Which of the following was not used as a medium of exchange by the early Europeans that came to West Africa?
Відповідь
(C)
Iron bars
2
The ancillary to trade which ensures that people gain access to facts pertaining to goods is
Відповідь
(B)
advertising
3
Which of the following is classified as an extractive industry ?
Відповідь
(A)
Digging for minerals
4
Who among the following does not render direct service?
Відповідь
(D)
Retailers
5
A partnership cannot raise its capital by
Відповідь
(A)
selling shares to the public
6
Which of the following is not required in the mail order business?
Відповідь
(C)
Display room
7
The staff responsible for the calculations of probability of losses in insurance is the
Відповідь
(A)
Actuary
8
The rate at which the country's import exchanges for its export is known as
Відповідь
(A)
Terms of trade
9
Where a limited partner exists in a partnership
Відповідь
(C)
at least one ordinary partner must be there
10
Which of the following is best organized as a partnership?
Відповідь
(C)
Designing and building of houses
11
Public enterprises are financed mainly by
Відповідь
(C)
government grants
12
Contributing money to buy equipment for making and marketing a product is a feature of
Відповідь
(D)
producers' cooperatives
13
The operations of a private company is guided by the
Відповідь
(C)
certificate of incorporation
14
The various rights attached to different classes of shares are stated in the
Відповідь
(A)
articles of association
15
Which of the following gets extra dividend after its due fixed rate of dividend
Відповідь
(D)
Participating preference shares
16
A company may be wound up when
Відповідь
(A)
there is a disagreement among the directors
17
If the opening stock is Le200, cost of goods sold Le2,400, and closing stock Le120, then the rate of turnover is
Відповідь
(B)
15 times
18
The money used by Njie & Co. Ltd in running the day-to-day activities of the business is represented by
Відповідь
(D)
current assets less current liabilities
19
A limited company has an authorized capital of 20,000,000 shares. If each share capital costs 5ok and the company sold 12,000,000 shares, its issued capital is
Відповідь
(C)
#6,000,000
20
A document used to advertise shares for sale is
Відповідь
(A)
prospectus
21
Which of the following refers to a voluntary association that represents a cross-section of business interests in an area?
Відповідь
(B)
Chamber of Commerce
22
Which of the following is used to show that goods imported were produced in an ECOWAS member country
Відповідь
(C)
Certificate of origin
23
Importing goods into a country re-exporting is know as
Відповідь
(C)
entrepot trade
24
Which of the following is a function of the small retailer?
Відповідь
(D)
Selling to consumers
25
The content of a bill of lading does not include the
Відповідь
(D)
demurrage payable
26
Who is responsible for the payment of the bill in a documentary credit
Відповідь
(B)
Importer
27
A popular product priced low to attract a larger number of buyers to a shop is called
Відповідь
(A)
loss leader
28
Centralized buying and decentralized selling are features of
Відповідь
(D)
multiple stores
29
Which of the following is not a feature of a self-service store?
Відповідь
(B)
it offers steady employment opportunities
30
If a share is sold at a price below its face value, it is sold
Відповідь
(B)
at a discount
31
Mr Ojo buys a book from a bookseller and pays cash. The bookseller will issue him a
Відповідь
(D)
receipt
32
A limited company can raise long term capital through the
Відповідь
(B)
stock exchange market
33
Which of the following is not a reason for dishonoring a cheque?
Відповідь
(D)
Poor handwriting
34
Which of the following is not a function of the Central Bank
Відповідь
(D)
Granting loans to the public
35
Treasury bills are bought and sold in the
Відповідь
(D)
Money market
36
Which of the following is legal tender
Відповідь
(A)
Bank notes
37
Which of the following is referred to as the oldest form of insurance?
Відповідь
(A)
Marine insurance
38
An open cheque is one
Відповідь
(C)
which can be cashed over the counter
39
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope's shop got burnt yesterday by fire from the cooking pot.
Which of the following insurance principles was breached by Madam Tope?
Відповідь
(C)
Utmost good faith
40
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope's shop got burnt yesterday by fire from the cooking pot.
Which of the following insurance principles will prevent her from claiming compensation?
Відповідь
(C)
Proximate cause
41
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope's shop got burnt yesterday by fire from the cooking pot.
The amount D60,000 quoted represents
Відповідь
(A)
Premium
42
If the charterer delayed the ship beyond the lay days, he is asked to pay
Відповідь
(B)
demurrage
43
Which of the following involves the delivery of mails to a traveler without a fixed address
Відповідь
(D)
Post restante
44
A document showing full details of the goods and passengers carried in a ship or aircraft is
Відповідь
(C)
Manifest
45
Which of the following is not a means of water transport
