A shortcoming of the Second-tier Foreign Exchange Market in Nigeria is that it
- A. serves as a mechanism for evaluating an unrealistic exchange rate for the naira
- B. creates unhealthy competition amongst users of foreign exchange
- C. contributes to destabilizing national resource allocation
- D. contributes to flooding the market with foreign essential commodities
The stock Exchange helps to provide capital for of industrial project because it
- A. determines value of shares, stocks and other securities
- B. assist government in implementing its monetary plicies
- C. assist companies to exchange their securities into cash
- D. renders agency services to organizations and government
The major condition for obtaining loan in thrift, credit and loans cooperative societies is
- A. provision of collateral security
- B. a high level of education
- C. possesssion of a large business
- D. an approved project plan
A form of money that has gone out of use is?
- A. paper money
- B. bank money
- C. commodity money
- D. foreign money
A console is a device used in
- A. moving an indicator on the screen
- B. communicating between operator and programmer
- C. holding magnetic tape reel
- D. forming characters by heating sensitive ribbon
A printer that burns the print image onto the photosensitive drum is called
- A. dot matrix printer
- B. daisy wheel printer
- C. laser printer
- D. thermal printer
The computer using linear integrated circuit technology coupled with quantification of data in terms of length and distance is known as?
- A. digital computer
- B. analogue computer
- C. mainframe computer
- D. hybrid computer
A bank form used to transfer money from personal to creditor’s account is called?
- A. debits transfer form
- B. credit transfer form
- C. customers transfer form
- D. banks transfer form
The Central Bank differs from commercial banks because it?
- A. renders service to customers
- B. carries out foreign exchange transactions
- C. issues currencies
- D. discounts bills
Mr Olatude took up a fire insurance on a property valued at N1000 and the amount insured is N 800. If the insurance was taking with the clause ‘with average ‘, What is the amount to be paid by the insurance company?
- A. N320
- B. N420
- C. N460
- D. N560
The insurance principle that requires full disclosure of information on the insured is known as
- A. indemnity
- B. uberrimae fidei
- C. subrogation
- D. caveat emptor
Tourists with no fixed address in a town may receive their letters from the post office through a
- A. recorded delivery
- B. poste restante
- C. parcel post
- D. postmaster
Ocean liners are subdivided into
- A. passenger liner and cargo liners
- B. coastel liners and cargo liners
- C. cargo liners and tramp liners
- D. passenger liners and tramp liners
An invoice can be described as a
- A. contractual agreement for the sale of goods
- B. document specifying quantity, description, prices and total value of purchase
- C. receipt containing necessary information about the goods
- D. letter specifying the contractual sales of goods between two parties
The function of a merchant wholesaler is to
- A. buy in bulk, store and sell to retailerss as desired
- B. posses title to the goods, store and sale to retailers
- C. bring buyers and sellers together
- D. find markets for producers' finished goods
The current trend in retailing competition in Nigeria are?
- A. advertising and sales promotion strategies
- B. branding, enterprising and diffrentiation of goods and services
- C. self-service, after-sales service and services and branding strategies
- D. after-sales services and sales promotion strategies
The main factors militating against the rapid growth of trade in Nigeria are?
- A. inadequate transportation network and huge capital outlay
- B. lack of motivation and government attitude towards trade
- C. lacks of good transportation network and insecurity of investment
- D. huge capital outlay and government attitude to trade
The share capital value that forms part of the balance sheet total is the
- A. paid-up share capital
- B. called-up share capital
- C. authorized share capital
- D. issued share capital
Determined the circulating capital?
- A. N250,000
- B. N245,000
- C. N235,000
- D. N225,000
Use the information below to answer question
What is the total fixed capital?
- A. N 570,000
- B. N 570,000
- C. N 575,000
- D. N 675,000
Bank overdraft as a short term source of fund is
- A. an overdrawn account
- B. granted to a newly opened account
- C. repayable after more than a year
- D. a current liability