Question 1 of 20 4,313 total questions
A major merit of the retaining middlemen is to _______
A pay cash to the bank: for manufacturers
B stock perishable goods
C regulate price for manufacturers
D stock goods produced by different manufacturer
An example of extractive occupation is ______
A mining
B teaching
C banking
D driving
Another name or term for a dishonoured cheque is ______
A an order cheque
B a bounced cheque
C a bearer cheque
D an open cheque
A partnership is dissolved due to ________
A liquidity of the firm
B death of the employee
C insanity of a partner
D resignation of an employee
A major function of trade association is to _______
A assist members to buy cars
B help individuals to set up small business
C establish a link among member
D foster cooperation among members
What document is required when a country imposes valorem import duties on goods?
A mail transfer
B shipping note
C bill of lading
D consular invoice
A major objective of all business resources is ______
A public relation
B profit sharing
C human relation
D profit making
An advantage of division of labour is _______?
A productivity and total output is increased
B monotony of task is eliminated
C loss of individual craftmanship is minimized
D interdependence of workers increase remuneration
The function of commerce in relation to production is ______
A helping in the extraction of raw material from nature
B providing a link between the different stage of conversion of good
C yielding result
D satisfying
A demerit of communication is that it ________
A makes payment for goods cumbersome
B increase the cost of goods in transit
C give room for distortion of fact
D hinder quick reception of messages over a long distance
What is the reward accruable to land?
A Rent
B profits
C wages
D Interest
Production ends when goods and services ________
A reach the final consumer
B are used for manufacturing
C are packaged and labelled
D are sold to the middlemen
The concept that refers to the sale, transfer or exchange of goods and services is
A industry
B trade
C tariff
D marketing
Water corporation is an example of ______?
A co-operative society
B public enterprise
C private enterprise
D limited company
One disadvantages of advertising is that it —
A could be misleading
B decreases sales
C reduces profit
D causes over stocking
The quality of money that describe its uniformity is
A recognizability
B durability
C portability
D homogeneity
The government agency involved in issuing of export licences is _______?
A Nigeria Export Processing Zone
B Nigeria Export Promotion council
C Nigeria Port Authority
D Customs and Excise Authority
A government policy that encourages transfer of ownership from foreigners to indigenes of the country is known as ____?
A nationalisation
B privatisation
C indigenisation
D commercialisation
The fees charged on postal order by the post office is _____?
A interest
B brokerage
C poundage
D premium
When a buyer has been overcharged for goods supplied, the seller issues a _______?
A debit note
B proforma invoice
C letter of credit
D credit note
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