A distinguishing characteristic of a limited liability company is that
Answer
(C)
has limited resources
2
Freight note is a document
Answer
(A)
issued by a shipping company giving details of changes
3
Which of the following are the components of commerce?
I. trading and advertising
II. warehousing and transportation
III. packing and branding
IV. Insurance and banking
Answer
(B)
I,II and IV
4
Extractive industries may also be denominated as
Answer
(D)
primary industries
5
A common requirement for public and private limited companies in Nigeria is that
Answer
(C)
their annual accounts are made available to the corporate affairs commission
6
Mr. Olatunde took up a fire insurance on a property valued at ₦1000 and the amount insured is ₦80. Thee ₦400. If the property caught fire causing a loss of insurance was taken with the clause with average what is the amount to be paid bý the insurance company?
Answer
(B)
₦320
7
One major characteristic of credit unions and thrift societies is that
Answer
(A)
the contribution of every member depends on the member's ability
8
An author's exclusive right to his published and unpublished works is known as
Answer
(C)
copyright
9
The management function that makes the difference in intensity of behavior is
Answer
(B)
motivation
10
Charges for loans paid by commercial banks to the Central Bank of Nigeria are called
Answer
(D)
bank rates
11
The difference between personal selling and sales promotion is that while sales promotion includes free gifts and samples. personal selling involves
Answer
(A)
face-to-face communication with customers
12
One of the disadvantages of sole proprietorship is
Answer
(C)
unlimited liability
13
Use the diagram above to answer this question
X represents
Answer
(B)
receiver
14
Use the diagram above to answer this question
In the communication process. Y represents
Answer
(D)
the medium
15
One of the functions of the Nigeria Ports Authority is the provision of
Answer
(B)
facilities to enhance the speedy loading and offloading of cargoes
16
The scope of economic activities can be enlarged by
Answer
(B)
trading and aids to trade
17
Given:
I. shoe maker
II. policemen
III. fishermen
IV. Gardener
V. Broker.
The persons engaged in primary Occupation are
Answer
(D)
III and IV
18
Ships used for international transport are
Answer
(A)
oceanliners
19
The process of eliminating a virus from computer is the
Answer
(D)
debugging
20
A customer with ABC Plc sent money through his account to his sister's account in another branch. This Is an example of
Answer
(C)
e-banking
21
One of the merits of television as a medium of advertising is that it
Answer
(D)
has more sensory stimulation
22
The central working system of a computer used for data processing is the
Answer
(D)
memory unit
23
An example of a computer operating system is
Answer
(B)
windows 2000
24
The arrangement and interrelationship of the various components and positions of a business is referred to as
A country is said to be experiencing an unfavourable balance of trade if her
Answer
(B)
visible imports exceeds Visible exports
28
An undertaking given by a person to another assuring his integrity is
Answer
(C)
fidelity guarantee
29
The principle of management that emphasizes on the number of subordinates under the direct supervision of a manager is
Answer
(D)
span of control
30
Mr. Taju entered into a contract to let a car to Mr. Funbi for his wedding for two days. However, the car had an accident before the first day. Mr. Funbi attempted to Claim damages but failed. This implies that the contract was terminated by
