Question 1 of 20 2,221 total questions
Goods in bonded warehouses are under the strict supervision of the
A Customs Authority
B Ports Authority
C Importer
D Clearing agent
E Exporter
The price charged for leasing a ship is known as
A way bill
B haulage
C clean bill
D freight
E demurrage
Mr Chidi insured his house against fire. The house was destroyed by flood. Which of the following principles prevented him from being compensated?
A Uberrimae fidei
B Subrogation
C Indemnity
D Proximate cause
E Insurable interest
Which of the following may serve as delivery note?
A Debit note
B Credit note
C Invoice
D Advice note
E Statement of account
Specialization is possible as a result of
A good roads
B education
C demand for goods
D growth in population
E exchange
Another name for consignment note is
A qoutation
B waybill
C debit note
D receipt
E credit note
The department that deals with internal grievances and maintenance of discipline in an organization is the
A accounts
B maintenance
C personnel
D public relations
E productions
Which of the following is applicable to foreign trade only?
A Pro forma invoice
B insurance policy
C Order
D Bill of exchange
E Consular invoice
An organization that builds access roads for the benefit of the community in which it is located has fulfilled its
A legal responsibility
B political responsibility
C social responsibility
D technological responsibility
E economic responsibility
The form given by the Customs Authority to enable an importer examine goods before the arrival of the bill of lading is known as
A entry for warehousing
B certificate of origin
C bill of sight
D bill of exchange
E dock warrant
Which of these management functions involves checking performance against set standards?
A Controlling
B Coordinating
C Planning
D Directing
E Organizing
Which of the following functions is not performed by retailers?
A Breaking bulk
B Ensuring regular stock for consumers
C Branding and packaging
D Insuring goods for customers
E Storing variety of goods
The process of involving local businessmen in the ownership and control of businesses that were formerly owned by foreigners is called
A nationalization
B industrialization
C indeginization
D commercialization
E privatization
Which of the following stresses the use of only specialists to head departments?
A Committee organisation structure
B Line organisation structure
C line and staff organisation structure
D Functional organisation structure
E Centralization
An insurance company shares its accepted risk with others in the form of
A reinsurance
B subrogation
C mutual insurance
D fidelity guarantee insurance
E contribution
Which of the following is not a credit instrument used in business transactions?
A Luncheon voucher
B Bill of exchange
C Promissory note
D Bank note
E Fuel voucher
Containers are suitable for transporting goods by
A sea only
B road only
C sea and rail only
D road and sea only
E road, sea and rail
The primary purpose of credit cards is to
A obtain goods without paying cash on the spot
B obtain a loan from the bank
C obtain a loan from a trader
D persuade a business man to cash a cheque
E provide a means of identifyng the holder
Industrial, commercial and direct services are branches of
A manufacturing
B occupation
C exchange
D distribution
E specialization
When a company buys up firms supplying it with raw materials, this is an example of
A horizontal integration
B a holding company
C backward integration
D consortium
E lateral merger
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