The cost that raises from failure to load or unload a ship at the port within a stipulated period is known as
- A. excess charges
- B. demurrage charges
- C. permium charges
- D. trade charges
The basic distinction between cash discount and trade discount is that while trade discount is
- A. for a period of 30 days, cash discount is for a period of 3 months
- B. given by a wholesaler, cash discount is given by a bank
- C. a reduction in the catalogue pirce f an article, cash dis count is a reduction in the invoice value
- D. a reduction in the value of sales, cash discount is a reduction in price of goods
A close indent is an instrument to an agent to
- A. order goods from a particular manufacturer
- B. order goods from any manufacturer
- C. sell gods to any firm
- D. sell goods to a certain firm
Stevedores as a term in foreign trade means men who
- A. inspect goods in ships
- B. import goods by ships
- C. collect duties in ships
- D. load and unload ships
Excise duties are paid on goods that are
- A. imported into the country
- B. manufactured within the company
- C. exported to other clonutries
- D. kept in bond warehouses
In foreign trade, document of title is known as
- A. bill of lading
- B. bill at sight
- C. certifiate of origin
- D. declaration form
The main aim of selling directly to consumers by manufactures is to
- A. dis courage the activities of middlemen
- B. make contacts with comsumers
- C. eliminate transportation cost
- D. maximize the profit margin
The cost of transporting goods to consumers called
- A. carried inward
- B. carried forward
- C. carried paid
- D. carried outward
The turnover of firm maybe affected by
- A. the demand for its product
- B. the cost of its goods sold
- C. its closing stock
- D. its net assets
A public limited liability company having a nominal capital made up of 200 000 ordinary shares of 50k each decided to issued 50% of it to the public.
What is the authorized capital?
- A. N40 000
- B. N50 000
- C. 100 000
- D. 200 000
The total amount that a company is allowed to raised according to its memorandum of association is known as
- A. issued capital
- B. authorized capital
- C. called-up capital
- D. paid-up capital
The form of business financing which involves pledging of a specific asset is
- A. debenture
- B. mortgage
- C. loan
- D. bond
Leasing is the right to use asset for an agreed period in return for
- A. profit
- B. interest
- C. wages
- D. rents
A term which indicates that share is temporarily suspended is
- A. ex-dividend
- B. cum-dividend
- C. bond
- D. stock
One type of investment that have a variable income is
- A. debentures
- B. preferred shares
- C. government bonds
- D. ordinary shares
In which of the following circumstances is a court order NOT necessary for the winding up of a company?
- A. supension of businesss for one year
- B. special resolution of members
- C. reduction in the number of members below the legal minimum
- D. inability to pay it debts
When it became necessary to liquidate a company, the frist step to be taken is the appointment of
- A. a receiver
- B. an auditor
- C. an accountant
- D. liquidator
The major objective of corporate mergers is to
- A. minimize the effects of taxation
- B. increase financial advantage
- C. faclitate profit maximization
- D. enhance economies of scale
The business organization in which shareholder’s have equal vote is
- A. sole pprietorship
- B. partneeship
- C. co-operative
- D. limited liability company
Use the conversation below to answer the question below;
MUSA: Taiwo why are you in business?
TAIWO: To optimize profit, provide quality products, and discharge my social responsibilities. What of you, Okon and Kalu
OKON: I am in business to cater to the needs of the consumers at all costs.
KALU: I am in business to make a profit, provided quality products at reasonable prices, and establish a good reputation for myself.
The businessman that may end up not discharging his social responsibility is——————–
- A. Musa
- B. Okon
- C. Taiwo
- D. Kalu
Partnership are most suitable where
- A. the partners are family friends
- B. professionals are involved
- C. members can easily rasie enough capital
- D. government regulations are favourable