A partner who contributes only his name to the formation of a partnership is
답변
(A)
a nominal partner
16
Which of the following groups would advocate for the supply of constant electricity to households?
답변
(A)
consumers' association
17
A retail store that sells a single product from a particular manufacturer is a
답변
(D)
chain store
18
A country's visible balance of payment is made up of
답변
(C)
earnings from goods exported
19
The quality of money which makes it possible to buy goods in small quantities is
답변
(C)
divisibility
20
One of the functions of commercial banks that cannot be performed by central banks is
답변
(B)
collection of deposits from the public
21
A document that instructs an agent to buy goods from a named firm is
답변
(D)
closed indent
22
The incentive given to a buyer to encourage prompt payment is
답변
(A)
cash discount
23
The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is.
답변
(B)
contribution
24
Dealers in the stock exchange such as bulls, bears and stags are categorized as
답변
(C)
speculators
25
Which of the following is not a characteristic of a commercial bank?
답변
(C)
Established to issue bank notes
26
Central banks sell treasury bills to the public to
답변
(D)
reduce cash in circulation
27
A document used to ensure correct payment of duty at the importing country is
답변
(D)
bill of lading
28
A cheque is specially crossed if
답변
(C)
the name of the bank is written between two parallel lines drawn across it
29
One of the functions of a trade association is to
답변
(B)
promote members' welfare
30
When a share with a nominal value of N50 is quoted at N70, it is being sold
답변
(D)
at a premium
31
Sea vessels that do not operate on regular times and routes are
답변
(B)
ocean liners
32
Payment made to a carrier for transportation of goods is
답변
(A)
frights
33
An advantage of rail transport is that it
답변
(C)
bulky and heavy goods
34
The commission on a postal order is
답변
(B)
poundage
35
Consumers could be encouraged to purchase a company's products through
답변
(D)
advertisement
36
The marketing concept emphasizes
답변
(D)
consumer's satisfaction at a profit
37
An undertaking to repair a customer's vehicle for a certain period after it has been sold is
답변
(A)
After-sales service
38
Which of the following is not a right of a consumer?
답변
(B)
Right to buy on credit
39
Advertisement which is geared towards a particular audience is
답변
(A)
direct advertising
40
The law by which a seller transfers the property in goods to a buyer at an agreed price is the
답변
(C)
Sale of Goods Act
41
The act of removing government laws and allowing market forces to determine prices is
답변
(B)
deregulation
42
The purpose of commercialization is to
답변
(A)
make state-owned firms more efficient
43
An agency agreement in which the principal approves the action of his authorized representative is agency by
답변
(A)
ratification
44
A requirement for an offer to be valid is that it should be
