Paper money originated in form of receipt given by?
Хариулт
(B)
goldsmiths
2
The major divisions of Commerce are?
Хариулт
(C)
trade and auxiliaries to trade
3
Which of the following statements is not true?
Хариулт
(B)
There cannot occur commercial services unitl goods have been produced
4
The three main division of production include industrial?
Хариулт
(B)
commercial and services
5
Which of the following does not belong to the industry?
Хариулт
(B)
Insuring
6
Which of the following is one of the functions of commerce?
Хариулт
(C)
Storage of goods
7
Opening stock.................N1000
Closing stock.................N9000
Purchases.....................N14,000
The average stock is?
Хариулт
(C)
N5000
8
Opening stock.................N1000
Closing stock.................N9000
Purchases.....................N14,000
The cost of goods sold is?
Хариулт
(A)
N6000
9
The oldest and commonest form of business in Nigeria is?
Хариулт
(C)
sole proprietorship
10
If a retailer Mr. Aigbojie buys goods manufactured by Adefila Limited from wholesaler Mrs. Jumai, who will prepare the delivery note?
Хариулт
(C)
Mrs. Jumai
11
Which of the following is not a factor of product?
Хариулт
(E)
Staffing
12
In which class of occupation would you place a taxi driver?
Хариулт
(E)
Commercial services
13
The purpose of of issuing a credit note is to?
Хариулт
(A)
correct errors of overcharging
14
The exchange of goods for other goods in home trade is known as?
Хариулт
(C)
barter trade
15
Which of the following advertising media combines the advantages of sound and motion?
Хариулт
(E)
Television
16
Which of the following is a form of sales promotion?
Хариулт
(D)
Offering free samples to customers
17
Efforts geared towards establishing and maintaining good image for a company is termed?
Хариулт
(C)
public relations
18
Which of the following is sent as a reply to an inquiry?
Хариулт
(E)
Quotation
19
Which of the following statements best describes net profit? The excess of
Хариулт
(A)
total revenue over total expenditure
20
A business is in existence primarily to?
Хариулт
(A)
make profit
21
A number of shops under one roof is the feature of a?
Хариулт
(C)
department store
22
An agreement between two parties which will give rise to rights and obligation is known as?
Хариулт
(B)
a contract
23
Auctions and Tenders become binding when they are?
Хариулт
(A)
accepted
24
The organizing efforts of consumers to protect themselves against the unfair practices of business is called?
Хариулт
(B)
consumerism
25
Which of the following is the most suitable means of transporting bulky goods from Lagos to Kaduna? By
Хариулт
(A)
Train
26
Which of the following is the quickest and accurate means of communication?
Хариулт
(D)
Telex
27
Which of the following is the safest means of sending a postal order from Lagos to a friend in Jos?
Хариулт
(B)
Recorded delivery
28
One of the objectives of the indigenisation programme of the Federal Government of Nigeria is to?
Хариулт
(D)
maximize local retention of profits
29
The law which stipulate that labels should give an accurate account of a product is the?
Хариулт
(C)
trade description act
30
Which of the following is not an essential of a contract?
Хариулт
(C)
All contracts written out
31
One advantage of personal selling is?
Хариулт
(B)
immediate feedback
32
Charges paid by a for staying at at a port beyond agreed sailing time is called?
Хариулт
(E)
demurrage
33
Entrepot Trade refers to?
Хариулт
(E)
import for re-port
34
Which of following could account for a favourable balance of payment?
Хариулт
(D)
higher expert than imports
35
Which of the following is not part of the facilities provided by the Nigerian Ports Authority?
Хариулт
(C)
Collection of customs duties
36
The main purpose of branding is to?
Хариулт
(B)
differentiate goods from other similar goods made by other producers
37
An individual who makes the final use of goods and services provided by a firm is the?
Хариулт
(C)
consumer
38
The organization of Petroleum Exporting Countries(OPEC) is an example of a?
Хариулт
(A)
cartel
39
When a business is insolvent it may result in?
Хариулт
(C)
liquidation
40
In insurance the term Uberrimae fidei stands for?
Хариулт
(A)
utmost good faith
41
Fidelity guarantee is an insurance cover against loss arising from?
Хариулт
(C)
dishonest staff
42
Which of the following is a type of marine insurance?
Хариулт
(B)
Freight
43
The word Ltd written after the name of a company means that?
Хариулт
(C)
members are liable to the extent of their holding
44
Which of the following is not required in a Memorandum of Association? The
Хариулт
(C)
names of the Board of Directors
45
The amount paid by the insurance company to the insured upon giving up his policy is called?
Хариулт
(A)
Surrender value
46
The amount paid by the assured to the insurer is called?
Хариулт
(B)
premium
47
With the exception of life assurance and personal accident insurance, contracts of insurance are contracts of?
Хариулт
(B)
indemnity
48
An author's exclusive right to published and unpublished works is known as?
