One of the requirements necessary for setting up a business is?
- A. registration
- B. advertisement
- C. knowledge of the business
- D. documentation
The evolution of commerce in Nigeria is traceable to the?
- A. period of barter economy as human needs became limitless
- B. desire by human beings to satify their needs through the services of other people inthe society
- C. development of human civlizations and the desire to meet their needs
- D. primitive stage of existence of human beings
The location of a business is mostly influenced by?
- A. market outlet
- B. management decision
- C. capital
- D. environment
Which oft these factors of production is relatively fixed in supply?
- A. Capital
- B. Enterpreneuer
- C. Human resources
- D. Natural resources
The business organization established mainly for the purpose of carrying out specific assignments for a specific duration is a?
- A. joint venture
- B. cooperative society
- C. partnership
- D. company
In the event of the liquidation of a company, the first to be settled are?
- A. debenture holders
- B. members of the board
- C. preference shareholders
- D. ordinary shareholders
Entrepreneurship mainly involves?
- A. risk-taking
- B. initiating
- C. skilled manpower
- D. knowledge
A functional structure is an organizational structure in which?
- A. abstract rules are applied
- B. equity prevails
- C. a specialist enforces his directives
- D. there is no hierarchy
Stimulation of demand is a kind of communication in marketing which connotes?
- A. personal selling
- B. sales promotion
- C. advertising
- D. merchandising
Communication process involves the transmission of a message over a selected channel to the?
- A. receiver
- B. audience
- C. sender
- D. encoder
The process of dividing task into jobs and departments and of delegating authority is known as?
- A. staffing
- B. leading
- C. directing
- D. organizing
One of the functions of seaports is the provision of?
- A. berthing and landing facilities
- B. loading and off-loading facilities
- C. control room for relaying radio messages
- D. warehouses for storage of cargo
The management function that makes the difference in intensity of behavior is?
- A. coordinating
- B. controlling
- C. motivation
- D. planning
The type of marine insurance which covers either damage or loss to the vessel and such as caused by it to other vessel is?
- A. hull insurance
- B. time insurance
- C. freight insurance
- D. cargo insurance
The focal point of marketing is?
- A. the competitior
- B. the buyer
- C. profit-making
- D. sales
An example of service rendered by NIPOST is?
- A. electronic mail
- B. couier
- C. telephone
- D. mail delivery
The payment made periodically in respect of an insurance policy entered into is known as?
- A. bond
- B. commission
- C. premium
- D. surrender value
A firm that adapts itself to delivering the desired satisfaction more effectively than its competitors is said to be practicing?
- A. price concept
- B. distribution concept
- C. product concept
- D. markting concept
A guarantee given by one person or party to another in which the integrity of the person is assured is?
- A. fidelity
- B. term assurance
- C. subrogation
- D. indemnity
The concept that refers to the sale, transfer or exchange of goods and service is?
- A. industry
- B. trade
- C. tariff
- D. marketing
The basic functin of the Nigeria Ports Authority is to?
- A. ensure that the right calibre of personnel is employed at the ports
- B. coordinate and regulate the activities of shipping lines
- C. facilitate and control the movement of goods and services into and out of the country
- D. coordinate the activities of all the seaports in the country