Which of the following is not a function of commerce?
Answer
(A)
advertising goods
2
Which of the following is not a function of commerce?
Answer
(A)
advertising goods
3
Which of the following is not a function of commerce
Answer
(C)
increasing profit made
4
Any activity that changes raw materials into consumer or industrial goods is
Answer
(D)
manufacturing
5
The divisions of production are
Answer
(C)
industry,commerce and services
6
Risks in business are borne by the
Answer
(B)
entrepreneur
7
The main aim of credit and thrift societies is to
Answer
(D)
encourage savings among members
8
In which of the following business units are profits shared on the basis of membership patronage?
Answer
(C)
co-operative society
9
A business becomes a separate legal entity after it has
Answer
(B)
been incorporated
10
The amalgamation of firms engaged in cotton processing and the manufacturing of textiles is
Answer
(B)
vertical integration
11
A private company's ability to raise capital is limited because
Answer
(D)
of limited collateral security
12
An increase in the volume of sales is also an increase in
Answer
(B)
turnover
13
The working capital of a firm is calculated as
Answer
(A)
current assets minus current liabilities
14
Dividend is always expressed as a percentage of total
Answer
(B)
value of shares owned
15
Which of the following is a duty of the Employers Association?
Answer
(B)
establishing a uniform wage scale
16
A very effective way of resisting the producer's exploitation is to
Answer
(C)
form consumer's association
17
Which of the following makes sales possible without a sales attendant ?
Answer
(C)
vending machine
18
Which of the following distinguishes supermarkets from other retail outlets
Answer
(B)
standard shop fronts
19
Manufacturers sell directly to consumers when they
Answer
(A)
want to make profit
20
Which of the following is regarded as a document of title in foreign trade?
Answer
(D)
certificate of origin
21
The most acceptable means of payment in foreign transaction is
Answer
(C)
irrevocable letters of credit
22
Which of the following is not a function of the Ports Authority
Answer
(C)
providing storage and warehousing facilities at the docks
23
Terms of trade refers to
Answer
(C)
the relationship between export and import prices
24
The aid to trade responsible for the preservation of perishable items is
Answer
(A)
warehousing
25
Which of the following abbreviations permits the seller to correct any error in an invoice?
Answer
(B)
C.I.F
26
C % F as a price quotation in foreign trade means that the buyer
Answer
(B)
has to pay for cost and freight
27
A bill of exchange is made more negotiable if it has been
Answer
(B)
accepted
28
A bill of exchange is made up more negotiable if it has been
Answer
(B)
accepted
29
The primary objective of insurance is to
Answer
(C)
give loan to business men
30
Which of the following services is rendered by Central Bank?
Answer
(D)
issuing currency notes
31
Which of the following gives businessmen the opportunity to buy shares of public limited companies?
Answer
(D)
the stock exchange
32
The liquid assets of commercial banks are
Answer
(C)
deposit accounts and cash
33
The insurance policy which covers damages to the body of a ship is
Answer
(D)
hull insurance
34
Which of the following central bank functions inspires confidence in the banking system in case of emergency?
Answer
(B)
lender of last resort
35
Which of the following proves that important documents have reached their destination?
Answer
(D)
express delivery services
36
The main advantage of sea transport over air transport is
Answer
(A)
capacity
37
The mode of transport that conveys goods at low cost per unit is
Answer
(B)
rail
38
Any activity aimed at creating more markets for a product is
Answer
(A)
packaging
39
Activities aimed at boosting the image of an organization are regarded as
Answer
(D)
consumer protection
40
When consumers are unaware of the quality of a product, the best advertising technique to use is
Answer
(C)
direct advertising
41
Which of the following is not an obstacle to the achievement of the objectives of ECOWAS
Answer
(D)
slow pace of development of member countries
42
Musa entered into a contract to supply two cows to Aro. Before the agreed date of supply and without the knowledge of the two parties, thieves stole the cows. This is an example of termination of contract by
Answer
(A)
default
43
Abuse and monopoly of power by industrialists could lead to
Answer
(C)
nationalization
44
Which of the following is an objective of indigenization policy? To
Answer
(D)
encourage more production
45
One of the objectives of ECOWAS is to
Answer
(C)
promote trade within the region
46
The amount of insurance premium to be paid depends on the
Answer
(C)
number of insurance companies in a place
47
Which of the following is the main task of the Marketing Manager whose company has adopted the marketing concept? To
Answer
(B)
maintain the company's share of the market
48
The Money Market is the
Answer
(B)
market for short-term loans
49
The choice of medium used in advertising is not determined by the
