Paper money originated in form of receipt given by?
إجابة
(B)
goldsmiths
2
The major divisions of Commerce are?
إجابة
(C)
trade and auxiliaries to trade
3
Which of the following statements is not true?
إجابة
(B)
There cannot occur commercial services unitl goods have been produced
4
The three main division of production include industrial?
إجابة
(B)
commercial and services
5
Which of the following does not belong to the industry?
إجابة
(B)
Insuring
6
Which of the following is one of the functions of commerce?
إجابة
(C)
Storage of goods
7
Opening stock.................N1000
Closing stock.................N9000
Purchases.....................N14,000
The average stock is?
إجابة
(C)
N5000
8
Opening stock.................N1000
Closing stock.................N9000
Purchases.....................N14,000
The cost of goods sold is?
إجابة
(A)
N6000
9
The oldest and commonest form of business in Nigeria is?
إجابة
(C)
sole proprietorship
10
If a retailer Mr. Aigbojie buys goods manufactured by Adefila Limited from wholesaler Mrs. Jumai, who will prepare the delivery note?
إجابة
(C)
Mrs. Jumai
11
Which of the following is not a factor of product?
إجابة
(E)
Staffing
12
In which class of occupation would you place a taxi driver?
إجابة
(E)
Commercial services
13
The purpose of of issuing a credit note is to?
إجابة
(A)
correct errors of overcharging
14
The exchange of goods for other goods in home trade is known as?
إجابة
(C)
barter trade
15
Which of the following advertising media combines the advantages of sound and motion?
إجابة
(E)
Television
16
Which of the following is a form of sales promotion?
إجابة
(D)
Offering free samples to customers
17
Efforts geared towards establishing and maintaining good image for a company is termed?
إجابة
(C)
public relations
18
Which of the following is sent as a reply to an inquiry?
إجابة
(E)
Quotation
19
Which of the following statements best describes net profit? The excess of
إجابة
(A)
total revenue over total expenditure
20
A business is in existence primarily to?
إجابة
(A)
make profit
21
A number of shops under one roof is the feature of a?
إجابة
(C)
department store
22
An agreement between two parties which will give rise to rights and obligation is known as?
إجابة
(B)
a contract
23
Auctions and Tenders become binding when they are?
إجابة
(A)
accepted
24
The organizing efforts of consumers to protect themselves against the unfair practices of business is called?
إجابة
(B)
consumerism
25
Which of the following is the most suitable means of transporting bulky goods from Lagos to Kaduna? By
إجابة
(A)
Train
26
Which of the following is the quickest and accurate means of communication?
إجابة
(D)
Telex
27
Which of the following is the safest means of sending a postal order from Lagos to a friend in Jos?
إجابة
(B)
Recorded delivery
28
One of the objectives of the indigenisation programme of the Federal Government of Nigeria is to?
إجابة
(D)
maximize local retention of profits
29
The law which stipulate that labels should give an accurate account of a product is the?
إجابة
(C)
trade description act
30
Which of the following is not an essential of a contract?
إجابة
(C)
All contracts written out
31
One advantage of personal selling is?
إجابة
(B)
immediate feedback
32
Charges paid by a for staying at at a port beyond agreed sailing time is called?
إجابة
(E)
demurrage
33
Entrepot Trade refers to?
إجابة
(E)
import for re-port
34
Which of following could account for a favourable balance of payment?
إجابة
(D)
higher expert than imports
35
Which of the following is not part of the facilities provided by the Nigerian Ports Authority?
إجابة
(C)
Collection of customs duties
36
The main purpose of branding is to?
إجابة
(B)
differentiate goods from other similar goods made by other producers
37
An individual who makes the final use of goods and services provided by a firm is the?
إجابة
(C)
consumer
38
The organization of Petroleum Exporting Countries(OPEC) is an example of a?
إجابة
(A)
cartel
39
When a business is insolvent it may result in?
إجابة
(C)
liquidation
40
In insurance the term Uberrimae fidei stands for?
إجابة
(A)
utmost good faith
41
Fidelity guarantee is an insurance cover against loss arising from?
إجابة
(C)
dishonest staff
42
Which of the following is a type of marine insurance?
إجابة
(B)
Freight
43
The word Ltd written after the name of a company means that?
إجابة
(C)
members are liable to the extent of their holding
44
Which of the following is not required in a Memorandum of Association? The
إجابة
(C)
names of the Board of Directors
45
The amount paid by the insurance company to the insured upon giving up his policy is called?
إجابة
(A)
Surrender value
46
The amount paid by the assured to the insurer is called?
إجابة
(B)
premium
47
With the exception of life assurance and personal accident insurance, contracts of insurance are contracts of?
إجابة
(B)
indemnity
48
An author's exclusive right to published and unpublished works is known as?
