Question 1 of 8 48 total questions
The principle of insurance that prevents the insured from benefiting in an event where he suffers no material or financial loss is
A Indemnity
B insurable
C proximate cause
D subrogation
E utmost good faith
Which of the following is an objective of regional economic grouping?
A For easy religious interactions
B For single political governance
C For stable political governance
D To encourage free flow of trade among members
E To harmonize the culture of member countries
The building of schools and hospitals for communities by some oil companies in Niger Delta of Nigeria is an example of
A business diversification
B business integration
C consumer protection
D discharge of social responsibility
E indigenization
When a cheque has R/D written on it, it means that the cheque
A has been dishonoured
B has been honoured
C has been paid into the drawer's account
D has not been signed
E is wrongly worded
An example of a secured loan is
A backdraft
B co-operative loan
C mortgage
D overdraft
E trade credit
A document that is sent by the seller to the buyer to indicate an increase in the annual owes is
A credit note
B debit note
C invoice
D letter of credit
E receipt
The department responsible for recruitment and promotion of staff is
A finance
B legal
C personnel
D production
E purchases
The final stage in the production process is
A consumption
B manufacturing
C retailing
D warehousing
E wholesaling
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