Question 1 of 20 44 total questions
Foreign trade transactions are carrried out through the use of
A commercial papers
B bank drafts drawn by commercial banks on their foreign braches
C irrevocably confirmed letters of credit
D letters of credit authenticated by embassies
information and communication technology is advantageous to the banking industry because
A overhead cost is reduced
B the number of customers increases
C service delivery is fast
D interest rates are raised
The individuals who conceive the idea of a company and undertake to fulfill the legal requirements for the venture are the
A shareholders
B promoters
C directors
D entrepreneur
The profit received by a member of a cooperative society is
A a rebate
B an allowance
C a dividend
D a share
Free editorial space or time not paid for by an organization is called
A sales promotion
B publicity
C public relations
D advertisement
The construction of dams, irrigation drains and navigation major responsibility of the
A Upper-Nigeria River Basin Commission
B Nigeria Basin Commission
C Economic Community of West African states
D Lack Chad Basic Commission
An element of the marketing mix that is concerned with feature and quality is
A price
B place
C product
D promotion
The factors responsible for large scale production of durable goods are
A capital and infrastructure
B land and infrastructure
C labour and capital
D equipment and labour
The branding of manufacturers goods aids
A market segmentation
B demand and supply
C price discrimination
D product differentiation
A mutual compromise between the central bank and other banks on strategies for economic activities is reached through
A cash liquidity ratio
B the reserve ratio
C moral suasion
D open-market operations
The contribution of a department towards the attainment of corporate goals is its
A span of control
B scalar principles
C unity of command
D unity of objective
A non-insurable risk is exemplified by
A speculation and loss of profit through competition
B gambling and whole-life insurance
C bad debts and consequential loss insurance
D open cover contract and constructive total loss
One objective of privatization is the
A provision of infrastructure
B provision of education and health facilities
C efficient use of resources
D protection and development of communities
One of the primary functions of the thrift, credit and loans cooperative society is to
A educate its members
B disburse money to its members
C encourage investment among members
D protect members’ valuables
A major disadvantage of the mainframe computer is its
A speed
B durability
C cost
D capacity
Sole proprietors finance their businesses through
A bonds and savings
B savings and bank overdrafts
C loans and mortgages
D bank overdrafts and leasing
An association of two or that each cannot handle alone is
A a cartel
B an amalgamation
C a merger
D a syndicate
The quickest and most accurate means of communication is
A fax
B telegram
C express mail
D railex
The major advantage of using a vending machine is that
A all sales are automatic
B it operates for 24 hours
C it has a time limit
D it is easily accessible
A system in which a group of persons are appointed to carry out special duties of policy and decision-making is referred to as the
A matrix structure
B staff structure
C committee structure
D functional structure
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