The direct authority of a superior over his subordinate is known as
- A. staff authority
- B. line authority
- C. line and staff authority
- D. office authority
Motivation is an essential element in management because it
- A. leads to the improvement of staff welfare
- B. encourage individual to work towards achieving the orgaization's objective
- C. reduce friction among employees in the process of achieving the company's objective
- D. helps to eliminate industrial disharmony
The practice of assessing employees for payment or advancement according to their observed achievement is called
- A. employee ranking
- B. merit rating
- C. job grading
- D. employee education
Which of the following organizations represents those who engages labour in Nigeria?
- A. Nigerian Labour Congress
- B. Nigerian Employers Consultative Association
- C. Manufacturers Association of Nigeria
- D. Nigerian Union of Local Government Employees
The federal Government made efforts at rendering public enterprises more efficient and profit-oriented through the process of
- A. privatization
- B. commercialization
- C. indigenization
- D. nationalization
When an industry or company is nationalized, the state becomes
- A. the major shareholder
- B. the mini shareholder
- C. the only shareholder
- D. an equal shareholder with other individuals
Consumer sovereignty means that they consumer is
- A. a citizen
- B. always independent
- C. always wrong
- D. always right
chinyere agree to make a dress for Halima with September 20, 1995 as the delivery date. If the dress was not ready on that date, Halima could
- A. sue Chinyere for damages
- B. sue Chinyere for specific performance
- C. seize another gown from Chinyere's shop
- D. regard the contract between them as terminated
A disadvantage of personal selling is that it
- A. increase a company's operating cost
- B. decreases acompany's operating cost
- C. increase a company's number of customers
- D. reduces a company's area of patronage
Which of the following are forms of sales promotion?
- A. advertising, personal selling and publicity
- B. advertising, market skimming and publicity
- C. personal selling, packaging and publicity
- D. advertising, packaging and publicity
A manufacturer can make his product distinguishable from those of other competitors by
- A. providing catalogues for his wholesalers
- B. aggressive sale ppromotion
- C. branding and packaging the product
- D. selling the product at a much lower price
Taking a new product to a particular part of a country to test the reaction of consumers to the product referred to as
- A. sales promotion
- B. sampling
- C. merchandizing
- D. advertising
The breaking down of a market into separate and identifiable elements each with its own special product requirement is known as market
- A. differentiation
- B. segmentation
- C. penetration
- D. identification
The marketing approach by which a firm carries out detailed analysis of itself, the consumers and its competitors is known as?
- A. market analysis
- B. marketing mix analysis
- C. marketing opportunities analysis
- D. market survey
Which of the following is NOT a function of the stock exchange market?
- A. providing long term loans to large scale enterprises
- B. encouraging people to buy shares and thereby providing capital for investment
- C. providing means of assessing the value of a firm's assets
- D. enabling firms to wind-up quickly in times of difficulties
A bank statement is a document
- A. ordering a bank to pay on demand a stated sum of money
- B. containing records of receipts, payments and balance on an account
- C. used for paying into bank account
- D. used for regular withdrawal of money from a savings account
A major liability of a commercial bank arises from
- A. customers' deposits
- B. loans and advances
- C. overdrafts
- D. staff allowance
which of the following sets of items was used for exchange in Nigeria before money was introduced?
- A. cowries, iron rods, brass rods and copper rods
- B. iron rods, copper rods, manilla and cowries
- C. cowries, manilla, brass rod andcopper wires
- D. copper wires, brass wires, cowries and iron rod
Berne union is also known as
- A. International Credit Union
- B. International Documentry Credit
- C. International Union of Credit and Investment Insurers
- D. export Credit Guarantee Scheme
The insurance policy which provides full cover against all risks at sea is known as
- A. Policy with Particular Average
- B. Policy Free of Particular Average
- C. Marine Freight Insurance
- D. Marine Voyage Policy Insurance
The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called
- A. subrogation
- B. contribution
- C. re-insurance
- D. indemnity