The fastest means of sending a printed message from Lagos to London is through
پاسخ دهید
(D)
telex
3
An association that mobilizes the savings of members and channels them to needy members is known as
پاسخ دهید
(C)
Thrift and Credit Co-operative
4
If Ade issues a Union Bank cheque to Chukwu, the Union Bank is the
پاسخ دهید
(A)
drawee
5
Which of the following is the clearing house for all the banks in the country?
پاسخ دهید
(C)
The Central Bank of Nigeria
6
Commerce developed as a result of
پاسخ دهید
(C)
specialization
7
An overdraft can only be granted to the holder of a
پاسخ دهید
(D)
current account
8
Which of the following is not a source of capital to a partnership?
پاسخ دهید
(D)
Shares
9
Which of the following functions of the wholesaler helps to stabilize prices
پاسخ دهید
(E)
Warehousing
10
The rebate given to the retailer by the wholesaler to enable him make profit is known as
پاسخ دهید
(C)
trade discount
11
Division of labour often results in
پاسخ دهید
(B)
an increase in production
12
Who among the following is not an agent?
پاسخ دهید
(D)
Manufacturer's representative
13
Who among the following comes first in the channel of distribution?
پاسخ دهید
(D)
Manufacturer
14
The services rendered by Nigerian Airways to foreign companies are part of Nigeria's
پاسخ دهید
(C)
invisible exports
15
One of the characteristics of a debenture is that
پاسخ دهید
(C)
it yields a fixed rate of interest
16
Which of the following is a disadvantage of credit transaction?
پاسخ دهید
(D)
encourages bad debt
17
In which of the following do the goods become the property of the buyer on the payment of first installment
پاسخ دهید
(B)
Deferred payment
18
Which of the following government legislation is not aimed at consumer protection?
پاسخ دهید
(A)
Taxation Law
19
Self-service, mail order and automatic vending are examples of
پاسخ دهید
(D)
selling techniques
20
Span of control is defined as the
پاسخ دهید
(D)
number of surbodinates reporting directly to a supervisor
21
An established pattern of relationships among members of an organization is known as
پاسخ دهید
(A)
organizational behaviour
22
The aspect of management which ensures that there is no deviation from the set standards is called
پاسخ دهید
(A)
controlling
23
When a Public Limited Company is incorporated it means that
پاسخ دهید
(C)
It has a legal existence
24
The Manager,
Afribank,
Lagos.
Please pay to Great Nigeria Insurance Company, from my account, a sum of #125.00 at the end of every month until further notice, starting from this month.
The above instruction is a
پاسخ دهید
(D)
standing order
25
A retailer's mark-up is his
پاسخ دهید
(E)
selling price less cost price
26
Debenture is an example of
پاسخ دهید
(C)
loan capital
27
Which of the following is not an acceptable collateral security for a bank loan?
پاسخ دهید
(E)
Warehouse warrant
28
Which of the following is the basic principle of marketing concept?
پاسخ دهید
(C)
Consumer-oriented
29
The compensation given to brokers who sell shares to jobbers is called
پاسخ دهید
(B)
commission
30
The Stock Exchange does not deal in
پاسخ دهید
(B)
treasury bills
31
The insurance principle which expects the insured and the insurer to disclose all facts about a proposed contract is called
پاسخ دهید
(A)
uberrimae fidei
32
Which of the following is not covered by fire insurance policy?
پاسخ دهید
(D)
Lightning
33
Which of the following is not considered when siting a retail shop?
پاسخ دهید
(A)
Advertising
34
The law stipulating that labels should contain full details about a product is known as the
پاسخ دهید
(D)
Trade description Act
35
A design which distinguishes the goods of one producer from those of others is called
پاسخ دهید
(C)
trade mark
36
Which of the following is responsible for the maintenance of the quality of goods produced
پاسخ دهید
(C)
Standards Organization of Nigeria
37
The document stating the particular country from which goods are imported is called
پاسخ دهید
(A)
certificate of origin
38
Which of the following makes it possible for people to collect their letters at their convenient time ?
پاسخ دهید
(C)
Post Office Box
39
Which of the following is not a function of the Nigerian Ports Authority?
پاسخ دهید
(A)
Checking smuggling activities
40
Which of the following indicates special crossing on a check? Two parallell lines with
پاسخ دهید
(C)
"account payee" only
41
Which of the following is usually sent to prospective buyer when the seller expects payment of the goods dispatched?
پاسخ دهید
(A)
Pro-forma invoice
42
A company which acquires more than 50% voting shares of another company is called?
پاسخ دهید
(E)
a holding company
43
Which of the following is true of a merger?
پاسخ دهید
(D)
The company formed aquires a new name
44
Which of the following covers damages to the body of a ship and its machinery?
پاسخ دهید
(E)
Hull insurance
45
The major disadvantage of pipeline transportation is that it
پاسخ دهید
(D)
is not easy to detect damages
46
Which of the following are true of a bill of lading? i. it is a means of payment in foreign trade. ii. it is document of title to goods. iii. it is a contract of carriage. iv. it is usually drawn in triplicate.
پاسخ دهید
(E)
ii, iii and iv only
47
The difference between the total amount owed to a country and the total amount owed by it is
پاسخ دهید
(E)
balance of payments
48
Which of the following is not true of branding?
پاسخ دهید
(D)
Encourages pilfering
49
Which of the following is a disadvantage of air transport?
پاسخ دهید
(C)
High cost
50
Which of the following is not a characteristic of Charter party?
