An example of a service-rendering trade association is?
Answer
(A)
Nigeria Bar Association
2
An obstacle to international trade is?
Answer
(D)
cost of finance
3
The right of ownership with respect to goods or property is?
Answer
(D)
certificate of occupancy
4
The main motive of chambers of commerce and trade association is to?
Answer
(D)
protect and promote the interests of members
5
A pattern that shows the kinds of participants involved in the production, distribution and ultimate use of a product is referred to as?
Answer
(C)
structure
6
Goods that are manufactured or acquired by the seller after the contract of sale are?
Answer
(C)
specific goods
7
Use the information below to answer questions 7 and 8.
Ojo purchased the following items from Sani at the specified prices on credit:
200 cartons of milk at N1,000 per carton; 50 bags of rice at N3 000 per bag.
Sani allowed 10% trade discount and 5% cash discount if payment is made within the agreed period. Ojo paid within the agreed period.
What was the amount paid by Ojo?
Answer
(C)
N363,375
8
Ojo purchased the following items from Sani at the specified prices on credit:
200 cartons of milk at N1,000 per carton; 50 bags of rice at N3 000 per bag.
Sani allowed 10% trade discount and 5% cash discount if payment is made within the agreed period. Ojo paid within the agreed period.
How much was the trade discount?
Answer
(A)
N42.500
9
The basic functin of the Nigeria Ports Authority is to?
Answer
(D)
coordinate the activities of all the seaports in the country
10
The concept that refers to the sale, transfer or exchange of goods and service is?
Answer
(B)
trade
11
A guarantee given by one person or party to another in which the integrity of the person is assured is?
Answer
(A)
fidelity
12
A firm that adapts itself to delivering the desired satisfaction more effectively than its competitors is said to be practicing?
Answer
(D)
markting concept
13
The payment made periodically in respect of an insurance policy entered into is known as?
Answer
(C)
premium
14
An example of service rendered by NIPOST is?
Answer
(D)
mail delivery
15
The focal point of marketing is?
Answer
(D)
sales
16
The type of marine insurance which covers either damage or loss to the vessel and such as caused by it to other vessel is?
Answer
(A)
hull insurance
17
The management function that makes the difference in intensity of behavior is?
Answer
(C)
motivation
18
One of the functions of seaports is the provision of?
Answer
(B)
loading and off-loading facilities
19
The process of dividing task into jobs and departments and of delegating authority is known as?
Answer
(D)
organizing
20
Communication process involves the transmission of a message over a selected channel to the?
Answer
(A)
receiver
21
Stimulation of demand is a kind of communication in marketing which connotes?
Answer
(C)
advertising
22
A functional structure is an organizational structure in which?
Answer
(C)
a specialist enforces his directives
23
Entrepreneurship mainly involves?
Answer
(A)
risk-taking
24
In the event of the liquidation of a company, the first to be settled are?
Answer
(A)
debenture holders
25
The business organization established mainly for the purpose of carrying out specific assignments for a specific duration is a?
Answer
(A)
joint venture
26
Which oft these factors of production is relatively fixed in supply?
Answer
(D)
Natural resources
27
The location of a business is mostly influenced by?
Answer
(D)
environment
28
The evolution of commerce in Nigeria is traceable to the?
Answer
(B)
desire by human beings to satify their needs through the services of other people inthe society
29
One of the requirements necessary for setting up a business is?
Answer
(C)
knowledge of the business
30
The assembling of products into usable forms is known as?
Answer
(A)
construction
31
The government policy thrust on the business environment is to?
Answer
(B)
attract investors
32
The act of a person employing another to enter into a contract on his behalf is known as?
Answer
(D)
agency
33
Social responsibility of an organization to?
Answer
(C)
contribute to sustaining and developing its community
34
The ECOBANK is the initiative of?
Answer
(C)
West African states tto foster trade
35
Privatization is concerned with?
Answer
(C)
the individual ownership of companies
36
Electronic computers differ and minimize errors in a?
Answer
(A)
faster and more accurate manner
37
A major benefit derivable from the privatization and commercialization of public enterprises in Nigeria is?
Answer
(D)
revenue generation
38
The device which interprets and carries out the instructions presented to it by the computer program is known as?
Answer
(B)
microprocessor
39
The market structure, business conditions and financial system in Nigeria constitute the?
Answer
(A)
economic enironment
40
The protection of consumers against exploitation by manufacturers is to ensure?
Answer
(B)
that the right quality of goods and services is sold
41
The most widely used computer language that focuses on solving science-oriented problems is?
Answer
(A)
FORTRAN
42
Banks are engaged in the business of buying and selling of?
Answer
(A)
bills of exchange
43
A source of short-term finance to companies is?
Answer
(C)
retained earnings
44
An essential factor for evaluating the different sources of funds for a business is the?
Answer
(B)
ownership structure of the business concern
45
The body with the responsibility to register shares for subscription on the stock market in Nigeria is the?
