Which of the following is not the duty of an entrepreneur?
Răspuns
(E)
Decision on the amount of tax to pay
2
The difference between the total amount of money received by a country and the total amount paid to other countries within a given period is the
Răspuns
(C)
balance of payments
3
Which of the following is used to transmit typed messages over long distances?
Răspuns
(B)
Teleprinter
4
When a company buys up firms supplying it with raw materials, this is an example of
Răspuns
(C)
backward integration
5
Industrial, commercial and direct services are branches of
Răspuns
(B)
occupation
6
The primary purpose of credit cards is to
Răspuns
(A)
obtain goods without paying cash on the spot
7
Containers are suitable for transporting goods by
Răspuns
(E)
road, sea and rail
8
Which of the following is not a credit instrument used in business transactions?
Răspuns
(E)
Fuel voucher
9
An insurance company shares its accepted risk with others in the form of
Răspuns
(A)
reinsurance
10
Which of the following stresses the use of only specialists to head departments?
Răspuns
(D)
Functional organisation structure
11
The process of involving local businessmen in the ownership and control of businesses that were formerly owned by foreigners is called
Răspuns
(C)
indeginization
12
Which of the following functions is not performed by retailers?
Răspuns
(D)
Insuring goods for customers
13
Which of these management functions involves checking performance against set standards?
Răspuns
(A)
Controlling
14
The form given by the Customs Authority to enable an importer examine goods before the arrival of the bill of lading is known as
Răspuns
(B)
certificate of origin
15
An organization that builds access roads for the benefit of the community in which it is located has fulfilled its
Răspuns
(C)
social responsibility
16
Which of the following is applicable to foreign trade only?
Răspuns
(E)
Consular invoice
17
The department that deals with internal grievances and maintenance of discipline in an organization is the
Răspuns
(C)
personnel
18
Another name for consignment note is
Răspuns
(B)
waybill
19
Specialization is possible as a result of
Răspuns
(E)
exchange
20
Which of the following may serve as delivery note?
Răspuns
(C)
Invoice
21
Mr Chidi insured his house against fire. The house was destroyed by flood. Which of the following principles prevented him from being compensated?
Răspuns
(D)
Proximate cause
22
The price charged for leasing a ship is known as
Răspuns
(D)
freight
23
Goods in bonded warehouses are under the strict supervision of the
Răspuns
(A)
Customs Authority
24
Which of the following regulates and controls the activities of the Nigerian Stock Exchange?
Răspuns
(B)
The Securities and Exchange Commmission
25
Which of the following is drawn up as a guide to the running of a Partnership?
Răspuns
(A)
Deed of Agreement
26
The law governing the operations of companies and partnership in Nigeria is the
Răspuns
(D)
Companies And Allied Matters Decree
27
Which of the following is a non-indemnity insurance?
Răspuns
(A)
Personal Accident Insurance
28
The document issued to a newly formed public company to commence business is called the
Răspuns
(D)
trading certificate
29
Small scale retail attracts a lot of new enterpreneurs in West Africa because
Răspuns
(D)
only a small amouynt of capital is needed to start the business
30
In marine insurance, the deliberate throwing of some goods into the sea to prevent the ship from sinking is an example of
Răspuns
(C)
a general average loss
31
Tax levied on goods at each stage of their movement from production to the final consumer is known as
Răspuns
(D)
value added tax
32
An association of businessmen engaged in both commerce and industry is called
Răspuns
(C)
chamber of commerce
33
When the government decides to run a statutory corporation as a profit-oriented enterprise, this is known as
Răspuns
(B)
commercialization
34
The primary aim of commerce is to
Răspuns
(E)
exchange goods and services
35
Which of the following is has a fixed rate of dividend?
Răspuns
(D)
Preference share
36
Which of the following is not a barrier to the smooth functioning of ECOWAS?
Răspuns
(C)
Adequate population
37
The capital market is a market
Răspuns
(A)
for long term loans
38
Which of the following is primarily established to promote the growth of industry in Nigeria?
Răspuns
(D)
NIDB
39
Another name for sea taxi is
Răspuns
(A)
tramp
40
Contracts for the carriage of goods by sea are generally called
Răspuns
(D)
time charter
41
A nation's earnings from tourism are classified as
Răspuns
(B)
invisible exports
42
An association of employees in an organization is called a
Răspuns
(A)
trade union
43
A firm that accepts a portion of the risk involved in an insurance contract is
Răspuns
(D)
an underwriter
44
Musa places the bicycle for sale at #800.00 and Dada had agreed to pay the amount. In this transaction, Musa is the
Răspuns
(A)
offerer
45
When goods are sent through an independent carrier, the document used by the sender is
Răspuns
(D)
a consignment note
46
Which of the following may not be considered when choosing an appropriate channel of distribution for a new product?
