Question 1 of 13 93 total questions
Which of these management functions involves checking performance against set standards?
A Controlling
B Coordinating
C Planning
D Directing
E Organizing
Which of the following functions is not performed by retailers?
A Breaking bulk
B Ensuring regular stock for consumers
C Branding and packaging
D Insuring goods for customers
E Storing variety of goods
The process of involving local businessmen in the ownership and control of businesses that were formerly owned by foreigners is called
A nationalization
B industrialization
C indeginization
D commercialization
E privatization
Which of the following stresses the use of only specialists to head departments?
A Committee organisation structure
B Line organisation structure
C line and staff organisation structure
D Functional organisation structure
E Centralization
An insurance company shares its accepted risk with others in the form of
A reinsurance
B subrogation
C mutual insurance
D fidelity guarantee insurance
E contribution
Which of the following is not a credit instrument used in business transactions?
A Luncheon voucher
B Bill of exchange
C Promissory note
D Bank note
E Fuel voucher
Containers are suitable for transporting goods by
A sea only
B road only
C sea and rail only
D road and sea only
E road, sea and rail
The primary purpose of credit cards is to
A obtain goods without paying cash on the spot
B obtain a loan from the bank
C obtain a loan from a trader
D persuade a business man to cash a cheque
E provide a means of identifyng the holder
Industrial, commercial and direct services are branches of
A manufacturing
B occupation
C exchange
D distribution
E specialization
When a company buys up firms supplying it with raw materials, this is an example of
A horizontal integration
B a holding company
C backward integration
D consortium
E lateral merger
Which of the following is used to transmit typed messages over long distances?
A Dictaphone
B Teleprinter
C Computer
D Telephone
E Radio
The difference between the total amount of money received by a country and the total amount paid to other countries within a given period is the
A trade gap
B balance of trade
C balance of payments
D current account balance
E terms of trade
Which of the following is not the duty of an entrepreneur?
A provision of inital capital
B Bearing of risks
C Organization of other factors of production
D Decision on what to produce
E Decision on the amount of tax to pay
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