A distinguishing characteristic of labour is that it is
Відповідь
(C)
mobile
3
Land as a factor of production does not vary in?
Відповідь
(A)
quantity
4
Which of the following services does a lawyer render?
Відповідь
(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?
Відповідь
(C)
a dormant partner
6
One major advantage of a credit and thrift cooperative is that
Відповідь
(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?
Відповідь
(A)
joint partnership
8
At the collapse of a business enterprise, the person appointed to dispose of all assets is called
Відповідь
(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?
Відповідь
(C)
bankruptcy
10
The capital employed is
Відповідь
(A)
N 1,000
11
The financial instrument for borrowing in which the collateral is usually more than the amount borrowed is?
Відповідь
(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?
Відповідь
(A)
i and ii
13
The difference between total current assets and total current liabilities of a business is known as
Відповідь
(C)
working capital
14
The capital owned is
Відповідь
(D)
N570
15
One of the reasons why wholesaling must continue is that?
Відповідь
(D)
the gap between manufacturers and retailers is reduce byn wholesalers
16
The merchant wholesaler is referred to as
Відповідь
(C)
rack jobber
17
A pro-forma invoice is sent to inform a buyer about the
Відповідь
(B)
prices of goods
18
The balance of payments of countries is
Відповідь
(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
Відповідь
(A)
quotation, order and invoice
20
The trade discount receivable by Mr Bacus is
Відповідь
(B)
N7,500
21
If Mr. Bacus fulfills his promise, he will be entitled to a cash discount of?
Відповідь
(B)
N3,000
22
Bank Giro is a method of settling debt from a
Відповідь
(C)
customer to another
23
Warehousing is a productive function because it increase the
Відповідь
(B)
utility of goods
24
A factor necessary for siting a warehouse is nearness to
Відповідь
(D)
consumers
25
Pooling of risk in insurance means that?
Відповідь
(A)
compensations are paid out of a common fund
26
The major difference between insurance and assurance is that while insurance
Відповідь
(C)
hinges on probabilities, assurance is based on possibilities
27
A documentary bill will normally be accompanied by
Відповідь
(D)
consular invoice, FOB certificate and bill of lading
28
Which of the following best describes the classification of computer?
Відповідь
(C)
Mini-computer, Micro-computer and work station
29
The temporary working area of the central processing unit is called the?
Відповідь
(D)
RAM
30
The significance of money to modern economic system is that it?
Відповідь
(C)
measures value and promotes exchange
31
One major characteristic of credit unions and thrift societies is that?
Відповідь
(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?
Відповідь
(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
Відповідь
(C)
capital appreciation
34
One of the main objectives of the Second-tier Securities Market in Nigeria is to
Відповідь
(D)
attract investment flow
35
The activities aimed at finding out customers' needs and satisfaction can be described as?
Відповідь
(D)
conceptual marketing
36
The most effective type of advertising for branded product is?
Відповідь
(D)
competitive advertising
37
Which of these companies are more engaged in public activities?
Відповідь
(A)
i and ii
38
Which of these companies offers after-sales services?
Відповідь
(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?
Відповідь
(C)
Adamu and Musa
40
Who is the offeree in this contract ?
Відповідь
(C)
Adamu
41
Who is the offeree in this contract ?
Відповідь
(C)
Adamu
42
The maximum number of shareholders in a public liability company is?
Відповідь
(D)
unlimited
43
One way government reduces the repatriation of capital is through
Відповідь
(C)
indidenization
44
One of the major function of a chamber of commerce is to
Відповідь
(A)
promotes and protect trade, industry and agriculture
