Question 1 of 20 93 total questions
Which of the following is not a business resource?
A Wages
B Man
C Money
D Material
E Machine
The commercial term "Caveat emptor" means, Let the
A buyer beware
B seller beware
C manufacturer beware
D account be settled
E endorser be careful
Which of the following functions may not be performed by a whole saler?
A Transporting
B Warehousing
C Financing
D Branding
E Manufacturing
Which of the following services is not rendered by NIPOST
A Express delivery
B Recorded delivery
C Parcel post
D Telephone
E Cash delivery
The sum of money the assurer is prepared to pay the assured in total discharge of a contract before its maturity is
A dividend
B premium
C annuity
D surrender value
E interest
Management is
A getting things done through other people
B the implementation of business decision
C the number of levels in an organisation
D made up the general manager and the employees
E making goods available in places where they are needed
A statement of account is a
A summary of goods sold to a customer for a particular item
B note to inform the customer of an addition to his business transaction
C standard letter sent to customers who have not settled their bills
D statement of acceptance of credit facilities to a customer
E summary of a customer's transactions over a given period
For which of the following reasons would a seller not issue a credit note to a customer? If
A goods are undercharged
B goods are damaged
C bottles are returned
D goods are overcharged
E fewer goods are returned
A document signed by a customs officer of the exporting country to confirm the country of export of the goods is
A an export invoice
B a consular invoice
C a certificate of origin
D a letter of hypothecation
E a bill of laden
An agreement that is enforceable in law is called?
A a contract
B an offer
C an acceptance
D a consideration
E an injuction
Which of the following is a disadvantage of foreign trade?
A Encourages dumping
B Makes available the products that a country cannot produce
C Widens the world market
D Encourages specialization
E Makes possible the transfer of technology
Which of the following is a direct service?
A Banking
B Teaching
C Advertising
D Fishing
E Warehousing
Which of the following activities makes the consumer its focus in decision making?
A Selling concept
B Marketing concept
C Product concept
D Production concept
E Market research
Which of the following does not aim at protecting the customer?
A Sales of Goods Act
B Fair Trading Act
C Price Control Act
D Partnership Act
E Foods and Drugs Act
The contract between ship owners and hires whereby the hires take full control of the ship is called?
A time charter
B charter by demise
C shipping conference
D voyage charter
E charter party
Which of the following is not a source of capital?
A Personal savings
B Credit transfer
C Bank Loan
D Credit purchase
E Debenture
Which of the following is not included in the Memorandum of Association?
A Winding up procedure
B Objectives of the company
C Address of the registered office
D Amount of capital
E Conditions for amendment of the memorandum
A partner who does not play an active role in a business but contributes capital is a
A secret partner
B dormant partner
C nominal partner
D limited partner
E general partner
Which of the following is an advantage of personal selling?
A Immediate feedback
B Low cost
C Self service
D Speedy market coverage
E Selling to many people at a time
Which of the following is not an element of a contract?
A Consideration
B Probability
C Legality
D Capacity
E Consensus
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