Question 1 of 20 2,221 total questions
Which of the following clearly defines business?
A The process of planning, coordinating, organising and controlling
B The act of achieving goals with the help of others
C The act of buying and selling
D Sole proprietorship, Partnership and Public Limited Companies
E Any productive activity undertaken for profit motive
A group of public limited companies that commonly own a joint venture is known as
A holding company
B consortium
C cartel
D trust
E merger
One of the features of a supermarket is
A having similar shop fronts
B having many shops under one root
C selling common household goods
D having central control from headquarters
E selling without shops
The allowance given to a retailer to enable him make a profit is known as
A interest
B commission
C trade discount
D cash discount
E dividend
Which of the following is the main tool of mass selling
A public relations
B personal selling
C Consumer research
D Customer orientation
E Advertising
The face to face contact between sellers and buyers with the aim of selling a product is known as
A personal selling
B customer cordination
C promotion
D advertising
E public relation
Which of the following is not a reason for imposing import duties? To
A improve balance of trade
B improve quality of goods for consumers
C obtain revenue
D protect infant industries
E prevent dumping
In a business environment, which of the following variables can a business man conveniently control?
A Product
B Politics
C Culture
D Economy
E The laws
Which of the following is not a way of raising capital for business?
A Issuing of bonds
B Borrowing
C Savings
D Ploughing back profit
E Issuing dividend warrants
In which of the following business units are the owners mostly the customers?
A Co-operatives
B Partnerships
C Public corporations
D Limited liability companies
E Sole proprietorship
Which of the following is not a business resource?
A Wages
B Man
C Money
D Material
E Machine
The commercial term "Caveat emptor" means, Let the
A buyer beware
B seller beware
C manufacturer beware
D account be settled
E endorser be careful
Which of the following functions may not be performed by a whole saler?
A Transporting
B Warehousing
C Financing
D Branding
E Manufacturing
Which of the following services is not rendered by NIPOST
A Express delivery
B Recorded delivery
C Parcel post
D Telephone
E Cash delivery
The sum of money the assurer is prepared to pay the assured in total discharge of a contract before its maturity is
A dividend
B premium
C annuity
D surrender value
E interest
Management is
A getting things done through other people
B the implementation of business decision
C the number of levels in an organisation
D made up the general manager and the employees
E making goods available in places where they are needed
A statement of account is a
A summary of goods sold to a customer for a particular item
B note to inform the customer of an addition to his business transaction
C standard letter sent to customers who have not settled their bills
D statement of acceptance of credit facilities to a customer
E summary of a customer's transactions over a given period
For which of the following reasons would a seller not issue a credit note to a customer? If
A goods are undercharged
B goods are damaged
C bottles are returned
D goods are overcharged
E fewer goods are returned
A document signed by a customs officer of the exporting country to confirm the country of export of the goods is
A an export invoice
B a consular invoice
C a certificate of origin
D a letter of hypothecation
E a bill of laden
An agreement that is enforceable in law is called?
A a contract
B an offer
C an acceptance
D a consideration
E an injuction
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