Question 1 of 20 74 total questions
A group of persons that agrees to pool its resources to achieve a particular objective is known as?
A consortium
B holding company
C cartel
D trust
E subsidiary company
A group of persons that agrees to pool its resources to achieve a particular objective is known as?
A consortium
B holding company
C cartel
D trust
E subsidiary company
The organization that aims at protecting the business interest of a particular area is the?
A Trade Asociation
B Manufacturing Association of Nigeria
C Chamber of Commerce
D Confederation of industrialists
E Trade Union
Air transport is considerable importance today because it?
A is faster than other means of transport
B can deliver goods to owner's destination
C is relatively cheaper
D can carry bulky goods
E travels on schedule
A company that acquires a majority of the shares of the other companies with voting rights is regarded as?
A a consortium
B a holding company
C an amalgamator
D a subsidiary comapany
E cartel
Speed is an important consideration for the choice of a means of transport where goods are?
A bulky
B inferior
C fragile
D perishable
E durable
Speed is an important consideration for the choice of a means of transport where goods are?
A bulky
B inferior
C fragile
D perishable
E durable
The main advantage of water transport is that it?
A is safe
B is slow
C can carry heavy goods
D can go long distances
E is owned by private firms
New shares are offered to the public through?
A acceptance houses
B the stock exchange
C issuing houses
D discount houses
E finance houses
An increase in turnover is an increase in?
A liquid capital
B the volume of sales
C current assets
D fixed assets
E owners equity
A parcel of shoes valued at N2,000 only. Which of the following would be used by the seller to correct this error?
A An invoice for N200
B A credit note for N1,800
C A debit note for N1,800
D A debit note for N2,000
E A credit note for N2,200
Which of the following is true of a delivery note? It
A is sent in anticipation of delivery
B does not show the prices of the goods
C gives additional information about the goods
D shows the pictures of goods being delivered
E is a demand for payment
A document that is sent to a buyer when credit is not allowed is?
A invoice
B consignment note
C debit note
D proforma invoice
E delivery note
An instalmental buying system where ownership immediately transfers to the buyer is known as?
A deferred payment
B hire - purchase
C spot buying
D cash sales
E prompt payment
Who is liable for the contract entered into the agent on behalf of his principal? The
A agent
B principal
C agent and principal
D third party
E lawyer who drew up the agreement
Net Profit is the?
A excess of income over expenses
B total income from the sale of goods
C difference between sales and purchases
D amount of purchasenless closing stock
E excess of total sales over total purchases
Which of the following terms of price quotation includes cost of transportation to buyers premises?
A FOB
B C & F
C FOR
D FAS
E Exship
Which of the following is the safest means of sending a postal order from Lagos to a friend in Jos?
A Registered letter
B Recorded delivery
C Railex
D First class mail
E Express mail
Which of the following protects consumers against poor quality goods?
A Nigerian Chambers of Commerce
B Standards Organization of Nigeria
C Trade Association
D Manufacturers Association of Nigeria
E Nigerian National Supply Company
Which of the following services is not rendered by NIPOST?
A Poste Restante
B Express delivery
C C.W.O
D Telegram
E Registered post
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