Which of the following is not the duty of an entrepreneur?
Хариулт
(E)
Decision on the amount of tax to pay
2
The difference between the total amount of money received by a country and the total amount paid to other countries within a given period is the
Хариулт
(C)
balance of payments
3
Which of the following is used to transmit typed messages over long distances?
Хариулт
(B)
Teleprinter
4
When a company buys up firms supplying it with raw materials, this is an example of
Хариулт
(C)
backward integration
5
Industrial, commercial and direct services are branches of
Хариулт
(B)
occupation
6
The primary purpose of credit cards is to
Хариулт
(A)
obtain goods without paying cash on the spot
7
Containers are suitable for transporting goods by
Хариулт
(E)
road, sea and rail
8
Which of the following is not a credit instrument used in business transactions?
Хариулт
(E)
Fuel voucher
9
An insurance company shares its accepted risk with others in the form of
Хариулт
(A)
reinsurance
10
Which of the following stresses the use of only specialists to head departments?
Хариулт
(D)
Functional organisation structure
11
The process of involving local businessmen in the ownership and control of businesses that were formerly owned by foreigners is called
Хариулт
(C)
indeginization
12
Which of the following functions is not performed by retailers?
Хариулт
(D)
Insuring goods for customers
13
Which of these management functions involves checking performance against set standards?
Хариулт
(A)
Controlling
14
The form given by the Customs Authority to enable an importer examine goods before the arrival of the bill of lading is known as
Хариулт
(B)
certificate of origin
15
An organization that builds access roads for the benefit of the community in which it is located has fulfilled its
Хариулт
(C)
social responsibility
16
Which of the following is applicable to foreign trade only?
Хариулт
(E)
Consular invoice
17
The department that deals with internal grievances and maintenance of discipline in an organization is the
Хариулт
(C)
personnel
18
Another name for consignment note is
Хариулт
(B)
waybill
19
Specialization is possible as a result of
Хариулт
(E)
exchange
20
Which of the following may serve as delivery note?
Хариулт
(C)
Invoice
21
Mr Chidi insured his house against fire. The house was destroyed by flood. Which of the following principles prevented him from being compensated?
Хариулт
(D)
Proximate cause
22
The price charged for leasing a ship is known as
Хариулт
(D)
freight
23
Goods in bonded warehouses are under the strict supervision of the
Хариулт
(A)
Customs Authority
24
Which of the following regulates and controls the activities of the Nigerian Stock Exchange?
Хариулт
(B)
The Securities and Exchange Commmission
25
Which of the following is drawn up as a guide to the running of a Partnership?
Хариулт
(A)
Deed of Agreement
26
The law governing the operations of companies and partnership in Nigeria is the
Хариулт
(D)
Companies And Allied Matters Decree
27
Which of the following is a non-indemnity insurance?
Хариулт
(A)
Personal Accident Insurance
28
The document issued to a newly formed public company to commence business is called the
Хариулт
(D)
trading certificate
29
Small scale retail attracts a lot of new enterpreneurs in West Africa because
Хариулт
(D)
only a small amouynt of capital is needed to start the business
30
In marine insurance, the deliberate throwing of some goods into the sea to prevent the ship from sinking is an example of
Хариулт
(C)
a general average loss
31
Tax levied on goods at each stage of their movement from production to the final consumer is known as
Хариулт
(D)
value added tax
32
An association of businessmen engaged in both commerce and industry is called
Хариулт
(C)
chamber of commerce
33
When the government decides to run a statutory corporation as a profit-oriented enterprise, this is known as
Хариулт
(B)
commercialization
34
The primary aim of commerce is to
Хариулт
(E)
exchange goods and services
35
Which of the following is has a fixed rate of dividend?
Хариулт
(D)
Preference share
36
Which of the following is not a barrier to the smooth functioning of ECOWAS?
Хариулт
(C)
Adequate population
37
The capital market is a market
Хариулт
(A)
for long term loans
38
Which of the following is primarily established to promote the growth of industry in Nigeria?
Хариулт
(D)
NIDB
39
Another name for sea taxi is
Хариулт
(A)
tramp
40
Contracts for the carriage of goods by sea are generally called
Хариулт
(D)
time charter
41
A nation's earnings from tourism are classified as
Хариулт
(B)
invisible exports
42
An association of employees in an organization is called a
Хариулт
(A)
trade union
43
A firm that accepts a portion of the risk involved in an insurance contract is
Хариулт
(D)
an underwriter
44
Musa places the bicycle for sale at #800.00 and Dada had agreed to pay the amount. In this transaction, Musa is the
Хариулт
(A)
offerer
45
When goods are sent through an independent carrier, the document used by the sender is
Хариулт
(D)
a consignment note
46
Which of the following may not be considered when choosing an appropriate channel of distribution for a new product?
