information and communication technology is advantageous to the banking industry because
- A. overhead cost is reduced
- B. the number of customers increases
- C. service delivery is fast
- D. interest rates are raised
The individuals who conceive the idea of a company and undertake to fulfill the legal requirements for the venture are the
- A. shareholders
- B. promoters
- C. directors
- D. entrepreneur
The profit received by a member of a cooperative society is
- A. a rebate
- B. an allowance
- C. a dividend
- D. a share
Free editorial space or time not paid for by an organization is called
- A. sales promotion
- B. publicity
- C. public relations
- D. advertisement
The construction of dams, irrigation drains and navigation major responsibility of the
- A. Upper-Nigeria River Basin Commission
- B. Nigeria Basin Commission
- C. Economic Community of West African states
- D. Lack Chad Basic Commission
An element of the marketing mix that is concerned with feature and quality is
- A. price
- B. place
- C. product
- D. promotion
The factors responsible for large scale production of durable goods are
- A. capital and infrastructure
- B. land and infrastructure
- C. labour and capital
- D. equipment and labour
The branding of manufacturers goods aids
- A. market segmentation
- B. demand and supply
- C. price discrimination
- D. product differentiation
A mutual compromise between the central bank and other banks on strategies for economic activities is reached through
- A. cash liquidity ratio
- B. the reserve ratio
- C. moral suasion
- D. open-market operations
The contribution of a department towards the attainment of corporate goals is its
- A. span of control
- B. scalar principles
- C. unity of command
- D. unity of objective
A non-insurable risk is exemplified by
- A. speculation and loss of profit through competition
- B. gambling and whole-life insurance
- C. bad debts and consequential loss insurance
- D. open cover contract and constructive total loss
One objective of privatization is the
- A. provision of infrastructure
- B. provision of education and health facilities
- C. efficient use of resources
- D. protection and development of communities
One of the primary functions of the thrift, credit and loans cooperative society is to
- A. educate its members
- B. disburse money to its members
- C. encourage investment among members
- D. protect members’ valuables
A major disadvantage of the mainframe computer is its
- A. speed
- B. durability
- C. cost
- D. capacity
Sole proprietors finance their businesses through
- A. bonds and savings
- B. savings and bank overdrafts
- C. loans and mortgages
- D. bank overdrafts and leasing
An association of two or that each cannot handle alone is
- A. a cartel
- B. an amalgamation
- C. a merger
- D. a syndicate
The quickest and most accurate means of communication is
- A. fax
- B. telegram
- C. express mail
- D. railex
The major advantage of using a vending machine is that
- A. all sales are automatic
- B. it operates for 24 hours
- C. it has a time limit
- D. it is easily accessible
A system in which a group of persons are appointed to carry out special duties of policy and decision-making is referred to as the
- A. matrix structure
- B. staff structure
- C. committee structure
- D. functional structure
Personal selling is important to a business because it can be used to
- A. distract competitors
- B. distribute free samples
- C. sell custom-made products
- D. effect labour - oriented pricing
An electronic system of communication which serves as the international information bank is called
- A. an e-mail
- B. a satellite
- C. a telex
- D. the Internet