إجابة
(C)
copyright
49
Which of the following is a function of money?
إجابة
(C)
Standard for deferred payment
50
An overdraft is usually granted a?
إجابة
(C)
current account holder
51
which of the following documents may be used when an importer requires a longer period of credit before settlement?
إجابة
(E)
bill of exchange
52
the value of anything expressed in monetary terms is the?
إجابة
(B)
price
53
which of the following is not a means of making payment to a businessman?
إجابة
(E)
statements
54
the production of goods in anticipation of demand is made possible by?
إجابة
(B)
warehousing
55
total sales less total returns inwards is called?
إجابة
(E)
net sales
56
which of the following currencies does/do not belong to any country within the ECOWAS?
إجابة
(E)
kwasha and shilling
57
which of the following is not a means of raising capital by a promoter?
إجابة
(A)
goodwill
58
which of the following is a feature of co-operative society?
إجابة
(D)
democratic controll and management
59
a company has recently advertised an issue of one million ordinary shares of 50kobo and 65kobo per share.wen the issue is fully paid the company will collect?
إجابة
(C)
N650,000.00
60
which of the following is not the function of a small? retailer
إجابة
(E)
selling in large quantities
61
a speculator in the stock exchange market who sells securities in expectation of a fall in their prices is called?
إجابة
(C)
a bear
62
an association formed by Tyre manufacturers to safeguard and promote their interests is known as
إجابة
(E)
trade association
63
the reward of capital is?
إجابة
(B)
interest
64
to inform the buyer that the goods are in transit,the seller sends him?
إجابة
(D)
an advice note
65
the main source of income for a limited liability company is?
إجابة
(E)
share subscrptions
66
the authorised capital of a company is also referred to as it's?
إجابة
(D)
nominal capital
67
which of the following is an aspect of the marketing concept?
إجابة
(B)
sales orientation
68
a study to discover consumers preferences and needs is called?
إجابة
(B)
consumer orientation
69
a partnership agreement specifying the relationship amongst partners is called?
إجابة
(D)
partnership deed
70
management can be defined as?
إجابة
(B)
implementation of business decisions
71
The term capital account in international trade includes?
I.foreign investment
II.long-term lending
III. short-term lending
IV.foreign exchange reserve
V.short-term borrowing.
إجابة
(A)
I & II only
72
money spent for the day-to-day running of a business is called?
إجابة
(B)
working capital
73
which of the following is not a fixed asset of a business?
إجابة
(A)
sundry debtors
74
the main purpose of establishing a public corporation is to?
إجابة
(C)
provide essential services
75
a document that regulates the internal operations of a company is known as?
إجابة
(B)
articles of association
76
which of the following is not a reason for imposing a tariff? to
إجابة
(C)
encourage imports
77
customs duties are?
إجابة
(E)
import tariffs
78
which of the following documents transfers title to goods?
إجابة
(C)
bill of lading
79
The purchase of one company by another is called?
إجابة
(B)
merger
80
The main object of a cartel agreement is to control?
إجابة
(A)
output to maintain price
81
Which of the following concepts is concerned with determining the business objectives and how they can be achieved?
إجابة
(A)
Planning
82
A holding company assumes control of its subsidiaries through?
إجابة
(C)
majority shareholding
83
The accomplishment of a good company's objective by guiding and motivating subordinates is known as?
إجابة
(E)
Directing
84
The taking over by state of ownership and control of certain business enterprises is known as?
إجابة
(B)
nationalization
85
The concept of marketing as a process which begins and ends with the needs and wants of the consumer rather than those of the organization is called?
إجابة
(B)
consumer orientation
86
Which of the following is not an advantage of advertising? It
إجابة
(D)
improves the quality of products
87
Which of the following is the acceptable classification of warehouse?
إجابة
(E)
Private, public and bonded warehouse
88
A cheque made payable to "bearer"
إجابة
(C)
can be negotiated for cash by any holder
89
Which of the following arguments are in favour of establishing ECOWAS? I. The countries concerned would be able to expand market beyound their territorial boundaries.
II. Currency union is the final objective of member countries
III. Capital movement is not allowed across the boundaries
IV. Free movement across the borders of members would be allowed.
إجابة
(C)
I, II & IV only
90
Which of the following countries is not a member of ECOWAS?
إجابة
(E)
Cameroun
91
The major dealers on stock exchange market are the?
إجابة
(B)
jobbers
92
The selection and promotion of staff in an organization is the function of the?
إجابة
(C)
personnel department
93
A trade document signed by a representative of the country to which goods are being sent is called?
إجابة
(E)
consular invoice
94
Which of the following is not an element of the marketing mix?
إجابة
(D)
Merchandising
95
Retail outlets which sell from specialized vans are?
