Aliyu bought 100 shares at the stock market through a stockbroker. He was told the price each share was N3 cum. div. This means that Aliyu
- A. is entitled always to a cumulative dividends accruing from the shares
- B. is entitled to the next dividends due to the shares
- C. will not be entitled to the next dividends due to the shares
- D. still owes N3 on the shares which will be subtracted from the dividends
The elimination of fault in a computer programme is called?
- A. console
- B. debug
- C. dump
- D. loop
(i)Foreign investment (ii) Long-term lending (iii) Short-term lending (iv)Foreign exchange (v) Short-term borrowing. Which combination of the above include capital account in international trade?
- A. i, iii, and iv
- B. ii, iii and iv
- C. ii and v
- D. i and ii
The three major function unit which the modern computer has are
- A. the input the processor and the output units
- B. the black box, output and input units
- C. BASIC, COBOL and output uits
- D. BASIC, the processor and PASCAL
Tolu purchase goods from Yemisi and is to pay custom duties before collection. The goods are likely to be collected from.
- A. a manufacturer's warehouse
- B. a bonded warehouse
- C. an importer's warehouse
- D. a wholesaler's warehouse
The principle of subrogation states that
- A. an insured person should be indemnifed to the tune of the amount insured
- B. an insurance company can stand in place of the insured in dealing with third party
- C. oly a person who is likely to sufferrd loss should take take out an insurance cover
- D. ther must be a close connection between the actual loss suffered and risk insured
The rate at which a central bank discount first class bills is called the
- A. fixed rate
- B. bill rate
- C. bank rate
- D. interest rate
A distinction between Comprehensive insurance and Thrid party Insurance is that the latter covers damages
- A. caused by the insured vehicle
- B. to the insured vehicle
- C. cause by the other vehicle
- D. to the driver of insured vehicle
The overriding advantage of home trade over foreign trade is
- A. accessibility of seller to buyer
- B. absence of many documents
- C. ease in language of transaction
- D. ease in form of payment
Which of the following document permit an importer to inspect his goods before the arrival of the bill of lading?
- A. Bill of sight
- B. Import invoice
- C. Consular invoice
- D. Bill of exchange
The document that indicate instant payment of cash for goods whenever the are delivered is
- A. credit note
- B. proforma invoice
- C. debit note
- D. statement of account
The main document sent to an importer of goods by the exporter are?
- A. invoice, consular invoice, certificate of orign, fright note, indent and insurance policy
- B. indent, bill of lading, certificate of orign, invoice and bill of exchange
- C. certificate of orign, bill of exchange, insurance policy, indent and bill of lading
- D. bill of lading, invoice insurance policy, consular invoice, certificate of orign and bill of exchange
Kamaldeen is a seller in a hire-purchase agreement with Emeka. By law, Kamaldeen cannot recover the hire purchased goods. This is an instance of a restriction on
- A. Emeka's right to terminate the agreement
- B. Kamaldeen's right to re-hire the Goods
- C. Emeka's right to breach the agreement
- D. Kamaldeen's right to terminate the agreement
A company which issues a promissory note in lieu of payment for goods purchased
- A. can refuse to pay ondue date since it is only a promise
- B. is bound to redeem the note for cash on due date
- C. is not bound to renew the note before payment
- D. can return the goods purchase and refuse to pay
Kabir receives two quotations. Ade quotes N 100 less 20% trade discount and 20% cash discount while Benson N100 less 30%trade discount and 10% cash discount. If Kabir wants to take advantage and cash discount, then
- A. the material should be supplied by Ade
- B. the material should be supplied by both of them
- C. the material should be supplied by Benson
- D. Benson should be ask to reduce his trade discount
The term ‘5 Net 7’ on an invoice means that?
- A. 5% discount will be allowed on the price charged if payment is made within seven days
- B. 5% discount will be allowed on the price charged if payment is made after seven days
- C. 5% surcharge will be made unless payment is made within seven days
- D. 5% dicount will be allowed on the charged if the goods are bought within seven days
The document represents a
- A. Bill of exchange
- B. Cheque
- C. Money order
- D. A. Promissory note
Use the document below to answer question
Okon Etim Esin is the?
- A. debtor
- B. creditor
- C. exporter
- D. importer
Which of the following is not a veritable source of funds to a public limited company?
- A. government financial grant
- B. advances and loan from banks
- C. internally generated funds
- D. funds from the sale of shares
A business whose owners enjoys loan facilities on the basis of personal goodwill is a?
- A. commercial bank
- B. thrift society
- C. co-operative society
- D. community bank
An abridged version of a company’s income statement for 11993 contains the following information:
N
Turnover 286.5
cost of goods sold 147.5
overhead and other expenses 85.5
Taxes due for the year 26.9
What was the company’s profit before tax for 1993?
- A. 26.9 million
- B. 53.5 million
- C. 139.2 million
- D. 286.5 million