A partnership may be automatically dissolved due to the following factors except________
Answer
(A)
Court verdict
2
One of the disadvantages of Sole Proprietorship is__________
Answer
(C)
It lacks specialization
3
In the formation of a united liability company, the following documents are prepared except_______
Answer
(D)
Prospectus
4
The process of winding up or bringing a company to an end is________
Answer
(A)
Dissolution
5
Use the following information to answer this question.
The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018
Initial Capital
5000
Net Profit
1000
Furniture
2000
Equipment
2900
Debtors
100
Stock
1000
Bank
500
From the above, calculate Current assets
Answer
(A)
1600
6
The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018
Initial Capital
5000
Net Profit
1000
Furniture
2000
Equipment
2900
Debtors
100
Stock
1000
Bank
500
From the above, calculate Fixed assets
Answer
(C)
4900
7
The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018
Initial Capital
5000
Net Profit
1000
Furniture
2000
Equipment
2900
Debtors
100
Stock
1000
Bank
500
From the above, calculate Current liabilities
Answer
(C)
600
8
In a law of contract, what is given in exchange for a promise to perform is_____
Answer
(D)
consideration
9
In Nigeria, it is mandatory for all business enterprises to be registered with the________
Answer
(B)
Corporate Affairs Commission
10
All but one does not provide an Indirect Service?
Answer
(B)
Family Doctors
11
Examples of Commercial occupation are all except___________
Answer
(D)
Goldsmith
12
All but one is not an output devices?
Answer
(A)
Joystick
13
A self-contained chunk of code with principal aim to replies preferably undetected and to copy itself into the computer's memory and the computer's hard-disk is_________
Answer
(D)
Virus
14
The risks that can be forecast and measured is termed___________
Answer
(B)
Insurable risks
15
The type of insurance policy that is compulsory in International trade so that all goods passing through the sea must be covered is considered to be________
Answer
(C)
Marine Insurance
16
Thee major aim of consumer orientation is_________
Answer
(A)
consumer satisfaction
17
The policy used when contracts are awarded as a result of tender is________
Answer
(C)
Bid Pricing
18
One of these is not a major in the production process?
Answer
(C)
Marketers
19
Examples of consumer goods include all except________
Answer
(B)
Cars
20
The most important resources of business is_______
Answer
(A)
Human resources
21
A business environment that take into consideration the beliefs, attitudes, needs, values and attitudes of the people is_________
Answer
(D)
Cultural environment
22
An example of vertical integration is___________
Answer
(A)
Trust
23
A company which another company is a member and control the board of directors or hold more than half of its equity is termed_______
Answer
(D)
Parent company
24
The theory of International trade is based on_________
Answer
(B)
Principles of comparative cost
25
A fall in the value of a country's currency vis-a-vis other currencies is known as__________
Answer
(C)
Devaluation
26
A market is said to be bullish if_________
Answer
(B)
There is a rise in prices of Securities
27
One of these is not a factor affecting prices of securities?
Answer
(D)
Financial statements of the company
28
A commission charged on postal order is__________
Answer
(C)
poundage
29
A terms of payment in which the buyer pays cash immediately for goods bought before he takes them away is called____
Answer
(C)
Spot cash
30
A cheque that is payable to whoever presents it is known as______
Answer
(D)
bearer cheque
31
A two-way process which involves sending and receiving of messages is referred to as__________
Answer
(B)
Communication
32
The scope of commerce is limited to________
Answer
(C)
trade and aids to trade
33
All but one is not a demerit of advertising?
