Question 1 of 20 383 total questions
An example of service rendering trade association is
A Association of Nigerian Miners
B Cocoa Farmers’ Association
C Manufacturers Association of Nigeria
D Nigerian Bar Association
E Saw millers Association of Nigeria
The losses incurred in the running of Public Corporations are borne by the
A board of directors
B debenture holders
C managing director
D shareholders
E tax payers
A disadvantage of commercialization of public enterprises in Nigeria is that it
A creates room for competition with private owned enterprises
B enables consumers have value for their money
C generates funds for government
D leads to reduction in work force
E promotes efficiency
Which of the following relies on subvention as the main source of capital?
A Cooperative society
B Partnership
C Public corporation
D Public limited company
E Sole trader
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
Who among the following engages in extractive activities?
A Flour miller
B Fisherman
C Porter
D Singer
E Surgeon
A public limited company is regarded as a legal entity because
A it can sue and be sued
B it cannot be liquidated
C it has a memorandum of association
D the death of the largest shareholder cannot bring it to an end
E the government grants it licence
A ship which has no fixed schedule and travels wherever it can find cargoes to carry is a
A boat
B ferry
C liner
D tanker
E tramp
Which of the following does NOT belong to the group?
A Banking
B insurance
C retailing
D transport
E warehousing
Which of the following is NOT a component of trade?
A Auction
B Bilateral
C Multi-lateral
D Retail
E Wholesale
The most common form of business unit in West Africa is
A co-operative society
B joint stock company
C partnership
D public corporation
E sole proprietor-ship
Transfer of ownership of goods sold under Hire Purchase System takes place when _____ paid.
A a deposit is
B a quarter of the total price is
C half of the total price is
D the final instalment is
E two instalment have been
One of the easiest means of transporting petroleum product is by
A air
B pipeline
C rail
D road
E sea
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