Which of the following are the components of commerce?
I Trading and advertising
II Warehousing and transportation
III Packaging and branding
IV Insurance and banking
Răspuns
(C)
I, II and IV
2
A royal charter was granted to the Royal Niger Company to do business in Nigeria in
Răspuns
(C)
July 1886
3
Transport, retailing and wholesaling industries rely heavily on
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(C)
manufacturing
4
An example of indirect service is rendered by
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(A)
civil servants
5
The mode of transportation that is noted for on time dependability and low cost peer unit on gods carried is?
Răspuns
(B)
air
6
The person who undertakes any risk in insurance business is known as
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(B)
an underwriter
7
The main purpose of insurance is to
Răspuns
(D)
spread individual losses ove all covered participants
8
The object of the business are determined by the
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(C)
society
9
Partnership are most suitable where
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(B)
professionals are involved
10
Use the conversation below to answer the question below;
MUSA: Taiwo why are you in business?
TAIWO: To optimize profit, provide quality products, and discharge my social responsibilities. What of you, Okon and Kalu
OKON: I am in business to cater to the needs of the consumers at all costs.
KALU: I am in business to make a profit, provided quality products at reasonable prices, and establish a good reputation for myself.
The businessman that may end up not discharging his social responsibility is--------------------
Răspuns
(D)
Kalu
11
The business organization in which shareholder's have equal vote is
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(C)
co-operative
12
The major objective of corporate mergers is to
Răspuns
(D)
enhance economies of scale
13
When it became necessary to liquidate a company, the frist step to be taken is the appointment of
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(D)
liquidator
14
In which of the following circumstances is a court order NOT necessary for the winding up of a company?
Răspuns
(B)
special resolution of members
15
One type of investment that have a variable income is
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(D)
ordinary shares
16
A term which indicates that share is temporarily suspended is
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(A)
ex-dividend
17
Leasing is the right to use asset for an agreed period in return for
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(D)
rents
18
The form of business financing which involves pledging of a specific asset is
Răspuns
(B)
mortgage
19
The total amount that a company is allowed to raised according to its memorandum of association is known as
Răspuns
(B)
authorized capital
20
A public limited liability company having a nominal capital made up of 200 000 ordinary shares of 50k each decided to issued 50% of it to the public.
What is the authorized capital?
Răspuns
(B)
N50 000
21
The turnover of firm maybe affected by
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(A)
the demand for its product
22
The cost of transporting goods to consumers called
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(D)
carried outward
23
The main aim of selling directly to consumers by manufactures is to
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(A)
dis courage the activities of middlemen
24
In foreign trade, document of title is known as
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(A)
bill of lading
25
Excise duties are paid on goods that are
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(B)
manufactured within the company
26
Stevedores as a term in foreign trade means men who
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(D)
load and unload ships
27
A close indent is an instrument to an agent to
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(A)
order goods from a particular manufacturer
28
The basic distinction between cash discount and trade discount is that while trade discount is
Răspuns
(D)
a reduction in the value of sales, cash discount is a reduction in price of goods
29
The cost that raises from failure to load or unload a ship at the port within a stipulated period is known as
Răspuns
(B)
demurrage charges
30
Bank giro is a system where?
Răspuns
(D)
a customer closes his account by writting cheque
31
Commercial banks are referred to as departmental stores of banking because they
Răspuns
(D)
offer many types of services
32
A markets where new shares are trade is known
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(A)
primary market
33
When a firm speaker of stock appreciation, it refers to
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(C)
an unexpected increase in the demand of its stock
34
The process of creating more for a product is called?
Răspuns
(C)
promotion
35
When a vendor supplies newspapers from house to house and across the streets, the element of marketing mix involved is
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(D)
place
36
The main advantage of using cinema as an advertising medium is that it is
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(C)
accessible
37
When old customers stick to the old place to buy goods and services,it is known as
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(A)
goodwil
38
The most important pieces of legislation governing business and commercial activities in Nigeria currently is the
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(C)
Companies and Allied matters degree,1990
39
One of the criteria for differentiating consumers markets from industrial ones is the
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(A)
type of demand
40
Th overriding objective of the food and drug act in Nigeria is too prevent the
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(D)
manufactures of food and drug from charging excessive prices
41
The activities of consumers association in Nigeria have not been effective because
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(D)
the consumers have no medium for expressing their feelings
42
The least of the advantages of indigenization is that
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(A)
the standard of living of the indigenes is improved
43
The main objective of a trade association can best be described as promoting and protecting
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(D)
customer's interest
44
The management function of evaluating whether objectives are being achieved is
Răspuns
(D)
controlling
45
In a business organization, the annual operation plan or budget is a form of