Хариулт
(E)
Provision of credit facilities to customers
47
Which of the following may be used to restrict imports?
i. Bill of lading ii. Specific Licenses iii.Foreign exchange rationing iv. Letters of credit v.Customs duties and tariffs
Хариулт
(B)
ii, iii and v only
48
Which of the following is not a reason for dishonoring a cheque?
Хариулт
(E)
Special crossing
49
Which of the following is not true of a private limited company?
Хариулт
(B)
its shares are freely transferable
50
A retail co-operative society aims at
Хариулт
(E)
cutting off the profits of middlemen
51
The value of a product expressed in monetary terms is known as
Хариулт
(B)
price
52
Which of the following is not true of franking machines ?
Хариулт
(E)
Postage stamp is used
53
Which of the following is suitable for transporting fish a long distance?
Хариулт
(E)
Refrigerated ship
54
Which of the following is not an element of a contract?
Хариулт
(B)
Probability
55
Which of the following is an advantage of personal selling?
Хариулт
(A)
Immediate feedback
56
A partner who does not play an active role in a business but contributes capital is a
Хариулт
(B)
dormant partner
57
Which of the following is not included in the Memorandum of Association?
Хариулт
(A)
Winding up procedure
58
Which of the following is not a source of capital?
Хариулт
(B)
Credit transfer
59
The contract between ship owners and hires whereby the hires take full control of the ship is called?
Хариулт
(E)
charter party
60
Which of the following does not aim at protecting the customer?
Хариулт
(D)
Partnership Act
61
Which of the following activities makes the consumer its focus in decision making?
Хариулт
(B)
Marketing concept
62
Which of the following is a direct service?
Хариулт
(B)
Teaching
63
Which of the following is a disadvantage of foreign trade?
Хариулт
(A)
Encourages dumping
64
An agreement that is enforceable in law is called?
Хариулт
(A)
a contract
65
A document signed by a customs officer of the exporting country to confirm the country of export of the goods is
Хариулт
(C)
a certificate of origin
66
For which of the following reasons would a seller not issue a credit note to a customer? If
Хариулт
(A)
goods are undercharged
67
A statement of account is a
Хариулт
(E)
summary of a customer's transactions over a given period
68
Management is
Хариулт
(A)
getting things done through other people
69
The sum of money the assurer is prepared to pay the assured in total discharge of a contract before its maturity is
Хариулт
(D)
surrender value
70
Which of the following services is not rendered by NIPOST
Хариулт
(D)
Telephone
71
Which of the following functions may not be performed by a whole saler?
Хариулт
(E)
Manufacturing
72
The commercial term "Caveat emptor" means, Let the
Хариулт
(A)
buyer beware
73
Which of the following is not a business resource?
Хариулт
(A)
Wages
74
In which of the following business units are the owners mostly the customers?
Хариулт
(A)
Co-operatives
75
Which of the following is not a way of raising capital for business?
Хариулт
(E)
Issuing dividend warrants
76
In a business environment, which of the following variables can a business man conveniently control?
Хариулт
(A)
Product
77
Which of the following is not a reason for imposing import duties? To
Хариулт
(B)
improve quality of goods for consumers
78
The face to face contact between sellers and buyers with the aim of selling a product is known as
Хариулт
(A)
personal selling
79
Which of the following is the main tool of mass selling
Хариулт
(E)
Advertising
80
The allowance given to a retailer to enable him make a profit is known as
Хариулт
(C)
trade discount
81
One of the features of a supermarket is
Хариулт
(C)
selling common household goods
82
A group of public limited companies that commonly own a joint venture is known as
Хариулт
(B)
consortium
83
Which of the following clearly defines business?
Хариулт
(E)
Any productive activity undertaken for profit motive
84
Which of the following ensures that the quality of a product is maintained?
Хариулт
(D)
Standards Organisation of Nigeria
85
Which of the following will enable customs officers to correctly assess import duties on goods?
Хариулт
(E)
Bill of laden
86
An insurance policy which benefits one's family only is in the event of one's death is known as
Хариулт
(B)
a whole-life insurance
87
One of the demerits of sole trading is
Хариулт
(C)
unlimited liability
88
A group of people in the same line of business who come together for the interest of its members is called
Хариулт
(B)
trade association
89
A foreign order which instructs an agent to buy certain goods at a particular place called
Хариулт
(D)
closed indent
90
The shares of XYZ Plc are quoted at the stock exchange by a jobber at 85k for k share. How much will Alabi, an investor who buys 500 shares pay?
