Question 1 of 20 4,313 total questions
The word Ltd written after the name of a company means that?
A the individual member's capital is limited
B the total sum of the company's capital is limited
C members are liable to the extent of their holding
D company's location is limited
E a shareholder has only one vote
Which of the following is a type of marine insurance?
A Endowment
B Freight
C Accident
D Fidelity
E Fire
Fidelity guarantee is an insurance cover against loss arising from?
A trade debts
B personal accidents
C dishonest staff
D fire disaster
E sea disaster
In insurance the term Uberrimae fidei stands for?
A utmost good faith
B suborgation
C insurable interest
D indemnity against loss
E proximate cause
When a business is insolvent it may result in?
A incorporation
B recuperation
C liquidation
D restoration
E nationalization
The organization of Petroleum Exporting Countries(OPEC) is an example of a?
A cartel
B trust
C holding company
D consortium
E chamber of commerce
An individual who makes the final use of goods and services provided by a firm is the?
A manufacturer
B wholesaler
C consumer
D retailer
E trader
The main purpose of branding is to?
A increase the quantity of goods demanded
B differentiate goods from other similar goods made by other producers
C increase the selling price of goods
D enhance turnover of goods
E introduce the product to the customers
Which of the following is not part of the facilities provided by the Nigerian Ports Authority?
A Dredging
B Warehousing
C Collection of customs duties
D Loading and off-loading of cargoes
E Off-loading of cargoes
Which of following could account for a favourable balance of payment?
A High capital repayments
B high debt service repayment
C higher imports than exports
D higher expert than imports
E higher public spending
Entrepot Trade refers to?
A importing for domestic consumption
B importing for industrial use
C importing for government concerns
D exporting for factory use
E import for re-port
Charges paid by a for staying at at a port beyond agreed sailing time is called?
A profit
B interest
C holding
D carriage cost
E demurrage
One advantage of personal selling is?
A low cost
B immediate feedback
C the appeal to many people at a time
D self service
E speedy market coverage
Which of the following is not an essential of a contract?
A Offer and acceptance
B Intention to create legal relations
C All contracts written out
D Legality of object
E Consideration
The law which stipulate that labels should give an accurate account of a product is the?
A price control act
B consumer credit act
C trade description act
D hire purchase act
E product standard act
One of the objectives of the indigenisation programme of the Federal Government of Nigeria is to?
A encourage the use of local raw materials
B expel all foreigners from Nigeria
C make Nigeria businessmen very rich
D maximize local retention of profits
E promote foreign trade
Which of the following is the safest means of sending a postal order from Lagos to a friend in Jos?
A Special delivery
B Recorded delivery
C Registered letters
D First class mail
E Express letter
Which of the following is the quickest and accurate means of communication?
A Telegram
B Express mail
C Courier services
D Telex
E Railex
Which of the following is the most suitable means of transporting bulky goods from Lagos to Kaduna? By
A Train
B Aeroplane
C Ship
D Lorry
E Caravan
The organizing efforts of consumers to protect themselves against the unfair practices of business is called?
A strike
B consumerism
C amalgamation
D co-operation
E propaganda
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