A distinguishing characteristic of labour is that it is
Απάντηση
(C)
mobile
3
Land as a factor of production does not vary in?
Απάντηση
(A)
quantity
4
Which of the following services does a lawyer render?
Απάντηση
(C)
direct services
5
The partner that only contributes part of the capital used in the formation and running of a business is known as?
Απάντηση
(C)
a dormant partner
6
One major advantage of a credit and thrift cooperative is that
Απάντηση
(B)
It encourages saving habit
7
A form of ownership which exploits the strength of one partner to remedy the weakness of the other is a?
Απάντηση
(A)
joint partnership
8
At the collapse of a business enterprise, the person appointed to dispose of all assets is called
Απάντηση
(C)
a liquidator
9
Entrusting the management of a company to the courts to enable the settlement of the company’s obligations is an indication of?
Απάντηση
(C)
bankruptcy
10
The capital employed is
Απάντηση
(A)
N 1,000
11
The financial instrument for borrowing in which the collateral is usually more than the amount borrowed is?
Απάντηση
(C)
mortage bond
12
(i) Personal Savings
(ii)Retained Earnings
(iii)Accrued taxes
Which of the items above constitute internal sources of financing for companies?
Απάντηση
(A)
i and ii
13
The difference between total current assets and total current liabilities of a business is known as
Απάντηση
(C)
working capital
14
The capital owned is
Απάντηση
(D)
N570
15
One of the reasons why wholesaling must continue is that?
Απάντηση
(D)
the gap between manufacturers and retailers is reduce byn wholesalers
16
The merchant wholesaler is referred to as
Απάντηση
(C)
rack jobber
17
A pro-forma invoice is sent to inform a buyer about the
Απάντηση
(B)
prices of goods
18
The balance of payments of countries is
Απάντηση
(B)
a systematic record of transaction among countries at a given time
19
The major procedures in the purchase and sale of goods are enquiry
Απάντηση
(A)
quotation, order and invoice
20
The trade discount receivable by Mr Bacus is
Απάντηση
(B)
N7,500
21
If Mr. Bacus fulfills his promise, he will be entitled to a cash discount of?
Απάντηση
(B)
N3,000
22
Bank Giro is a method of settling debt from a
Απάντηση
(C)
customer to another
23
Warehousing is a productive function because it increase the
Απάντηση
(B)
utility of goods
24
A factor necessary for siting a warehouse is nearness to
Απάντηση
(D)
consumers
25
Pooling of risk in insurance means that?
Απάντηση
(A)
compensations are paid out of a common fund
26
The major difference between insurance and assurance is that while insurance
Απάντηση
(C)
hinges on probabilities, assurance is based on possibilities
27
A documentary bill will normally be accompanied by
Απάντηση
(D)
consular invoice, FOB certificate and bill of lading
28
Which of the following best describes the classification of computer?
Απάντηση
(C)
Mini-computer, Micro-computer and work station
29
The temporary working area of the central processing unit is called the?
Απάντηση
(D)
RAM
30
The significance of money to modern economic system is that it?
Απάντηση
(C)
measures value and promotes exchange
31
One major characteristic of credit unions and thrift societies is that?
Απάντηση
(C)
the contribution of every member depends on the member's ability
32
The Nigerian Stock Exchange publishes a daily official list that gives full information on the?
Απάντηση
(C)
changes in the prices and earnings of securities
33
The main factors that determine the value of a stock on the stock Exchange are dividend and
Απάντηση
(C)
capital appreciation
34
One of the main objectives of the Second-tier Securities Market in Nigeria is to
Απάντηση
(D)
attract investment flow
35
The activities aimed at finding out customers' needs and satisfaction can be described as?
Απάντηση
(D)
conceptual marketing
36
The most effective type of advertising for branded product is?
Απάντηση
(D)
competitive advertising
37
Which of these companies are more engaged in public activities?
Απάντηση
(A)
i and ii
38
Which of these companies offers after-sales services?
Απάντηση
(C)
ii
39
Use the information below to answer question 40 and 41.
Musa rented a room to adamu for N1,500 and N1,000 part-payment was made. Adamu brought Audu and Jacob his friends to stay in the room.
The two friends later paid balance of N500 to Musa.
Who are the parties to the contract of renting the room?
Απάντηση
(C)
Adamu and Musa
40
Who is the offeree in this contract ?
Απάντηση
(C)
Adamu
41
Who is the offeree in this contract ?
Απάντηση
(C)
Adamu
42
The maximum number of shareholders in a public liability company is?
Απάντηση
(D)
unlimited
43
One way government reduces the repatriation of capital is through
Απάντηση
(C)
indidenization
44
One of the major function of a chamber of commerce is to
Απάντηση
(A)
promotes and protect trade, industry and agriculture
