An agreement to sell is distinguishable from sale because in the former, the transfer of goods is
- A. not anticipated
- B. not discussed
- C. deferred
- D. immediate
Which of the following must be present in an agency by agreement?
- A. intentions
- B. will
- C. consent
- D. authority
One advantage of personal selling over all other elements of promotion is that
- A. it can provide instant feedback
- B. it is very cheap in terms of cost per contact
- C. it does not need to use mass media
- D. sales people are wewll trained
Which of the following is a form of sales promotion
- A. advertising on radio
- B. offering free sample
- C. distributing printed materials
- D. advertising on television
Which of the following items has the shortest effect on the consumer
- A. fashion
- B. innovation
- C. fad
- D. attribute
The element of the marketing mix are
- A. product promotion, place and price
- B. [personal selling, advertising and research
- C. promotion, production, place and price
- D. procurement, price, product and place
The second tier security market is
- A. an appendage to the Nigeria stock exchange
- B. a member of the Nigeria stock exchange
- C. meant for the shares of quoted private companies
- D. a regulating arm of the Nigerian stock exchange
The business in the stock exchange is characterized essentially by
- A. dealing
- B. brokerage
- C. speculations
- D. transactions
Which of the following is both direct and indirect credit enterprise?
- A. A co-operative and thrift society
- B. retail co-operative society
- C. consumer co-operative society
- D. wholesaler co-operative society
The financial institution established to boost Nigeria’s trade with the rest of the world is called
- A. Nigerian Deposit Insurance Corporation
- B. Nigerian Economic Reconstruction Fund
- C. Nigerian Industrial Development Bank
- D. Nigerian Export-Import Bank
Drawing two parallel lines across a cheque means that it has to be paid into the account of the
- A. payee
- B. drawer
- C. drawee
- D. payer
One of the effects of the devaluation of the Naira is that the
- A. goods that can be imported with the naira have become cheaper
- B. value of other currencies relative to the naira have become cheaper
- C. goods that can be exported from Nigeria have become costlier
- D. imports that can be bought with the naira have become costlier
A sole proprietor insured his goods worth N200,000 for half the value. There was a fire accident in which goods valued N80,000 were destroyed. The value of compensation expected from the insurer is
- A. N40,000
- B. N80,000
- C. N100,000
- D. N200,000
Goods discharged from ships on which import duties have not been paid are kept in the
- A. ordinary warehouse
- B. public warehouse
- C. private warehouse
- D. bonded warehouse
The postal organization which preceded the Nigerian Postal Service is
- A. Post and Telecommunication
- B. Post and Telephone
- C. Post and Teleprinter
- D. Post and Telegraph
Which of the following statements is TRUE about sea transport?
- A. all ships have specific routes to ply
- B. all ships must be insured at every journey
- C. all ships are insured separately from the crew
- D. all ships normally arrive at their destination with goods
A pro forma invoice is NOT required when
- A. quoting for the supply of goods
- B. goods are sent on approval
- C. dealing regularly with a customer
- D. final prices are uncertain
The difference between the total payments for imports and the receipts from exports within a given period is referred to as
- A. balance of payments
- B. balance of trade
- C. comparative cost advantage
- D. comparative advantage
The rate at which a country’s exports exchange for its imports is called
- A. balance of payments
- B. balance of trade
- C. terms of payment
- D. terms of trade
What is the major function of the wholesaler?
- A. buying from small-scale producers and selling to exporters
- B. buying in bulk and selling in small quantities
- C. granting of credit facilities to retailers
- D. providing information to manufacturers on market situation
The use of coin-operated machines to sell goods is a form of
- A. personal selling
- B. retailing
- C. wholesaling
- D. mail-order selling