Question 1 of 20 48 total questions
The rights of the consumers does NOT include
A the right to be informed
B the right to choose
C the right to fix prices
D the right to a healthy environment
E the right to safety
The main objective of nationalization of industries is to
A bring an Industry under state ownership and control
B Make more profit for the government
C prevent all aliens from taking part in the business activities of a country
D prevent existing firms from liquidation
E provide sources for additional capital for government
The breaking down of work into different processes is known as
A division of labour
B exchange
C production
D specialization
E working party
A tax paid on goods manufactured and consumed in your country is called
A consumer tax
B custom duty
C excise duty
D goods tax
E income tax
Which of the following is NOT regarded as a welfare service in an organization?
A housing
B medical facilities
C recreational facilities
D training
E transportation
Which of the following is NOT part of Pre-Sales Service/ice?
A assisting the prospective buyer to set up facilities for storage
B dispatching of quotation and price list
C granting of credit or hire purchase sales facilities
D providing detailed information about goods to be purchased
E provision of transportation and delivery services
Bankers settle their mutual indebtedness in a
A clearing and forwarding house
B clearing house
C development bank
D discount house
E stock exchange market
A public limited liability company is owned by
A board of directors
B debenture holders
C general public
D government
E shareholders
A bill of exchange sold for less than its face value before maturity is said to be
A accepted
B cleared
C discounted
D dishonored
E protested
The body charged with the responsibility monitoring the quality of goods supplied is the
A consumers’ association
B chamber of commerce
C manufacturers' association
D Ministry of Health
E Nigerian standards organization
A contract in which all parties to the contract have carried out their obligation is said to be terminated by
A breach of contract
B frustration
C operation of the law
D performance
E voluntary agreement
Shares are said to be sold at a discount when they are sold
A above par
B at par
C below par
D to the public
E to the shareholders
A multiple shop has many stores which sell
A graded goods
B locally produced goods
C manufactured goods
D persihable goods
E similar goods
The first Nigerian enterprises promotion decree was promulgated in
A 1972
B 1973
C 1974
D 1977
E 1980
A person who runs a business on his own account is called a
A creditor
B customer
C director
D partner
E sole trader
All the following are principles of insurance EXCEPT
A indemnity
B insurable interest
C particular average
D subrogation
E utmost good faith
The deliberate throwing of some goods into the sea to prevent the ship from sinking is an example of
A an actual total loss
B a constructive total loss
C a general average loss,
D a partial loss
E a total loss
Obi received a cheque for N1000 from Mr. Ade and this cheque was stolen. He must
A inform his bank to stop payment
B inform Mr. Ade to tell his bank to stop payment
C simply ask Mr. Ade for another cheque
D tell his bank to add the amount to his bank balance
E wait until the cheque is found
A construction industry
B direct services
C extractive industry
D manufacturing industry
E tertiary industry
The service rendered by NIPOST in which letters are addressed to any post office to await collection by the addressee is known as
A business reply service
B cash on delivery service
C express mail service
D free post service
E posted restate service
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