Question 1 of 20 49 total questions
A price quotation that covers the cost of goods and all other expenses incurred in delivering the goods to the buyer is called?
A document from a seller which corrects an under-charge on a buyer's account is known as?
A proforma invoice
B credit note
C debit note
D statement of account
Which of the following abbreviations indicates that the seller reverse the right to correct errors on the invoice
A E & O.E
B C.I.F
C C.O.D
D C.W.O
All human efforts geared towards the production of goods and services is?
A entrepreneurship
B labour
C capital
D occupation
Which of the following is a creditor legally bound to accept for settlement of a debt?
A Bank draft
B Bank note
C Money order
D Cheque
Which of the following is a creditor legally bound to accept for settlement of a debt?
A Bank draft
B Bank note
C Money order
D Cheque
Agriculture operative banks are best classified under?
A commercial banks
B savings banks
C merchant banks
D specialized banks
A bundle of shares is called?
A stock
B bonus issue
C debenture
D rights issue
The authority given to a bank to make regular payments on behalf of a customer for a specified purpose is known as?
A bank draft
B credit transfer
C standing order
D certified cheque
A person which decides what to produce and combines the other factors of production is the?
A entrepreneur
B distributor
C engineer
D retailer
The act of keeping products in good condition until they are needed is?
A Insurance
B warehousing
C communication
D advertising
Which of the following is not a means of payment in foreign trade?
A Telegraphic transfer
B Cheque
C Letter of credit
D Bill of exchange
Which of the following means restoring the issue to position he was just before the loss occurred
A Indemnity
B Subrogation
C Proximate cause
D Utmost good faith
The expert who calculates premium for an insurance policy is?
A an underwriter
B an actuary
C a broker
D an assessor
Which of the following is not an objective of ECOWAS?
A Expansion of trade
B Encouraging free movement of persons within member states
C Improvement of infrastructural facilities
D Promoting a common language
Which of the following is an example of itinerant trading?
A Moblie shops
B Mail order Business
C Stall holding
D Selling from kiosk
A business firm which controls more than half of another firm's equity is a?
A holding company
B consortium
C cartel
D syndicate
Which of the following requires a certificate of trading to start business?
A Partnership
B Private Limited Company
C Cooperative society
D Public Limited Company
Which of the following is used to advertise of a company?
A Memorandum of association
B Articles of association
C Certificate of incorporation
D Prospectus
Which of the following is used to advertise of a company?
A Memorandum of association
B Articles of association
C Certificate of incorporation
D Prospectus
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