Хариулт
(C)
copyright
49
Which of the following is a function of money?
Хариулт
(C)
Standard for deferred payment
50
An overdraft is usually granted a?
Хариулт
(C)
current account holder
51
which of the following documents may be used when an importer requires a longer period of credit before settlement?
Хариулт
(E)
bill of exchange
52
the value of anything expressed in monetary terms is the?
Хариулт
(B)
price
53
which of the following is not a means of making payment to a businessman?
Хариулт
(E)
statements
54
the production of goods in anticipation of demand is made possible by?
Хариулт
(B)
warehousing
55
total sales less total returns inwards is called?
Хариулт
(E)
net sales
56
which of the following currencies does/do not belong to any country within the ECOWAS?
Хариулт
(E)
kwasha and shilling
57
which of the following is not a means of raising capital by a promoter?
Хариулт
(A)
goodwill
58
which of the following is a feature of co-operative society?
Хариулт
(D)
democratic controll and management
59
a company has recently advertised an issue of one million ordinary shares of 50kobo and 65kobo per share.wen the issue is fully paid the company will collect?
Хариулт
(C)
N650,000.00
60
which of the following is not the function of a small? retailer
Хариулт
(E)
selling in large quantities
61
a speculator in the stock exchange market who sells securities in expectation of a fall in their prices is called?
Хариулт
(C)
a bear
62
an association formed by Tyre manufacturers to safeguard and promote their interests is known as
Хариулт
(E)
trade association
63
the reward of capital is?
Хариулт
(B)
interest
64
to inform the buyer that the goods are in transit,the seller sends him?
Хариулт
(D)
an advice note
65
the main source of income for a limited liability company is?
Хариулт
(E)
share subscrptions
66
the authorised capital of a company is also referred to as it's?
Хариулт
(D)
nominal capital
67
which of the following is an aspect of the marketing concept?
Хариулт
(B)
sales orientation
68
a study to discover consumers preferences and needs is called?
Хариулт
(B)
consumer orientation
69
a partnership agreement specifying the relationship amongst partners is called?
Хариулт
(D)
partnership deed
70
management can be defined as?
Хариулт
(B)
implementation of business decisions
71
The term capital account in international trade includes?
I.foreign investment
II.long-term lending
III. short-term lending
IV.foreign exchange reserve
V.short-term borrowing.
Хариулт
(A)
I & II only
72
money spent for the day-to-day running of a business is called?
Хариулт
(B)
working capital
73
which of the following is not a fixed asset of a business?
Хариулт
(A)
sundry debtors
74
the main purpose of establishing a public corporation is to?
Хариулт
(C)
provide essential services
75
a document that regulates the internal operations of a company is known as?
Хариулт
(B)
articles of association
76
which of the following is not a reason for imposing a tariff? to
Хариулт
(C)
encourage imports
77
customs duties are?
Хариулт
(E)
import tariffs
78
which of the following documents transfers title to goods?
Хариулт
(C)
bill of lading
79
The purchase of one company by another is called?
Хариулт
(B)
merger
80
The main object of a cartel agreement is to control?
Хариулт
(A)
output to maintain price
81
Which of the following concepts is concerned with determining the business objectives and how they can be achieved?
Хариулт
(A)
Planning
82
A holding company assumes control of its subsidiaries through?
Хариулт
(C)
majority shareholding
83
The accomplishment of a good company's objective by guiding and motivating subordinates is known as?
Хариулт
(E)
Directing
84
The taking over by state of ownership and control of certain business enterprises is known as?
Хариулт
(B)
nationalization
85
The concept of marketing as a process which begins and ends with the needs and wants of the consumer rather than those of the organization is called?
Хариулт
(B)
consumer orientation
86
Which of the following is not an advantage of advertising? It
Хариулт
(D)
improves the quality of products
87
Which of the following is the acceptable classification of warehouse?
Хариулт
(E)
Private, public and bonded warehouse
88
A cheque made payable to "bearer"
Хариулт
(C)
can be negotiated for cash by any holder
89
Which of the following arguments are in favour of establishing ECOWAS? I. The countries concerned would be able to expand market beyound their territorial boundaries.
II. Currency union is the final objective of member countries
III. Capital movement is not allowed across the boundaries
IV. Free movement across the borders of members would be allowed.
Хариулт
(C)
I, II & IV only
90
Which of the following countries is not a member of ECOWAS?
Хариулт
(E)
Cameroun
91
The major dealers on stock exchange market are the?
Хариулт
(B)
jobbers
92
The selection and promotion of staff in an organization is the function of the?
Хариулт
(C)
personnel department
93
A trade document signed by a representative of the country to which goods are being sent is called?
Хариулт
(E)
consular invoice
94
Which of the following is not an element of the marketing mix?
Хариулт
(D)
Merchandising
95
Retail outlets which sell from specialized vans are?
