Question 1 of 20 4,313 total questions
A document that is sent to a buyer when credit is not allowed is?
A invoice
B consignment note
C debit note
D proforma invoice
E delivery note
An instalmental buying system where ownership immediately transfers to the buyer is known as?
A deferred payment
B hire - purchase
C spot buying
D cash sales
E prompt payment
Who is liable for the contract entered into the agent on behalf of his principal? The
A agent
B principal
C agent and principal
D third party
E lawyer who drew up the agreement
Net Profit is the?
A excess of income over expenses
B total income from the sale of goods
C difference between sales and purchases
D amount of purchasenless closing stock
E excess of total sales over total purchases
Which of the following terms of price quotation includes cost of transportation to buyers premises?
A FOB
B C & F
C FOR
D FAS
E Exship
Which of the following is the safest means of sending a postal order from Lagos to a friend in Jos?
A Registered letter
B Recorded delivery
C Railex
D First class mail
E Express mail
Which of the following protects consumers against poor quality goods?
A Nigerian Chambers of Commerce
B Standards Organization of Nigeria
C Trade Association
D Manufacturers Association of Nigeria
E Nigerian National Supply Company
Which of the following services is not rendered by NIPOST?
A Poste Restante
B Express delivery
C C.W.O
D Telegram
E Registered post
The machine used in sending telex message is known as?
A photocopier
B typewriter
C teleprinter
D punching machine
E dictaphone
Goods discharged from ship on which import duties have not been paid are kept in the?
A ordinary warehouse
B private warehouse
C public warehouse
D wholesaler warehouse
E bonded warehouse
Which of the following is not a function of warehousing?
A Provision of storage facilities
B Availability of goods where needed
C Availability of goods when needed
D Reduction of price fluctuation
E Production in anticipation of demand
The telephone service through which one can dial any number,local,trunk or overseas is known as?
A internal communication system
B standard dialling system
C subscriber's trunk dialling system
D international telecommunication
E coded dialling order
Which of the following defines communication?
A Movement of goods
B Transmission of information
C Movement of people
D Storing of information
E Distribution of newspapers
The charge paid for failing to off-load a vehicle within a stipulated time is called?
A freight
B demurrage
C fine
D fare
E floating charge
Which of the following is not one of the 4m's of business resources?
A Method
B Men
C Money
D Material
E Machine
A bank may dishonour a cheque if?
A it is not crossed
B an alteration on the cheque is initiated
C the amount on the cheque is less than the amount in the account
D it has been endorsed to a third party
E the amount on the cheque is more than the amount in the account
Third party insurance covers, damages?
A to both passengers and the vehicle
B caused by the vehicle insured
C to all parties concerned
D to both vehicles involved
E to the insured vehicle only
An association of local,independent retailers formed to encourage buying in bulk from manufacturers is known as?
A voluntary chain
B producer co-operative society
C multiple store
D departmental store
E hypermarket
The capital that is needed to meet the day-to-day running of a business is the?
A fixed capital
B reserved capital
C circulating capital
D liquid capital
E capital employed
A person who wants to undertake an insurance policy usually completes?
A a proposal form
B a promotion form
C an application form
D an agreement form
E a subscription form
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