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