The goods that are used for the production of other goods are known as
Răspuns
(C)
capital goods
3
Which of the following brings about specialization?
Răspuns
(B)
Division of labour
4
Which of the following refers to all the resources used in creating utilities?
Răspuns
(B)
Factors of production
5
Which of the following enables people to consume a variety of goods and services?
Răspuns
(D)
Exchange
6
A business unit in which profits are shared on the basis of members' patronage is known as
Răspuns
(C)
Co-operative society
7
A public limited company wishing to obtain more capital may have to
Răspuns
(D)
issue debentures
8
The safe keeping of goods from the point of production to the time they are needed is`
Răspuns
(B)
warehousing
9
The document which regulates the operations of a partnership is known as
Răspuns
(A)
Deed
10
A company is said to be insolvent when
Răspuns
(B)
its total liabilities exceed total assets
11
Which of the following is formed in order to enforce the rights and powers of buyers in relation to sellers?
Răspuns
(C)
Consumer Association
12
A public Limited Company whose nominal capital is made up of 400,000 ordinary shares of 50k each, decided to issue 50% of it to the public and realized only 50% of the amount due
What is the company's registered capital?
Răspuns
(C)
#200,000.00
13
A public Limited Company whose nominal capital is made up of 400,000 ordinary shares of 50k each, decided to issue 50% of it to the public and realized only 50% of the amount due
What is the paid up capital?
Răspuns
(A)
#50,000.00
14
A public Limited Company whose nominal capital is made up of 400,000 ordinary shares of 50k each, decided to issue 50% of it to the public and realized only 50% of the amount due
What is the called-up capital
Răspuns
(B)
#100,000.00
15
Which of the following documents is used to advertise shares to the public?
Răspuns
(D)
Prospectus
16
A major advantage of the private company over a partnership is that the private company
Răspuns
(B)
has limited liability
17
Which of the following is a contract of carriage and a document of title?
Răspuns
(B)
Bill of lading
18
Which of the following is not a feature of a Department Store?
Răspuns
(B)
Deals in one line of goods
19
A major cost component of running a mail order firm is the
Răspuns
(A)
printing of catalogues
20
A bill of exchange becomes negotiable when it is
Răspuns
(A)
accepted
21
What is the purpose of a debit note? To
Răspuns
(A)
reduce the credit in the buyer's account
22
Status enquiry is necessary when
Răspuns
(C)
granting credit to a new customer
23
Trade discount is given to the buyer for
Răspuns
(D)
retailer's mark-up
24
Government can borrow money from the public through
Răspuns
(A)
the issuing of treasury bills
25
Insurance is necessary because of the need to
Răspuns
(B)
meet uncertainties in future
26
Notes and coins are legal tender because they are
Răspuns
(B)
backed by law
27
If a company is described as "listed" it means
Răspuns
(A)
its shares can be traded on the stock exchange
28
The counterfoil of a cheque book enables the drawer to
Răspuns
(B)
reconcile his book of accounts
29
Which of the following qualities of money is generally undermined by inflation?
Răspuns
(A)
Stability
30
One advantage of communication by telephone is
Răspuns
(C)
feedback is instantenous
31
Which of the following is the fastest means of sending a document from one place to another?
Răspuns
(B)
Courier service
32
Which of the following is a disadvantage of canal transport? it is
Răspuns
(A)
narrow and cannot support big vessels
33
A manufacturer of machinery who wants to reduce cost of promotion can use
Răspuns
(D)
catalogues
34
Direct selling by a producer to a consumer is possible when the
Răspuns
(A)
goods have to be made on demand
35
The task of grouping consumers according to their buying habits is known as market
Răspuns
(D)
segmentation
36
Which of the following is not an economic grouping?
Răspuns
(C)
ECOMOG
37
Business losses in nationalized industries are borne by the
Răspuns
(D)
Public
38
Which of the following can be sold through a vending machine?
Răspuns
(A)
cigarettes
39
Which of the following is the most suitable channel of distribution for technical goods?
Răspuns
(D)
manufacturer-consumer
40
Which of the following implies that the price quoted includes the cost of insurance and carriage?
Răspuns
(D)
C.I.F
41
Bonded warehouses are controlled by
Răspuns
(C)
Customs and Excise Authority
42
A hire purchase transaction becomes a sale when when the
Răspuns
(D)
hirer pays full cost of the goods
43
Which of the following serves as a receipt for goods kept in a bonded warehouse?
Răspuns
(A)
Dock Warrant
44
Which of the following have lien on goods in their possession until their commission is paid?
Răspuns
(B)
Factors
45
A picture which indicates that success in life can only be achieved through the use of the product is an example of
