The business unit that applies the principle of one man vote is
- A. public company
- B. partnership
- C. co-operative society
- D. sole properitorship
The production of goods and services in anticipation of demand is made possible by
- A. warehousing
- B. packaging
- C. branding
- D. advertising
Risk bearing in business organisation is a function of the
- A. manager
- B. employee
- C. entrepreneur
- D. customers
One of the major problems of a sole properitor is sourcing for
- A. labour
- B. machineries
- C. raw materials
- D. funds
Which of the following is an item in the marketing mix?
- A. market
- B. consumer
- C. demand
- D. promotion
Land as a factor of production does not vary in
- A. cost
- B. quality
- C. quantity
- D. nature
The organised effort of consumers to protect themselves against the unfair practices of businessmen is known as
- A. picketing
- B. stroke
- C. consumerism
- D. demonstration
The type of activity which turns processed raw materials into consumer and industrial goods is described as
- A. extractive
- B. processing
- C. constructive
- D. manufacturing
Current account holders withdraw money through
- A. transfer
- B. credit cards
- C. withdrawal form
- D. cheque
The duties paid on goods produced locally is
- A. export duty
- B. excise duty
- C. Ad-valorem duty
- D. quota
The part of the computer that has the capacity to interpret instruction is
- A. central processing unit
- B. universal power storage
- C. monitor
- D. keyboard
An example of extractive occupation is
- A. driving
- B. teaching
- C. banking
- D. mining
Factors considered when setting up a retail business is one of the following
- A. capital, experience and trading
- B. experience, term of trade and trading
- C. capital, trading and term of trade
- D. capital, type of goods and source of supply
Which is the fastes means of transportation?
- A. road
- B. air
- C. rail
- D. water
An advantage of division of labour is
- A. productivity and total output is increased
- B. monopoly od task is eliminated
- C. interdependence of workers increase remuneration
- D. loss of individual craftmanship is minimized
The fees charged on postal order by the post office is
- A. premium
- B. poundage
- C. interest
- D. brokerage
A major function of chamber of commerce is
- A. promoting both home and foreign trade
- B. increasing productivity
- C. promoting trade in a particular line
- D. maximizing profit
The rate where a country’s exports exchange for its imports is called
- A. terms of trade
- B. balance of trade
- C. terms of payments
- D. balance of payments
A government policy that encourages transfer of ownership from foreigners to indigenes of the country is known as
- A. indigenisation
- B. commercialisation
- C. nationalisation
- D. privatisation
The function of commerce in relation to production is
- A. helping in the extraction of raw materials from nature
- B. yielding result
- C. providing a link between the different stage of conversion of good
- D. satisfying
| ₦ |
₦ |
||
|
Stock 1/1 |
20,000 | Net sales | 370,000 |
|
Add purchases |
250,000 | ||
|
Cost of goods available for sale |
270,000 | ||
|
Less stock 31/12 |
40,000 | ||
|
Cost of goods sold |
230,000 | ||
|
Rent expenses |
35,000 |
Calculate the net profit
- A. ₦35,000
- B. ₦115,000
- C. ₦105,000
- D. ₦40,000