Question 1 of 20 81 total questions
Ware house are located in Lagos because of?
A availability of wholesale
B even development
C nearness to sea and airports
D the need to check smuggling
E the need to create additional cost of production
The main similarity between commercial banks and other financial institution is?
A the acceptance of customers' deposit and making on their behalf
B financing of balance of payment deficits
C creating and destroying money
D giving credits to individuals or organizations
E giving night safe facilities
Which of the following is not a reason for forming a customer association?
A Protection against poor quality goods
B Protection against unscrupulous salesmen
C Improving the quality of goods to consumers
D Improving the quality of services to shoppers
E Making profit for consumers
UTC, kingsway Stores and Leventis Stores are typical examples of?
A Telephone
B Recorded delivery
C Telex
D Express mail
E Bill of lading
A term embracing buying, selling and distributing of goods and services is known as?
A wholesale trade
B retail trade
C commerce
D market mix
E marketing concept
A trade agreement in which two countries exchange goods and services is known as?
A export trade
B bilateral trade
C multilateral trade
D entrepot trade
E barter trade
The most important function of the retailer is to?
A sell goods on credit
B operates on weekends and public holidays
C make goods available in units
D buy from wholesalers
E operate at convenient places
Which of the following abbreviations permit the drawer of a document to correct any errors therein?
A V. A. T
B C. I. F
C E. O. E
D I. O. U
E C. W. O
Which of the following has the main objective to differentiate between similar products from different manufacturers?
A Branding
B Wrapping
C Packaging
D Mark up
E Display
When a motor dealer undertakes routine maintenance of costumers' vehicles, he is offering?
A self - service
B pre - sales services
C after - sales service
D automobile service
E free service
Which of the following is the primary purpose of a business concern? To
A make maximum profit for itself and the share holders
B provide goods and services to customers at a profit for itself and shareholders
C supply essential commodities at a profit
D make a goods and services available to the poor at a profit
E ensure even development of a country
The provision of all kinds of services is related to?
A primary production
B secondary production
C territorial production
D construction
E tertiary production
When payments is required for goods at the time order is placed, the term of payment quoted is?
A C.O.D
B C.W.O
C C.I.F
D F.O.R
E F.O.B
Which of the following saves consumers the time and cost involved in travelling to commercial centres for shopping?
A Department store
B Supermarket
C Mobile shop
D Wholesale stores
E Stall holder
A group of retailing shops under one management and selling then same products is known as?
A multiple shop
B supermarket
C department stores
D variety store
E unit shop
A group of retailing shops under one management and selling then same products is known as?
A multiple shop
B supermarket
C department stores
D variety store
E unit shop
Which of the following is an investor earns profit on the basis of his patronage?
A debenture holder
B partner
C sole proprietor
D co-operative member
E shareholder
Which of the following is an investor earns profit on the basis of his patronage?
A debenture holder
B partner
C sole proprietor
D co-operative member
E shareholder
Which of the following is not true of a sole proprietorship?
A It has a separate legal entity
B It has unlimited liability
C It has a slim chances of expansion
D The capital is small
E It can convert into a company
Into which of the following two broad areas can trade be divided?
A home and foreign trade
B home and retail trade
C wholesale and retail trade
D foreign and wholesale trade
E import and exports
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