An example of a trade association is?
- A. ALGON
- B. NLC
- C. NURTW
- D. NULGE
A source of business financing which involves pledging of a specific assets is?
- A. bond
- B. mortage
- C. debentures
- D. loan
In the event of voluntary liquidation, the appointed of a liquidator is the responsibility of the?
- A. directors
- B. creditors
- C. promoters
- D. court
When two or more companies agree to execute a project too large for one to handle, this is referred to as?
- A. an amalgamation
- B. a cartel
- C. a merger
- D. a consortium
The business organization that can effectively combine management with control is?
- A. private limited liability company
- B. sole proprietorship
- C. public limited liability company
- D. co-operation society
One of the major disadvantages of pipeline transportation is its?
- A. high cost of construction
- B. limitation in scope
- C. vulnerability to climate changes
- D. high maintainance cost
Inbound tourism occurs when?
- A. non-residents of a country travel to other countries
- B. resident of a country travel to another country
- C. non-resident of a country travel within it
- D. resident of a country travel within it
The agreement of insurers to spread risks among themselves is a major feature of?
- A. reinsurance
- B. life insurance
- C. underwriter
- D. marine insurance
Mr. Lawal insured his warehouse against burglary but it was later gutted by fire. this implies that?
- A. the loss should be borne by the insurer
- B. Mr. Lawal is liable only for half of the estimated loss
- C. the insurer should make a consolation payment for the loss
- D. the loss should be borne by Mr. Lawal
The major source of income to commercial banks is?
- A. tourism
- B. banking
- C. communication
- D. transportation
A cheque that has been drawn but not presented for payment can still be honored?
- A. within 6 months
- B. after 9 months
- C. within 9 months
- D. after 6 months
The most effective nut limited medium of advertising in Nigeria is?
- A. billboard
- B. television
- C. newspaper
- D. radio
The purchase of goods under the CWO system of payment implies that?
- A. money must be enclosed when ordering
- B. payment must be made on delivery
- C. payment must be made within few days
- D. cash must be paid on the spot
The price quoted which includes the cost of insurance, freight and all delivery charges to the importer’s warehouse is?
- A. Free Alongside Ship
- B. Franco
- C. Free On Board
- D. Free On Rail
The document which can be exchange for a bill of lading is?
- A. freight note
- B. mate receipt
- C. export invoice
- D. ship report
A document that indicates obligation that is transferable by delivery and endorsement is a?
- A. bill of lading
- B. bill of exchange
- C. documentary evidence
- D. negotiable instrument
The three components of a country’s balance of payments are?
- A. current account, capital account and monetary movement account
- B. capital account, trade account and business record
- C. sales account, profit and loss account and capital account
- D. monetary movement account, trade account and sales ledger
Balance of payment problems arise if a country’s?
- A. exports is more than imports
- B. imports is more than exports
- C. currency devaluation
- D. invisible exports is more than visible exports
The main frame of selling directly to the consumers by manufacturers is to?
- A. reduce transportation cost
- B. make contact with individual consumers
- C. discourage the activities of middlemen
- D. maximize profit margin
One of the functions of a retailer is the?
- A. financing of production activities
- B. provision of credit facilities to relations
- C. provision of jobs for customers
- D. breaking of bulk
An individual that links the producer with the retailer is?
- A. an agent
- B. a wholesaler
- C. an entrepreneur
- D. a principal