Question 1 of 20 4,313 total questions
In nationalized industries, losses are borne by the?
A tax payers
B shareholders
C debenture holders
D Minister of industries
E Borad of Directors
A cover note is a?
A Document of title to goods
B letter from the tax authority
C label attached to goods foe indentification
D temporary insurance certificate
E letter issued by banks to customers
Which of the following accompanies goods supplied and forms a receipt when signed by the consignee?
A Invoice
B Order
C Delivery note
D Requisition note
E Advice note
Details of a new share for which the public is being invited to subscribe are contained in the?
A Memorandum of Association
B Certificate of Trading
C Certificate of Incorporation
D Prospectus
E Balance sheet
Which of the following is not a necessary document in incorporating a company?
A Memorandum of Association
B Articles of Association
C A statement of nominal capital
D A certificate of Trading
E A statement of minimum subscription
Which of the following are elements of the economic environment of business?
A Government policy
B Norm and value
C Politics
D inflation and unemployment
E Family and peer groups
Which of the following are the important functions of any organization?
A Planning, Marketing, Finance and Personnel Management
B Planning, Organizing, Controlling and Motivating
C Planning, Production, Controlling anf Marketing
D Planning, Personnel, Organizing and Motivating
E Planning, Staffing, Building and Warehouse
The principle of subrogation in insurance means that?
A the insured could make profit from his loss
B the insured must be fully indemnified
C those insured should pool their risks
D parties to the insurance contract must reveal all relevant facts
E the insurer takes the place of the insured in respect of claims due from third paarties
Which of the following is a function of marketing?
A manufacturing
B quality control
C book-keeping
D distribution
E extraction
When a share is bought at a rate below the par value, it is said to have been sold?
A at a discount
B cum div
C at a premium
D ax-div
E pro-rata
A'bear' on the stock exchanges sells share in anticipation of?
A a fall in price
B a rise in price
C a change in price
D the liquidation of the company concerned
E new issues
Which of the following enhances the leading powers of commercial banks?
A High bank rate
B Increased cash reserve ratio
C Provision for bad and doubtful debts
D Decreased liquidity ratio
E Increased Capital base
The naria is legal tender because it is?
A recongnizable
B backed by law
C generally acceptable
D homogeneous
E portable
A document issued by the government authorizing a person to take goods out of the country for sale abroad is known as?
A export licence
B import licence
C dock warrant
D bill of lading
E consular invoice
A trade deficit means that?
A the balance of trade is favourable
B exports are less than imports
C imports are less than export
D exports are decreasing
E the balance of payments is unfavourable
A merchant wholesaler is one who?
A takes title to the goods he sells
B does not own the goods he sells
C earns a commision for serving as an agent
D sometimes makes retail sales
E engages in merchandizing
When a seller sends pro-forma invoice to a potential customer, it is?
A an indication that the seller is out of business
B an indication that the goods are out of stock
C a polite way of asking him to return the goods already purchased
D an invitation to the purchaser to buy on hire-purchase
E an indication that credit will not be granted
A documents which a retailer sends to a wholesaler requesting him to supply items is called?
A a letter of inquiry
B a catalogue
C an invoice
D an order
E a tender invoice
The use of catalogues is associated with?
A hawkers
B roadside traders
C mobile shops
D chain stores
E mail-order business
Which of the following is a retail outlet to eliminate the profit of middlemen?
A Producer co-operative
B Consumer co-operative
C Thrift and Credit Society
D Department store
E Multiple shop
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