Question 1 of 20 2,221 total questions
Who among the following cannot be regarded as an itinerant trader?
A Gypsy
B Barrow toy
C Pediar
D Stall owner
Who among the following cannot be regarded as an itinerant trader?
A Gypsy
B Barrow toy
C Pediar
D Stall owner
A bank's undertaking to pay an exporter on behalf of an importer is a?
A documentary credit
B letter of credit
C letter of hypothecation
D bill of exchange
An organization formed mainly by traders on the same line of business is known as?
A trade union
B cooperative society
C trade association
D chamber of commerce
The net profit of a business is determined by?
A deducting cost of goods sold from sales
B deducting purchases from sales
C adding commission received to gross profit
D deducting all expenses from gross profit and other income
Which of the following is an intangible assets of a firm?
A Goodwill
B Reserve
C Skilled personnel
D Rights issue
The nominal value of a share is the same as its?
A market value
B below par value
C above par value
D face value
The nominal value of a share is the same as its?
A market value
B below par value
C above par value
D face value
Partnership form of business is most appropriate?
A where professionals are needed
B for non-profit making ventures
C where very large capital is required
D where the liability of members is limited
Which of the following would not affect the form of a business unit?
A Availability of raw materials
B The type of business
C Number of persons involved
D The capital size
The fee which the bank charges for services rendered to their current account customers is?
A commission on turnover
B bank rate
C minimum lending rate
D interest
The fee which the bank charges for services rendered to their current account customers is?
A commission on turnover
B bank rate
C minimum lending rate
D interest
The distribution of profits based upon the level of patronage in the business is a common feature of?
A partnership firms
B public limited companies
C co-operative societies
D private limited companies
An advantage of a public limited company over a private one is the?
A limited liability of shareholders
B easy transferability of shares
C access to retained earnings
D less taxation by government
Production is defined as?
A an industrial undertaking
B creation of utility
C earning ones daily bread
D the changing of raw materials
Which of the following coordinates other factors of production to achieve set objectives?
A Land
B Labour
C Enterprenuer
D Capital
Farming is an activity that falls under?
A tertiary occupation
B commercial occupation
C extractive occupation
D secondary occupation
Which of the following is an advantage of indigenization?
A Checks exploitation by citizens
B Business risk are shared
C Fosters self-reliance
D Leads to monopoly of power
The form of trade practised by the early men was characterized by?
A exchange of goods for money
B efficient distribution system
C exchange of goods for goods
D organized warehousing
The West African Clearing House(WACH)was established to
A dredge the rivers in West Africa for easy navigation
B expand the volume of traffic within member countries
C cordinate the efforts to member states to tap their natural resources
D promote the use of currencies of all members for inter regional trade
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