A distinguishing characteristic of labour is that it is
Одговорити
(C)
mobile
3
Land as a factor of production does not vary in?
Одговорити
(A)
quantity
4
Which of the following services does a lawyer render?
Одговорити
(C)
direct services
5
The partner that only contributes part of the capital used in the formation and running of a business is known as?
Одговорити
(C)
a dormant partner
6
One major advantage of a credit and thrift cooperative is that
Одговорити
(B)
It encourages saving habit
7
A form of ownership which exploits the strength of one partner to remedy the weakness of the other is a?
Одговорити
(A)
joint partnership
8
At the collapse of a business enterprise, the person appointed to dispose of all assets is called
Одговорити
(C)
a liquidator
9
Entrusting the management of a company to the courts to enable the settlement of the company’s obligations is an indication of?
Одговорити
(C)
bankruptcy
10
The capital employed is
Одговорити
(A)
N 1,000
11
The financial instrument for borrowing in which the collateral is usually more than the amount borrowed is?
Одговорити
(C)
mortage bond
12
(i) Personal Savings
(ii)Retained Earnings
(iii)Accrued taxes
Which of the items above constitute internal sources of financing for companies?
Одговорити
(A)
i and ii
13
The difference between total current assets and total current liabilities of a business is known as
Одговорити
(C)
working capital
14
The capital owned is
Одговорити
(D)
N570
15
One of the reasons why wholesaling must continue is that?
Одговорити
(D)
the gap between manufacturers and retailers is reduce byn wholesalers
16
The merchant wholesaler is referred to as
Одговорити
(C)
rack jobber
17
A pro-forma invoice is sent to inform a buyer about the
Одговорити
(B)
prices of goods
18
The balance of payments of countries is
Одговорити
(B)
a systematic record of transaction among countries at a given time
19
The major procedures in the purchase and sale of goods are enquiry
Одговорити
(A)
quotation, order and invoice
20
The trade discount receivable by Mr Bacus is
Одговорити
(B)
N7,500
21
If Mr. Bacus fulfills his promise, he will be entitled to a cash discount of?
Одговорити
(B)
N3,000
22
Bank Giro is a method of settling debt from a
Одговорити
(C)
customer to another
23
Warehousing is a productive function because it increase the
Одговорити
(B)
utility of goods
24
A factor necessary for siting a warehouse is nearness to
Одговорити
(D)
consumers
25
Pooling of risk in insurance means that?
Одговорити
(A)
compensations are paid out of a common fund
26
The major difference between insurance and assurance is that while insurance
Одговорити
(C)
hinges on probabilities, assurance is based on possibilities
27
A documentary bill will normally be accompanied by
Одговорити
(D)
consular invoice, FOB certificate and bill of lading
28
Which of the following best describes the classification of computer?
Одговорити
(C)
Mini-computer, Micro-computer and work station
29
The temporary working area of the central processing unit is called the?
Одговорити
(D)
RAM
30
The significance of money to modern economic system is that it?
Одговорити
(C)
measures value and promotes exchange
31
One major characteristic of credit unions and thrift societies is that?
Одговорити
(C)
the contribution of every member depends on the member's ability
32
The Nigerian Stock Exchange publishes a daily official list that gives full information on the?
Одговорити
(C)
changes in the prices and earnings of securities
33
The main factors that determine the value of a stock on the stock Exchange are dividend and
Одговорити
(C)
capital appreciation
34
One of the main objectives of the Second-tier Securities Market in Nigeria is to
Одговорити
(D)
attract investment flow
35
The activities aimed at finding out customers' needs and satisfaction can be described as?
Одговорити
(D)
conceptual marketing
36
The most effective type of advertising for branded product is?
Одговорити
(D)
competitive advertising
37
Which of these companies are more engaged in public activities?
Одговорити
(A)
i and ii
38
Which of these companies offers after-sales services?
Одговорити
(C)
ii
39
Use the information below to answer question 40 and 41.
Musa rented a room to adamu for N1,500 and N1,000 part-payment was made. Adamu brought Audu and Jacob his friends to stay in the room.
The two friends later paid balance of N500 to Musa.
Who are the parties to the contract of renting the room?
Одговорити
(C)
Adamu and Musa
40
Who is the offeree in this contract ?
Одговорити
(C)
Adamu
41
Who is the offeree in this contract ?
Одговорити
(C)
Adamu
42
The maximum number of shareholders in a public liability company is?
Одговорити
(D)
unlimited
43
One way government reduces the repatriation of capital is through
Одговорити
(C)
indidenization
44
One of the major function of a chamber of commerce is to
Одговорити
(A)
promotes and protect trade, industry and agriculture
