Which of the following can be used to establish an importer’s title to goods?
- A. cargo receipt
- B. way bill
- C. bill of lading
- D. import license
An instruction to an agent abroad restricting him to buy from a named manufacturer is known as
- A. pro forma invoice
- B. an open indent
- C. a closed indent
- D. an order
A public limited liability company is owned by
- A. government
- B. shareholders
- C. general public
- D. debenture holders
One of the following does NOT fit into the group.
- A. agriculture
- B. carpentry
- C. fishing
- D. mining
All the following are principles of insurance EXCEPT
- A. insurable interest
- B. particular average
- C. utmost good faith
- D. subrogation
A person who runs a business on his own account is called a
- A. customer
- B. sole trader
- C. director
- D. partner
An allowance made to a customer for prompt payment is known as
- A. bulk discount
- B. commission
- C. cash discount
- D. allowance
Prospectus in relation to a public limited inability company means
- A. a document stating the types or shares
- B. an invitation to the public to collect dividends
- C. an invitation to the public to buy shares
- D. a document where the names of shareholders are written
Which of the following is NOT an aim of advertising?
- A. inspiring public confidence in the goods
- B. arousing the interest of the public
- C. reducing the cost of the goods produced
- D. attracting the attention of the public
A tax paid on goods manufactured and consumed in your country is called
- A. excise duty
- B. goods tax
- C. income tax
- D. custom duty
An agreement that is enforceable in law is called
- A. an offer
- B. a decree
- C. a contract
- D. a declaration
The first Nigerian enterprises promotion decree was promulgated in
- A. 1972
- B. 1973
- C. 1974
- D. 1977
Closing stock is also known as
- A. stock at close
- B. balance brought forward
- C. opening inventory
- D. stock at beginning
The main objective of nationalization of industries is to
- A. prevent existing firms from liquidation
- B. Make more profit for the government
- C. prevent all aliens from taking part in the business activities of a country
- D. bring an Industry under state ownership and control
The sum which the insured pays periodically to his insurance company is called
- A. a commission
- B. an indemnity
- C. a policy
- D. a premium
Which of the following does a seller send in reply to a letter of inquiry?
- A. quotation
- B. credit note
- C. debit note
- D. delivery note
Which of the following is NOT part of Pre-Sales Service/ice?
- A. granting of credit or hire purchase sales facilities
- B. assisting the prospective buyer to set up facilities for storage
- C. dispatching of quotation and price list
- D. providing detailed information about goods to be purchased