Question 1 of 20 97 total questions
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
Auctions and Tenders become binding when they are?
A accepted
B offered
C received
D advertised
E communicated
An agreement between two parties which will give rise to rights and obligation is known as?
A a warrant
B a contract
C a consideration
D an offer
E an acceptance
A number of shops under one roof is the feature of a?
A supermarkets
B chain stores
C department store
D mail order business
E shopping centre
A business is in existence primarily to?
A make profit
B provide goods amd services
C provide employment
D complete with others in business
E sell goods at reasonable prices
Which of the following statements best describes net profit? The excess of
A total revenue over total expenditure
B total capital income over expenditure
C sales over purchases
D total capital formation over capital consumption
E total expenditure over total revenue
Which of the following is sent as a reply to an inquiry?
A Tender
B Estimate
C Statement
D Advice note
E Quotation
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