Given:
Sales………………………N15 000
Opening stock……………….N5 600
Purchases…………………..N9 700
Closing stock……………….N4 400
Gross profit………………..N4 500
Net profit………………….N2 200
From the data above, calculate the rate of turnover?
- A. 3:50 times
- B. 3:00 times
- C. 2:00 times
- D. 2:18 times
One advantage of a crossed cheque is that it can?
- A. only be paud into a savings account
- B. be cashed over the bank's counter
- C. only be paid into the owner's account
- D. be cashed by anyone
A good financial instrument which serves as a hedge against inflation is?
- A. a bond
- B. a share
- C. an opion
- D. a warrant
To increase the supply of money in a country, the central bank has to?
- A. reduce cash ratio
- B. sell securities
- C. call on special deposits
- D. raise cash ratio
The fixed and current assets of a business are called?
- A. called up capital
- B. capital employed
- C. paid-up capital
- D. authorized capital
The major participants in the stock market when stock prices are rising generally are the?
- A. bulls
- B. registrars
- C. bears
- D. companies
The excess of the assets over the liabilities of a business is called?
- A. working capital
- B. net worth
- C. capital employed
- D. initial capital
From which of the following sources can partnerships increase their capital?
- A. Admission of a new partner
- B. Sale of shares
- C. Discharge of a mortage
- D. initial capital
Initial public offering is undertaken through the?
- A. secondary securities market
- B. first-tier securities market
- C. primary securities
- D. second-tier securities market
The market where only indigenous firms are considered is the?
- A. money market
- B. second-tier securities market
- C. local market
- D. stock exchange
The bank that discount bills of exchange is the?
- A. central bank
- B. mortage bank
- C. development bank
- D. comercial bank
Invisible imports consist of?
- A. cement, shipping and consultancy services
- B. banking, drinks , insurance and technical services
- C. consultant services, tourism and banking
- D. tourism, banking and canned food and cement
In Nigeria, the ministry in charge of registering trade associations is that of?
- A. industries
- B. commerce
- C. culture and tourism
- D. finance
Wholesalers can be divided into?
- A. sales agent and brokers
- B. full service
- C. cooperative wholesale society and limited service wholesalers
- D. merchant wholesales and egent middlemen
The association that comprises all types of businesses is referred to as?
- A. chamber of commerce
- B. trust
- C. trade association
- D. cartel
Which of the following confirms the accuracy of the duty charged on imported goods?
- A. An indent
- B. Consular invoice
- C. Consignment note
- D. Shipping note
Which of the middlemen in the channel of distribution has tittle to the goods he distributes?
- A. The merchant wholesaler
- B. The agent
- C. The limited wholersaler
- D. The retailer
A major function of a chamber of commerce is?
- A. increaseing productivity
- B. promoting both home and foreign trade
- C. promoting trade in a particular line
- D. maximizing profit
A type of credit offered by both commercial and merchant banks in Nigeria is?
- A. trade credit
- B. line of credit
- C. discounting facility
- D. overdraft
A cheque drawn by a bank official on the bank’s deposits in another bank on a customer’s instruction is known as?
- A. promissary note
- B. bankdraft
- C. banker's order
- D. travellers' cheque
The necessary documents used in foreign trade are?
- A. bill of lading, invoice and letter of inqiry
- B. indent, bill of exchange, bill of lading and voice
- C. voice, shipping note, bill of lading and freight note
- D. shipping note, certificate of origin and visible exports