پاسخ دهید
(E)
An association of ship owners
51
Which of the following is issued to the exporter or his agent when the goods has been loaded in the ship?
پاسخ دهید
(B)
Mate's reciept
52
A common carrier is
پاسخ دهید
(E)
one who engages in the transportation of goods and passengers for a fee
53
The cost of goods sold divided by the average stock held during a trading period gives the
پاسخ دهید
(D)
rate of stock turnover
54
An organized market for securities is called
پاسخ دهید
(C)
Stock Exchange Market
55
A carton of spoons valued at #3,000.00 was invoiced at #300 only. Which of the following documents would be used by the seller to correct the error?
پاسخ دهید
(E)
A debit note for #2,700.00
56
Which of the following is not a means by which banks facilitate foreign trade?
پاسخ دهید
(C)
Open market operations
57
Which of the following is a characteristic of a private company?
پاسخ دهید
(C)
Shares are not dealt in on the stock exchange
58
Food and Drugs Act, Weights and Measure Act, Standards Organization of Nigeria, etc are aimed at
پاسخ دهید
(E)
protecting consumers
59
The reorganization of public enterprises to operate as profit-making ventures is known as
پاسخ دهید
(D)
commercialization
60
The intangible benefits arising from the business connections and reputation of a firm is called
پاسخ دهید
(B)
goodwill
61
Which of the following monitors people's opinion about a firm and takes measures to correct adverse impressions?
پاسخ دهید
(A)
Public Relations
62
Which of the following mostly serves as a useful promotional device for consumer goods?
پاسخ دهید
(E)
Packaging
63
Which of the following is a function of advertising?
پاسخ دهید
(A)
Stimulation of demand
64
The main reason for advertising an already existing line of products is to
پاسخ دهید
(D)
build brand recognition
65
The principle of insurance that restores the insured to the position he occupied immediately before the loss occurred is called
پاسخ دهید
(B)
indemnity
66
Business activities that direct the flow of goods and services from the producer to the consumer is
پاسخ دهید
(D)
marketing
67
Capital owned is synonymous with the
پاسخ دهید
(C)
net worth
68
Which of the following is not performed by marketing?
پاسخ دهید
(A)
Provision of revenue
69
The products that are regularly and easily bought by customers through habit are called?
پاسخ دهید
(D)
giffen goods
70
A business unit whose membership range from 2 to 20 is a
پاسخ دهید
(B)
partnership
71
Which of the following conditions may lead to the dissolution of a partnership?
پاسخ دهید
(C)
One partner becomes dormant
72
Which of the following is a legal tender?
پاسخ دهید
(B)
Bank notes
73
Which of the following takes the shortest time and is the most accurate means of communication?
پاسخ دهید
(A)
Telephone
74
When an assured is unable to honor his obligation in an insurance contract thereby terminating it before maturity he could only receive
پاسخ دهید
(C)
the surrender value
75
Assets of a business which cannot easily be changed into cash are known as
پاسخ دهید
(B)
fixed capital
76
The imposition of high tariff on imported goods by the customs authority is to
پاسخ دهید
(E)
protect infant industries
77
Who among the following has no right of ownership to a business organization?
پاسخ دهید
(D)
Debenture holder
78
From the following figures in the accounting books of XY company, calculate its working capital : stock #2,000; cash #1,500; Creditors #1,000; Bank overdraft #1,400
پاسخ دهید
(C)
#1,100
79
If goods invoiced at #1,500 were sold to Etim at less 15% trade discount, he would pay
پاسخ دهید
(C)
#1,275.00
80
An agent who takes possession of goods and sells in his own name but does not guarantee payment is known as
پاسخ دهید
(D)
factor
81
The total assets of Ogo Plc is #16,000 and the liabilities included loan #2,000, creditors #1,000 and electricity bill #2,000. Calculate the capital owned by the company?
پاسخ دهید
(E)
#11,000.00
82
Ali Plc with issued capital of #500,000 in #1.00 shares has for now requested shareholders to pay only 50k for each #1.00 share. The amount requested from the shareholders by the company is called?
پاسخ دهید
(B)
Called-up capital
83
When a company raises additional capital by selling shares directly to the public through insurance companies or investment houses, this is known as
پاسخ دهید
(C)
private placing
84
Which of the following is not one of the aims of indigenization? To
پاسخ دهید
(E)
transfer of a portion of risk from one insurer to another
85
One of the features of reinsurance is the
پاسخ دهید
(E)
transfer of a portion of risk from one insurer to another
86
Which of the following is used in home trade?
پاسخ دهید
(B)
Bank draft
87
To which of the following occupations does a broker belong?
پاسخ دهید
(C)
Commercial
88
When firms that operate at different stages in the production of a commodity merge, this is known as
پاسخ دهید
(B)
vertical intergration
89
The document which gives the current price and terms of trade of a product is called?
پاسخ دهید
(B)
an invoice
90
Which of the following is not a function of merchant banks?
پاسخ دهید
(E)
Printing new bank notes
91
A restriction on the quantity of a commodity that could be imported is known as
پاسخ دهید
(C)
quota
92
The art of combining human, material and other resources to achieve the stated goals of a business is known as
پاسخ دهید
(E)
organizing
93
An agent with authority to bind his principal in everything, provided he acts lawfully is called
پاسخ دهید
(C)
a universal agent
94
Mr Ojo paid Nnamdi the sum of #3,000 for a piece of land without their signing any deed of sale. Which of the following elements of contract is lacking in the transaction?
پاسخ دهید
(B)
Formality
95
When an industry is nationalized, ownership belongs to the
