Question 1 of 17 97 total questions
In which of the following do the goods become the property of the buyer on the payment of first installment
A Hire-purchase
B Deferred payment
C Leasehold
D Cash with order
E Forward trading
Which of the following is a disadvantage of credit transaction?
A increases turnover
B facilitates the sale of durable goods
C encourages the habit of saving
D encourages bad debt
E enables consumers to enjoy goods without immediate payment
One of the characteristics of a debenture is that
A it yields a fixed rate of dividends
B it has no redemption date
C it yields a fixed rate of interest
D its holder has a voting right
E the holder bears more risk than others
The services rendered by Nigerian Airways to foreign companies are part of Nigeria's
A visible exports
B visible imports
C invisible exports
D invisible imports
E entreport trade
Who among the following comes first in the channel of distribution?
A Consumer
B Retailer
C Consignor
D Manufacturer
E Wholesaler
Who among the following is not an agent?
A Broker
B Factor
C Jobber
D Manufacturer's representative
E Aunctioneer
Division of labour often results in
A a decrease in production
B an increase in production
C waste of time
D uneconomic use of tools
E greater craftsmanship
The rebate given to the retailer by the wholesaler to enable him make profit is known as
A commission
B mark-up
C trade discount
D cash discount
E credit guarantee
Which of the following functions of the wholesaler helps to stabilize prices
A Financing
B Advice to retailers
C Provision of credit
D Advertising
E Warehousing
Which of the following is not a source of capital to a partnership?
A Buying on credit
B Ploughed back profit
C Borrowing
D Shares
E Personal savings
An overdraft can only be granted to the holder of a
A fixed deposit
B savings deposit
C loan account
D current account
E deposit account
Commerce developed as a result of
A speculation
B competition
C specialization
D importation
E exportation
Which of the following is the clearing house for all the banks in the country?
A The Federal Mortgage Bank of Nigeria
B The Nigerian Industrial Development Bank
C The Central Bank of Nigeria
D The Nigerian Bank for Commerce and Industry
E The National Bank of Nigeria
If Ade issues a Union Bank cheque to Chukwu, the Union Bank is the
A drawee
B payee
C drawer
D acceptor
E creditor
An association that mobilizes the savings of members and channels them to needy members is known as
A Consumer Co-operative
B Producer Co-operative
C Thrift and Credit Co-operative
D Multi-purpose Co-operative
E Trade Union
The fastest means of sending a printed message from Lagos to London is through
A aeroplane
B telephone
C cablegram
D telex
E courier
Extractive occupation is an example of
A construction industry
B manufacturing industry
C tertiary industry
D primary industry
E secondary industry
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