Question 1 of 20 2,221 total questions
New shares are offered for sale to the public through
A acceptable houses
B the stock exchange
C issuing houses
D discount houses
E mortgage banks
A trader started business with #30,000 and spent #20,000 in buying premises and equipment, the balance of #10,000 is his
A authorised capital
B fixed capital
C working capital
D capital owned
E called-up capital
An offer of new shares made to existing shareholders at a preferential price is called?
A bonus issue
B rights issue
C private placing
D debenture
E preference share
The insurance policy against claims from customers who might be injured within the business premises is called
A life assurance policy
B endowment policy
C fidelity guarantee insurance
D employers liability insurance
E engineering insurance
An action taken by a seller to avoid risks from unforeseeable price fluctuation is known as
A tendering
B aunctioneering
C quotation
D hedging
E haggling
The speculator in the stock exchange market who sells securities in anticipation of a fall in price is called a
A bull
B jobber
C bear
D stag
E broker
Which of the following shows the quality of money
A Ability to represent both small and large values
B Used for deffered payments
C Used as a unit for account
D Facilitating exchange
E Serving as a store of wealth
If Mr Olu insures Mr Obi's house, the insurer may, in event of a loss, refuse to pay compensation based on the principle of
A utmost good faith
B subrogation
C insurable interest
D indemnity
E contribution
Which of the following is an example of insurable risk?
A Change in consumer's taste
B The probability of a third world war
C Flood resulting from excessive rain in a year
D The death of a business partner
E Loss due to change in fashion
Which of the following is not a function of Development Banks?
A Give long-term loans
B invest directly into Agriculture
C Issue currency notes
D Give technical advice to investors
E Embark on priority projects of governments
Which of the following is not a means of controlling credit by the Central Bank?
A Fixing the bank rate
B Open market operations
C Clearing inter-bank indebtedness
D Special deposits
E Cashliquidity ratio
Which of the following is true of rail transport?
A Suitable for perishable goods
B Fast over long distances
C Maximum handling of goods
D Gaurantees safety of goods
E Does not travel on schedule
Credit in business transaction is?
A a form of loan
B compliment to a good customer
C provision of services
D a means of saving money
E a rebate for large purchases
Which of the following is not connected with after-sales services?
A Installment
B Granting trade discount
C Providing spare parts
D Repairing of product
E Replacing damaged goods
Which of the following is not a feature of hire purchase?
A Customer pays initial deposit
B Customer pays purchase price plus interest
C Payment is by instalment
D Ownership of goods passes to the customer on payment of a deposit
E Generally suitable for sales of durable goods
Rate of stock turnover is calculated to determine
A total volume of sales
B number of times goods are bought and sold
C number of times goods are counted
D total value of goods in the store
E the quality of goods sold
Which of the following is a pre-sales service to the consumer?
A Installement of the product
B Provision of credit facilities
C Maintenance of product for a period of time
D Transportation and delivery services
E Acceptance of damaged goods
An agreement to deliver goods in the future after payment of the final installment is known as?
A credit sales
B hire purchase
C conditional sale
D trade-in-sale
E leasing
Another name for a foreign order is
A consular invoice
B dock warrant
C standing order
D indent
E Pro forma invoice
Which of the following is not a function of the Nigerian Airport Authority?
A Maintains the buildings and tarmac
B Collects airport taxes
C Controls movement of aircrafts
D Maintains all aircrafts in the country
E Maintains security
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