Question 1 of 20 152 total questions
Contraband goods seized by the Customs and Excise Authority are kept in the
A ordinary warehouse
B bonded warehouse
C public auctioneer's store
D state warehouse
E private warehouse
Which of the following defines communication in commerce?
A Movement of files
B Transmission of information
C Movement of people
D Storing of information
E Distribution of newspaper
Which of the following facilities is very useful to an organization that posts a large number of mails regularly?
A Franking machine
B Business reply service
C Mail transfer
D Post restante
E Private mail bag
Speed is an important consideration for choice of a means of transport where goods are
A bulky
B inferior
C fragile
D perishable
E durable
Gases are best transported
A through canals
B by sea
C by air
D through pipelines
E by rail
Which of the following would best be conveyed by rail transport
A Bread
B Shoes
C Potatoes
D Tomatoes
E Oranges
Small ships which are used to carry goods and passengers across rivers or canals called
A tramps
B coasters
C tankers
D liners
E ferries
Money spent on acquiring vehicles, furniture and fittings by a manufacturing company is termed
A Circulation capital
B working capital
C fictitious capital
D fixed capital
E capital owned
Cash-in-hand and at bank as well as debtors are examples of
A current assets
B fixed assets
C capital owned
D capital employed
E working capital
New shares are offered for sale to the public through
A acceptable houses
B the stock exchange
C issuing houses
D discount houses
E mortgage banks
A trader started business with #30,000 and spent #20,000 in buying premises and equipment, the balance of #10,000 is his
A authorised capital
B fixed capital
C working capital
D capital owned
E called-up capital
An offer of new shares made to existing shareholders at a preferential price is called?
A bonus issue
B rights issue
C private placing
D debenture
E preference share
The insurance policy against claims from customers who might be injured within the business premises is called
A life assurance policy
B endowment policy
C fidelity guarantee insurance
D employers liability insurance
E engineering insurance
An action taken by a seller to avoid risks from unforeseeable price fluctuation is known as
A tendering
B aunctioneering
C quotation
D hedging
E haggling
The speculator in the stock exchange market who sells securities in anticipation of a fall in price is called a
A bull
B jobber
C bear
D stag
E broker
Which of the following shows the quality of money
A Ability to represent both small and large values
B Used for deffered payments
C Used as a unit for account
D Facilitating exchange
E Serving as a store of wealth
If Mr Olu insures Mr Obi's house, the insurer may, in event of a loss, refuse to pay compensation based on the principle of
A utmost good faith
B subrogation
C insurable interest
D indemnity
E contribution
Which of the following is an example of insurable risk?
A Change in consumer's taste
B The probability of a third world war
C Flood resulting from excessive rain in a year
D The death of a business partner
E Loss due to change in fashion
Which of the following is not a function of Development Banks?
A Give long-term loans
B invest directly into Agriculture
C Issue currency notes
D Give technical advice to investors
E Embark on priority projects of governments
Which of the following is not a means of controlling credit by the Central Bank?
A Fixing the bank rate
B Open market operations
C Clearing inter-bank indebtedness
D Special deposits
E Cashliquidity ratio
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