Question 1 of 20 2,221 total questions
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
Which of the following are functions of marketing?
A Buying, fnancing, selling and transporting
B Sorting, grading, managing and storage
C Risk-bearing, storage, production and promotion
D Organizing, risk-bearing, transporting and storage
E Production, promotion, distribution and pricing
Dumping means selling goods abroad
A at a lower price than in the home market
B at a higher price than in the home market
C at the same price as in the home market
D on credit in the foreign market
E for ready cash in the foreign market
An agent who guarantees payments for goods sold is
A a factor
B a del credere agent
C a broker
D a partner
E an aunctioneer
The shares of XYZ Plc are quoted at the stock exchange by a jobber at 85k for k share. How much will Alabi, an investor who buys 500 shares pay?
A #675.00
B #425.00
C #250.00
D #175.00
E #75.00
A foreign order which instructs an agent to buy certain goods at a particular place called
A letter of credit
B letter of attorney
C open indent
D closed indent
E bill of laden
A group of people in the same line of business who come together for the interest of its members is called
A Chamber of Commerce
B trade association
C trade union
D consortium
E cartel
One of the demerits of sole trading is
A quick decision taking
B flexibility in operation
C unlimited liability
D pride of ownership
E ease of commencement
An insurance policy which benefits one's family only is in the event of one's death is known as
A a comprehensive insurance
B a whole-life insurance
C an endowment policy
D an annuity
E a third party insurance
Which of the following will enable customs officers to correctly assess import duties on goods?
A Pro-forma invoice
B Bill of exchange
C Documentary credit
D Consular invoice
E Bill of laden
Which of the following ensures that the quality of a product is maintained?
A Price Control Board
B Chamber of Commerce
C Food and Drugs Act
D Standards Organisation of Nigeria
E Manufactures Association of Nigeria
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