An article used as a means of exchange in the early days of trade in West Africa was
Atsakymas
(B)
cowrie
2
The provision of services is classified under
Atsakymas
(D)
tertiary production
3
The growth of commerce is not enhanced by
Atsakymas
(D)
low per capita income
4
One of the products of the construction industry is a
Atsakymas
(B)
bag of cement
5
The service of a retailer is part of production because it
Atsakymas
(B)
enables finished goods to reach consumers
6
The resources put together to create goods and services are
Atsakymas
(C)
factors of production
7
Which of the following organizations provide essential goods and services at low cost to citizens?
Atsakymas
(B)
Public enterprises
8
A group of sellers who pool their resources to buy goods in large quantities and sell to its members is a
Atsakymas
(A)
wholesaler cooperative society
9
Average stock is derived by adding
Atsakymas
(C)
opening stock to closing stock divided by 2
10
A retail business that sells goods by post, using catalogue is a
Atsakymas
(C)
mail order firm
11
Which of the following documents would a shareholder inspect to know his voting rights?
Atsakymas
(A)
Articles of Association
12
An internal source of finance to an enterpreneur is
Atsakymas
(B)
retained earning
13
Use the information below to answer questions 13 and 14
#
Sales
50,000.00
Debtors
10,000.00
Cash in hand
5,000.00
Opening stock
30,000.00
Creditors
8,000
Atsakymas
(C)
#5,000.00
14
Use the information below to answer questions 13 and 14
#
Sales
50,000.00
Debtors
10,000.00
Cash in hand
5,000.00
Opening stock
30,000.00
Creditors
8,000.00
Purchases
16,000.00
Overdraft
12,000.00
Closing stock
10,000.00
Atsakymas
(D)
#14,000.00
15
A partner who contributes only his name to the formation of a partnership is
Atsakymas
(A)
a nominal partner
16
Which of the following groups would advocate for the supply of constant electricity to households?
Atsakymas
(A)
Consumer's association
17
A retail store that sells a single product from a particular manufacturer is a
Atsakymas
(D)
chain store
18
A country's visible balance of payment is made up of
Atsakymas
(C)
earnings from goods exported
19
The quality of money which makes it possible to buy goods in small quantities is
Atsakymas
(C)
divisibility
20
One of the functions of commerical banks that cannot be performed by central banks is
Atsakymas
(B)
collection of deposits from the public
21
A document that instructs an agent to buy goods from a named firm is
Atsakymas
(D)
closed indent
22
The incentive given to a buyer to encourage prompt payment is
Atsakymas
(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
Atsakymas
(B)
contribution
24
Dealers in stock exchange such as bulls, bears and stags are categorized as
Atsakymas
(C)
speculators
25
Which of the following is not a characteristic of a commercial bank?
Atsakymas
(C)
Established to issue bank notes
26
Central banks sell treasury bills to the public to
Atsakymas
(D)
reduce cash in circulation
27
A document used to ensure correct payment of duty at the importing country is
Atsakymas
(D)
bill of lading
28
A cheque is specially crossed if
Atsakymas
(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
Atsakymas
(B)
promote members' welfare
30
When a share with a nominal value of #50 is quoted at #70, it is being sold
Atsakymas
(D)
at a premium
31
Sea vessels that do not operate on regular times and routes are
Atsakymas
(B)
ocean liners
32
Payment made to a carrier for transportation of goods is
Atsakymas
(A)
freight
33
An advantage of rail transport is that it
Atsakymas
(C)
carries bulky and heavy goods
34
The commission on a postal order is
Atsakymas
(B)
poundage
35
Consumers could be encouraged to purchase a company's product through
Atsakymas
(D)
advertisement
36
The marketing concept emphasizes
Atsakymas
(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
Atsakymas
(A)
after-sales service
38
Which of the following is not a right of a consumer?
Atsakymas
(B)
Right to buy on credit
39
Advertisement which is geared towards a particular audience is
Atsakymas
(A)
direct advertising
40
The law by which a seller transfers the property in goods to a buyer at an agreed price is the
Atsakymas
(C)
Sale of Goods Act
41
Commerce is defined as
Atsakymas
(B)
all activities in the distribution and exchange of goods and services
42
The type of occupation that a broker belongs to is
Atsakymas
(A)
commercial
43
A form of money which was not used in the early days of trade is
Atsakymas
(C)
cowries
44
Which of the following activities is not an example of the extractive industry?
Atsakymas
(A)
weaving
45
A business unit in which savings of members are lent to others is a
Atsakymas
(C)
credit and thrift society
46
The document issued by a public company allowing it to commence business is the
Atsakymas
(D)
Certificate of Trading
47
Which of the following is not a function of a consumer association?
Atsakymas
(C)
Penalizing importers of fake goods
48
An association formed by computer distributors to safeguard and promote their interest is a
Atsakymas
(C)
trade association
49
The issue of prospectus by a company is an invitation to members of the public to
Atsakymas
(A)
subscribe to the company's shares
50
Examples of current assets are
Atsakymas
(A)
cash and trade debtors
51
When the cost of sales is divided by the average stock, the result is
Atsakymas
(C)
rate of turnover
52
The part of issued share capital that the company has asked the subscribers to pay for
Atsakymas
(B)
called-up capital
53
The last link in a channel of distribution is the
Atsakymas
(C)
consumer
54
The difference between a country's imports and exports of goods in a particular year is
Atsakymas
(C)
balance of payment
55
Goods bought into the country for sale are the country's
Atsakymas
(C)
visible imports
56
A feature of supermarkets which distinguishes it from other large scale retail outlets is that items sold are
Atsakymas
(A)
mainly household goods
57
One advantage of small scale retail outlets is
Atsakymas
(D)
personal attention to customers
58
A discount deducted from the invoice price of goods to enable the retailer to make profit
Atsakymas
(A)
cash discount
59
A document issued by the seller's own courier and signed by the customer to acknowledge receipt of the goods is
Atsakymas
(B)
consignment note
60
A request for goods from another country by an importer would be made using
Atsakymas
(B)
an indent
61
The right to buy or sell stock in the stock exchange within a stipulated period is
Atsakymas
(A)
option
62
The share value stated on a share certificate is
Atsakymas
(D)
nominal value
63
The bank which acts as the lender of last resort is the
Atsakymas
(A)
Central bank
64
An insurance policy which is not a contract of indemnity is
Atsakymas
(C)
life insurance
65
When a company insures the lives of all its employees collectively, the policy is
Atsakymas
(D)
group insurance
66
A cheque that could be cashed over the counter by the payee is
Atsakymas
(C)
open cheque
67
A specially-designed mode of transport for conveying liquid and gas is a
Atsakymas
(B)
tanker
68
The safe keeping of goods produced until they are needed is
Atsakymas
(D)
warehousing
69
One of the objectives of the Niger Basin Commission is to
Atsakymas
(D)
streaming the construction of dams on the river
70
A paid presentation about a product with a view to encouraging purchases by an identifiable sponsor is
Atsakymas
(D)
advertisement
71
The face-to-face meeting of the seller with the buyer for the purpose of making sales is
Atsakymas
(C)
personal selling
72
The activity which improves the appearance of a product and also aimed at protecting it is
Atsakymas
(D)
packaging
73
Which of the following is not a component of the marketing mix?
Atsakymas
(B)
production
74
The marketing term which regards the consumer as king that must be satisfied is
