Question 1 of 20 50 total questions
Bank giro is a system where?
A commercial banks can give loan to all customers
B a central bank opens account for commercial banks
C a customer uses cheque to pay serveral bills
D a customer closes his account by writting cheque
The cost that raises from failure to load or unload a ship at the port within a stipulated period is known as
A excess charges
B demurrage charges
C permium charges
D trade charges
The basic distinction between cash discount and trade discount is that while trade discount is
A for a period of 30 days, cash discount is for a period of 3 months
B given by a wholesaler, cash discount is given by a bank
C a reduction in the catalogue pirce f an article, cash dis count is a reduction in the invoice value
D a reduction in the value of sales, cash discount is a reduction in price of goods
A close indent is an instrument to an agent to
A order goods from a particular manufacturer
B order goods from any manufacturer
C sell gods to any firm
D sell goods to a certain firm
Stevedores as a term in foreign trade means men who
A inspect goods in ships
B import goods by ships
C collect duties in ships
D load and unload ships
Excise duties are paid on goods that are
A imported into the country
B manufactured within the company
C exported to other clonutries
D kept in bond warehouses
In foreign trade, document of title is known as
A bill of lading
B bill at sight
C certifiate of origin
D declaration form
The main aim of selling directly to consumers by manufactures is to
A dis courage the activities of middlemen
B make contacts with comsumers
C eliminate transportation cost
D maximize the profit margin
The cost of transporting goods to consumers called
A carried inward
B carried forward
C carried paid
D carried outward
The turnover of firm maybe affected by
A the demand for its product
B the cost of its goods sold
C its closing stock
D its net assets
A public limited liability company having a nominal capital made up of 200 000 ordinary shares of 50k each decided to issued 50% of it to the public.
A N40 000
B N50 000
C 100 000
D 200 000
The total amount that a company is allowed to raised according to its memorandum of association is known as
A issued capital
B authorized capital
C called-up capital
D paid-up capital
The form of business financing which involves pledging of a specific asset is
A debenture
B mortgage
C loan
D bond
Leasing is the right to use asset for an agreed period in return for
A profit
B interest
C wages
D rents
A term which indicates that share is temporarily suspended is
A ex-dividend
B cum-dividend
C bond
D stock
One type of investment that have a variable income is
A debentures
B preferred shares
C government bonds
D ordinary shares
In which of the following circumstances is a court order NOT necessary for the winding up of a company?
A supension of businesss for one year
B special resolution of members
C reduction in the number of members below the legal minimum
D inability to pay it debts
When it became necessary to liquidate a company, the frist step to be taken is the appointment of
A a receiver
B an auditor
C an accountant
D liquidator
The major objective of corporate mergers is to
A minimize the effects of taxation
B increase financial advantage
C faclitate profit maximization
D enhance economies of scale
The business organization in which shareholder's have equal vote is
A sole pprietorship
B partneeship
C co-operative
D limited liability company
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