Answer
(C)
Increase in profit
34
Advantages of pipeline transport include all except_______
Answer
(D)
Prone to leakages
35
The factors to be considered in setting up retail trade include all except_____
Answer
(D)
Age
36
A responsibility to control environmental pollution is the responsibility of____
Answer
(A)
The business
37
The following development of money have therefore been the use of, except______
Answer
(D)
Abacus
38
Tourism involving residents of the given country travelling only within this country is called__________
Answer
(A)
Domestic Tourism
39
The headquarters of Niger Basin Commission is located at________
Answer
(B)
Niamey
40
A document which entitles its holder to the gods named on it, which is stored in a specific warehouse is called________
Answer
(C)
Warrant
41
The difference between Articles of association and memorandum of Association is that the latter deals
Answer
(B)
with the powers and relationships of the company with outsiders
42
All except one is not a corporation and boards at the federal level
Answer
(D)
MAN
43
The basic characteristics of co-operative society include all except one
Answer
(C)
Amateur Management
44
The basic characteristics of co-operative society include all except one
Answer
(B)
It follows the principle of one man
45
Which of the limited liability companies have a limit of fifty members and do not issues their shares to the public
Answer
(A)
Private limited liability
46
Gross profit
Answer
(B)
3000
47
Net profit
Answer
(C)
1600
48
Percentage of net profit to turnover
Answer
(D)
20%
49
An offer extended to several people at once is called
Answer
(C)
Invitation to threat
50
A counter offer is an offer that is
Answer
(A)
different from the original offer
51
Services are made up of
Answer
(C)
direct and indirect services
52
The assembling of Manufactured products into forms usable by humans is classified as
Answer
(B)
Construction occupation
53
Computer that process data in the form of values is
Answer
(D)
Analog
54
A memory that can be read and write and is volatile is known as
Answer
(A)
RAM
55
You have just bought a new car. What Insurance policy will you take to cover it?
Answer
(A)
Accident Insurance
56
A document that embody the conditions and exceptions attached to the contract is
Answer
(C)
the policy
57
The communication aspect of the marketing mix is
Answer
(B)
Promotion
58
Any information about a manufacturer or his product that appears in any medium on a non-paid basis is known as
Answer
(D)
Publicity
59
All activities that contribute towards making goods and services available to the people are
Answer
(C)
Productive activities
60
Which of these is not a merit of division of labour
Answer
(D)
Creates monotony in the work force
61
Which of these is not a merit of division of labour
Answer
(D)
Creates monotony in the worktask
62
The function of management that establish objectives for the organization and trying to determine the best ways to accomplish them
Answer
(B)
planning
63
The provision of qualified managerial and other skilled personnel for an enterprise is called
Answer
(D)
Staffing
64
A number of shipping lines operating on a certain route, which agree on a common policy regarding the conditions under which goods are to be carried
Answer
(B)
Conference
65
The difference between a chamber of commerce and a trade association is that the former
Answer
(A)
is not restricted to a particular industry
66
Which of these is a document used in International trade?
Answer
(C)
Invoice
67
All but one is not a barriers to foreign trade
Answer
(D)
Trade Fair
68
The difference between the buying price and the selling price of a share is referred to as
Answer
(C)
Jobber's Profit
69
A bear market is said to be in existence in a period of
Answer
(B)
Stump
70
Use the following information to answer this question.
Oladosu Bookshop
54, Ahmadu Bello Way
Kaduna
P.O.BOOX 336
6 January 1989
Olu Stationery ltd
17, Kakawa Street
Lagos
Dear Sir,
We require 200 pieces of 0.8mm fountain pens and 1000 pieces of plain single line 21cm × 18cm exercise books.
Please give us quotes for the respective articles for immediate delivery and a statement of your terms of trade.
Yours Faithfully
Manager.
The above represents?
Answer
(C)
Letters of Inquiry
71
Use the following information to answer this question.
Oladosu Bookshop
54, Ahmadu Bello Way
Kaduna
P.O.BOOX 336
6 January 1989
Olu Stationery ltd
17, Kakawa Street
Lagos
Dear Sir,
We require 200 pieces of 0.8mm fountain pens and 1000 pieces of plain single line 21cm × 18cm exercise books.
Please give us quotes for the respective articles for immediate delivery and a statement of your terms of trade.
Yours Faithfully
Manager.
From the question above, the document the firm or organization will send to the buyer is
Answer
(D)
Quotations
72
First Bank of Nigeria is an example of
Answer
(A)
Commercial bank
73
An abridged message sent at express speed to reach its destination faster than the airmail letters is known as
Answer
(B)
Telegram
74
Commerce brings about all except one
Answer
(C)
Monotony of work
75
Booklets containing a range of products, their uses and prices are called
Answer
(C)
Catalogues
76
All harbours, docks and waterways of Nigeria are looked after by a public corporation called the
Answer
(B)
Nigerian Ports Authority
77
What is NPA?
Answer
(B)
Nigerian Ports Authority
78
One of these is not part of small-scale retailers
Answer
(C)
Supermarkets
79
The Sole aim of government owned business is to
Answer
(B)
provide services to the public
80
Which function of money is described in the following statement?
It serves as a medium through which business transactions are carried out
