Which of the following is NOT part of Pre-Sales Service/ice?
Answer
(A)
granting of credit or hire purchase sales facilities
2
Which of the following does a seller send in reply to a letter of inquiry?
Answer
(A)
quotation
3
The sum which the insured pays periodically to his insurance company is called
Answer
(D)
a premium
4
The main objective of nationalization of industries is to
Answer
(D)
bring an Industry under state ownership and control
5
Closing stock is also known as
Answer
(A)
stock at close
6
The first Nigerian enterprises promotion decree was promulgated in
Answer
(B)
1973
7
An agreement that is enforceable in law is called
Answer
(C)
a contract
8
A tax paid on goods manufactured and consumed in your country is called
Answer
(A)
excise duty
9
Which of the following is NOT an aim of advertising?
Answer
(C)
reducing the cost of the goods produced
10
Prospectus in relation to a public limited inability company means
Answer
(C)
an invitation to the public to buy shares
11
An allowance made to a customer for prompt payment is known as
Answer
(C)
cash discount
12
A person who runs a business on his own account is called a
Answer
(B)
sole trader
13
All the following are principles of insurance EXCEPT
Answer
(B)
particular average
14
One of the following does NOT fit into the group.
Answer
(B)
carpentry
15
A public limited liability company is owned by
Answer
(B)
shareholders
16
An instruction to an agent abroad restricting him to buy from a named manufacturer is known as
Answer
(C)
a closed indent
17
Which of the following can be used to establish an importer's title to goods?
Answer
(C)
bill of lading
18
Fishing is an example of
Answer
(C)
extractive industry
19
Which of the following CANNOT be sold through a vending machine?
Answer
(A)
shoes
20
The rights of the consumers does NOT include
Answer
(C)
the right to fix prices
21
Banks issue cheque books to customers holding ___________ accounts.
Answer
(B)
current
22
A bill of exchange sold for less than its face value before maturity is said to be
Answer
(D)
discounted
23
A multiple shop has many stores which sell
Answer
(D)
similar goods
24
The relationship between a country's visible imports and exports in a trading year is known as
Answer
(A)
balance of trade
25
Which of the following warehouse is generally found near a port?
Answer
(B)
bonded warehouse
26
The service rendered by NIPOST in which letters are addressed to any post office to await collection by the addressee is known as
Answer
(C)
free post service
27
Which area of law is NOT related to business?
Answer
(C)
possession
28
A holding company is one which holds shares in another company up to
Answer
(A)
51%
29
The breaking down of work into different processes is known as
Answer
(B)
division of labour
30
Which of the following is NOT regarded as a welfare service in an organization?
Answer
(A)
training
31
The policy designed to accelerate the greater participation of Nigerians in the ownership and management of business enterprises in Nigeria is called
Answer
(B)
indigenity
32
Which of these is used in calculating working capital?
Answer
(B)
stock of raw material
33
Obi received a cheque for #1000 from Mr. Ade and this cheque was stolen. He must
Answer
(B)
inform his bank to stop payment
34
A contract in which all parties to the contract have carried out their obligation is said to be terminated by
Answer
(A)
performance
35
The deliberate throwing of some goods into the sea to prevent the ship from sinking is an example of
Answer
(C)
a general average loss
36
Which of the following is NOT part of the marketing mix?
Answer
(D)
personnel
37
Shares are said to be sold at a discount when they are sold
Answer
(A)
below par
38
When the price quoted includes all the cost to the actual destination, that is, from the seller's warehouse to the buyer's warehouse. it is called
Answer
(B)
franco
39
The body charged with the responsibility monitoring the quality of goods supplied is the
Answer
(C)
Nigerian standards organization
40
The difference between the higher prices and the lower prices quoted for shares and stocks at the stock exchange is known as
Answer
(D)
jobbers turn
41
Stock exchange quoted the shares of ABC Plc at #0.75K for #1.25K per share. This means the shares were sold at a
Answer
(B)
premium
42
The components of a balance of payments account are
Answer
(B)
current, capital and monetary movement
43
Ships that pick up cargo from any port and travels anytime are called
Answer
(C)
tramps
44
Which of the following advertising media preselects its readership through the nature of its content?
Answer
(A)
Magazine
45
Branding is the assigning of trade marks to goods for the purpose of......... by the public.
Answer
(D)
identification
46
Which of the following services is NOT rendered by NITEL?
Answer
(B)
Recorded Delivery
47
The act of being on one job for expertise is called
Answer
(D)
specialization
48
Which type of advertisement induces consumer to purchase the goods he does not need?
Answer
(C)
Persuasive
49
Tariff can be defined as a compulsory levy on
Answer
(C)
imported goods only
50
Which of the following is NOT a credit instrument?
Answer
(D)
Bill of Lading
51
Transfer of ownership of goods sold under Hire Purchase System takes place when
Answer
(D)
the final instalment is paid
52
The document which gives complete information about the goods sold is the
Answer
(A)
invoice
53
A typical example of an event covered by an Assurance Policy is
Answer
(B)
death
54
The functions of public corporations include the following EXCEPT
Answer
(B)
maximizing profits for the board members
55
Which of the following forms part of a company's Article of Association?
Answer
(D)
Name of the company
56
A wholesaler who acts as an agent on behalf of the owner of the goods in buying or selling for a commission proportionate to the value of the transaction is called a
Answer
(C)
factor
57
The coming together of two or more firms with each of them losing its identity is known as
Answer
(D)
amalgamation
58
Use the information below to answer this question.
Aisha sold her wristwatch to Halima for #2,000.00 and she paid. The sum of #2,000.00 is the
Answer
(B)
consideration
59
The term "consumer sovereignty" means that the consumer is a
Answer
(B)
king
60
The activities concerned with changing of raw materials into finished products belong to __occupation.
Answer
(D)
manufacturing
61
The following are functions of marketing EXCEPT
Answer
(C)
insurance
62
The documents sent by the suppliers of good to a prospective buyer, informing him of what to pay if he buys the good is
Answer
(C)
invoice
63
Departmental store, supermarket and chain store are examples of
Answer
(C)
large scale retailers
64
The rules and regulations guiding the conduct of business transactions are known as law
Answer
(D)
commercial
65
The principle of insurance which ensures that an individual is restored to his former position after suffering a loss is
Answer
(C)
indemnity
66
The aid to trade which enables producer and consumer to transact business without physical contact is known as
Answer
(B)
communication
67
The association that encourages savings for the benefit of its members is known as
Answer
(B)
Credit and thrift co-operative society
68
Bonded warehouse is controlled and supervised by
Answer
(A)
customs
69
The advertising medium which uses electric current in bulbs is referred to as
Answer
(C)
neon signs
70
Which of these is NOT a governments legislation to protect the consumer?
Answer
(C)
Privatization and commercialization
71
A ship which has no fixed schedule and travels wherever it can find cargoes to carry is a
Answer
(C)
tramp
72
The Nigeria Enterprises promotion Decree brought about policy
Answer
(C)
indigenization
73
In the event of winding up of a company, who among the following is paid last?
Answer
(B)
Ordinary shareholders
74
Gross profit can be calculated as
Answer
(B)
Sales minus cost of good sold
75
One of the easiest means of transporting petroleum product is by
