Which of the following are the components of commerce?
I Trading and advertising
II Warehousing and transportation
III Packaging and branding
IV Insurance and banking
Válasz
(C)
I, II and IV
2
A royal charter was granted to the Royal Niger Company to do business in Nigeria in
Válasz
(C)
July 1886
3
Transport, retailing and wholesaling industries rely heavily on
Válasz
(C)
manufacturing
4
An example of indirect service is rendered by
Válasz
(A)
civil servants
5
The mode of transportation that is noted for on time dependability and low cost peer unit on gods carried is?
Válasz
(B)
air
6
The person who undertakes any risk in insurance business is known as
Válasz
(B)
an underwriter
7
The main purpose of insurance is to
Válasz
(D)
spread individual losses ove all covered participants
8
The object of the business are determined by the
Válasz
(C)
society
9
Partnership are most suitable where
Válasz
(B)
professionals are involved
10
Use the conversation below to answer the question below;
MUSA: Taiwo why are you in business?
TAIWO: To optimize profit, provide quality products, and discharge my social responsibilities. What of you, Okon and Kalu
OKON: I am in business to cater to the needs of the consumers at all costs.
KALU: I am in business to make a profit, provided quality products at reasonable prices, and establish a good reputation for myself.
The businessman that may end up not discharging his social responsibility is--------------------
Válasz
(D)
Kalu
11
The business organization in which shareholder's have equal vote is
Válasz
(C)
co-operative
12
The major objective of corporate mergers is to
Válasz
(D)
enhance economies of scale
13
When it became necessary to liquidate a company, the frist step to be taken is the appointment of
Válasz
(D)
liquidator
14
In which of the following circumstances is a court order NOT necessary for the winding up of a company?
Válasz
(B)
special resolution of members
15
One type of investment that have a variable income is
Válasz
(D)
ordinary shares
16
A term which indicates that share is temporarily suspended is
Válasz
(A)
ex-dividend
17
Leasing is the right to use asset for an agreed period in return for
Válasz
(D)
rents
18
The form of business financing which involves pledging of a specific asset is
Válasz
(B)
mortgage
19
The total amount that a company is allowed to raised according to its memorandum of association is known as
Válasz
(B)
authorized capital
20
A public limited liability company having a nominal capital made up of 200 000 ordinary shares of 50k each decided to issued 50% of it to the public.
What is the authorized capital?
Válasz
(B)
N50 000
21
The turnover of firm maybe affected by
Válasz
(A)
the demand for its product
22
The cost of transporting goods to consumers called
Válasz
(D)
carried outward
23
The main aim of selling directly to consumers by manufactures is to
Válasz
(A)
dis courage the activities of middlemen
24
In foreign trade, document of title is known as
Válasz
(A)
bill of lading
25
Excise duties are paid on goods that are
Válasz
(B)
manufactured within the company
26
Stevedores as a term in foreign trade means men who
Válasz
(D)
load and unload ships
27
A close indent is an instrument to an agent to
Válasz
(A)
order goods from a particular manufacturer
28
The basic distinction between cash discount and trade discount is that while trade discount is
Válasz
(D)
a reduction in the value of sales, cash discount is a reduction in price of goods
29
The cost that raises from failure to load or unload a ship at the port within a stipulated period is known as
Válasz
(B)
demurrage charges
30
Bank giro is a system where?
Válasz
(D)
a customer closes his account by writting cheque
31
Commercial banks are referred to as departmental stores of banking because they
Válasz
(D)
offer many types of services
32
A markets where new shares are trade is known
Válasz
(A)
primary market
33
When a firm speaker of stock appreciation, it refers to
Válasz
(C)
an unexpected increase in the demand of its stock
34
The process of creating more for a product is called?
Válasz
(C)
promotion
35
When a vendor supplies newspapers from house to house and across the streets, the element of marketing mix involved is
Válasz
(D)
place
36
The main advantage of using cinema as an advertising medium is that it is
Válasz
(C)
accessible
37
When old customers stick to the old place to buy goods and services,it is known as
Válasz
(A)
goodwil
38
The most important pieces of legislation governing business and commercial activities in Nigeria currently is the
Válasz
(C)
Companies and Allied matters degree,1990
39
One of the criteria for differentiating consumers markets from industrial ones is the
Válasz
(A)
type of demand
40
Th overriding objective of the food and drug act in Nigeria is too prevent the
Válasz
(D)
manufactures of food and drug from charging excessive prices
41
The activities of consumers association in Nigeria have not been effective because
Válasz
(D)
the consumers have no medium for expressing their feelings
42
The least of the advantages of indigenization is that
Válasz
(A)
the standard of living of the indigenes is improved
43
The main objective of a trade association can best be described as promoting and protecting
Válasz
(D)
customer's interest
44
The management function of evaluating whether objectives are being achieved is
Válasz
(D)
controlling
45
In a business organization, the annual operation plan or budget is a form of
