Chinyere agreed to make a dress for Halima with September 20, 1995 as the delivery date. If the dress was not ready at that date, Halima could
- A. Seize another gown from Chinyere’s shop
- B. Regard the contract between them as terminated
- C. Sue Chinyere for specific performance
- D. Sue Chinyere for damages
The above chart represents the
- A. Marketing mix relationship
- B. Product mix relationship
- C. Advertising mix relationship
- D. Promotion mix relationship
The maximum number of shareholders in a public liability company is
- A. One hundred
- B. Unlimited
- C. Fifty
- D. Twenty
A company which issues a promissory note in lieu of payment for goods purchased
- A. Is not bound to renew the note before payment
- B. Can return the goods purchased and refuse to pay
- C. Can refuse to pay on due date since it is only a promise
- D. Is bound to redeem the note for cash on due date
Which is the fastest means of transportation?
- A. Water
- B. air
- C. rail
- D. Road
Why is clear bill of lading called so?
- A. It shows records of damaged goods
- B. It shows no records of damaged goods
- C. It is a clear bill
- D. It signifies no debt is owed
In Nigeria, the ministry in charge of registering trade association is that of
- A. Culture and tourism
- B. Finance
- C. Industries
- D. Commerce
Which of the following has power to order withdrawal of a particular food item from circulation?
- A. Food and Drug Department of the Federal Ministry of Health
- B. Federal High Courts in Nigeria
- C. Standard Organization of Nigeria
- D. Local Government Health Inspectors
Bank overdraft as a short term source of fund is
- A. A current liability
- B. An overdrawn account
- C. Grade to a newly opened account
- D. Repayable after more than a year
The factors which critically determines the choice of occupation is
- A. Skill
- B. Training
- C. Aptitude
- D. Interest
The board of directors of public enterprise is appointed by who?
- A. Employees
- B. management
- C. government
- D. shareholders
A title, symbol, or design that distinguishes a company is called
- A. Brand name
- B. Trademark
- C. copyright
- D. Patent right
The duties paid on goods produced locally is
- A. Ad-valorem duty
- B. excise duty
- C. export duty
- D. quota
The Central Bank Monetary policy instrument by which it buys and sells securities is called
- A. Bank rate
- B. Cash reserve ratio
- C. Open market operation
- D. Bank credit
One of the disadvantages of rail transport is
- A. It is not flexible
- B. It carries bulky goods
- C. It works at intervals
- D. Cost of transportation is high
From which of the following sources can partnership increase their capital?
- A. Sales of shares
- B. Admission of new partners
- C. Discharge of mortgage
- D. Grants from relatives
One of these is a current asset
- A. Fittings
- B. Machineries
- C. Motor vehicles
- D. stock
Which of the following functions is not performed by warehousing?
- A. Stabilization of price
- B. production ahead of demand
- C. creating scarcity of goods
- D. storage of goods
What is a Quota?
- A. Tax pad on goods produced within a country
- B. A physical restriction placed on quantity of goods that can be imported
- C. Tax paid on goods produced outside a country
- D. Ban on all imported goods
In the law of contact, a counter offer operates as
- A. A contact
- B. an acceptance
- C. a rejection
- D. a rejection
Privatization is
- A. Transfer of ownership from individual to government
- B. Transfer of ownership from government to stakeholders
- C. Transfer of ownership from government to individuals
- D. Government taking charge of all businesses