Răspuns
(E)
Provision of credit facilities to customers
47
Which of the following may be used to restrict imports?
i. Bill of lading ii. Specific Licenses iii.Foreign exchange rationing iv. Letters of credit v.Customs duties and tariffs
Răspuns
(B)
ii, iii and v only
48
Which of the following is not a reason for dishonoring a cheque?
Răspuns
(E)
Special crossing
49
Which of the following is not true of a private limited company?
Răspuns
(B)
its shares are freely transferable
50
A retail co-operative society aims at
Răspuns
(E)
cutting off the profits of middlemen
51
The value of a product expressed in monetary terms is known as
Răspuns
(B)
price
52
Which of the following is not true of franking machines ?
Răspuns
(E)
Postage stamp is used
53
Which of the following is suitable for transporting fish a long distance?
Răspuns
(E)
Refrigerated ship
54
Which of the following is not an element of a contract?
Răspuns
(B)
Probability
55
Which of the following is an advantage of personal selling?
Răspuns
(A)
Immediate feedback
56
A partner who does not play an active role in a business but contributes capital is a
Răspuns
(B)
dormant partner
57
Which of the following is not included in the Memorandum of Association?
Răspuns
(A)
Winding up procedure
58
Which of the following is not a source of capital?
Răspuns
(B)
Credit transfer
59
The contract between ship owners and hires whereby the hires take full control of the ship is called?
Răspuns
(E)
charter party
60
Which of the following does not aim at protecting the customer?
Răspuns
(D)
Partnership Act
61
Which of the following activities makes the consumer its focus in decision making?
Răspuns
(B)
Marketing concept
62
Which of the following is a direct service?
Răspuns
(B)
Teaching
63
Which of the following is a disadvantage of foreign trade?
Răspuns
(A)
Encourages dumping
64
An agreement that is enforceable in law is called?
Răspuns
(A)
a contract
65
A document signed by a customs officer of the exporting country to confirm the country of export of the goods is
Răspuns
(C)
a certificate of origin
66
For which of the following reasons would a seller not issue a credit note to a customer? If
Răspuns
(A)
goods are undercharged
67
A statement of account is a
Răspuns
(E)
summary of a customer's transactions over a given period
68
Management is
Răspuns
(A)
getting things done through other people
69
The sum of money the assurer is prepared to pay the assured in total discharge of a contract before its maturity is
Răspuns
(D)
surrender value
70
Which of the following services is not rendered by NIPOST
Răspuns
(D)
Telephone
71
Which of the following functions may not be performed by a whole saler?
Răspuns
(E)
Manufacturing
72
The commercial term "Caveat emptor" means, Let the
Răspuns
(A)
buyer beware
73
Which of the following is not a business resource?
Răspuns
(A)
Wages
74
In which of the following business units are the owners mostly the customers?
Răspuns
(A)
Co-operatives
75
Which of the following is not a way of raising capital for business?
Răspuns
(E)
Issuing dividend warrants
76
In a business environment, which of the following variables can a business man conveniently control?
Răspuns
(A)
Product
77
Which of the following is not a reason for imposing import duties? To
Răspuns
(B)
improve quality of goods for consumers
78
The face to face contact between sellers and buyers with the aim of selling a product is known as
Răspuns
(A)
personal selling
79
Which of the following is the main tool of mass selling
Răspuns
(E)
Advertising
80
The allowance given to a retailer to enable him make a profit is known as
Răspuns
(C)
trade discount
81
One of the features of a supermarket is
Răspuns
(C)
selling common household goods
82
A group of public limited companies that commonly own a joint venture is known as
Răspuns
(B)
consortium
83
Which of the following clearly defines business?
Răspuns
(E)
Any productive activity undertaken for profit motive
84
Which of the following ensures that the quality of a product is maintained?
Răspuns
(D)
Standards Organisation of Nigeria
85
Which of the following will enable customs officers to correctly assess import duties on goods?
Răspuns
(E)
Bill of laden
86
An insurance policy which benefits one's family only is in the event of one's death is known as
Răspuns
(B)
a whole-life insurance
87
One of the demerits of sole trading is
Răspuns
(C)
unlimited liability
88
A group of people in the same line of business who come together for the interest of its members is called
Răspuns
(B)
trade association
89
A foreign order which instructs an agent to buy certain goods at a particular place called
Răspuns
(D)
closed indent
90
The shares of XYZ Plc are quoted at the stock exchange by a jobber at 85k for k share. How much will Alabi, an investor who buys 500 shares pay?
