Kate insured her fancy store for losses arising from burglary. The store was later burnt down. Which insurance principle denied her compensation?
- A. Contribution
- B. indemnity
- C. Proxirnate cause
- D. Subrogation
- E. Utmost good faith
When manufacturers sell directly to consumers they have eliminated
- A. advertising agents
- B. brokers
- C. middleman
- D. retailers only
- E. wholesalers
When manufacturers sell directly to consumers they have eliminated
- A. advertising agents
- B. brokers
- C. middleman
- D. retailers only
- E. wholesalers
Short-term loan to expand a business is provided by
- A. building societies
- B. central bank
- C. commercial banks
- D. cooperative societies
- E. mortgage banks
Short-term loan to expand a business is provided by
- A. building societies
- B. central bank
- C. commercial banks
- D. cooperative societies
- E. mortgage banks
Equity of a company is another name for……. shares.
- A. cumulative preference
- B. founders
- C. ordinary
- D. preference
- E. redeemable preference
Equity of a company is another name for……. shares.
- A. cumulative preference
- B. founders
- C. ordinary
- D. preference
- E. redeemable preference
The drawer of a cheque is usually the
- A. banker
- B. creditor
- C. debtor
- D. payee
- E. presenter
The insurance policy that specifically covers damage to structure or machinery of a ship is known as…….insurance.
- A. cargo
- B. hull
- C. marine
- D. ship owners
- E. time
A ‘duty bill’ is used to indicate whether the goods arriving a port are……..
- A. being awaited
- B. clean
- C. damaged
- D. delivered
- E. on transit
Department stores are usually located in
- A. areas free from traffic jam
- B. areas where low income earners live
- C. city centres
- D. low rental areas
- E. suburban town
One way of restricting the quantity of goods which may be imported into a country is by
- A. balance of payment
- B. dumping
- C. quotas
- D. tariff
- E. terms of trade
A receipt is a/an
- A. acknowledgement of money received
- B. credit instrument
- C. list of goods received
- D. list of goods to be supplied
- E. order for the goods to be purchased
All these are instruments of consumer protection EXCEPT
- A. Bill of Exchange Act of 1882
- B. Food and Drug Department of Ministry Health
- C. Sale of Goods Act of 1979
- D. Standard Organization of Nigeria
- E. Trade Description Act of 1968
At an auction sale, an auctioneer acts as a/an……….
- A. agent
- B. attorney
- C. broker
- D. principal
- E. representative
At an auction sale, an auctioneer acts as a/an……….
- A. agent
- B. attorney
- C. broker
- D. principal
- E. representative
Profit in partnership is shared according to
- A. agreement in the deed
- B. amount contributed by each partner
- C. number of hours put in by each partner
- D. seniority of partner
- E. types of partners
Profit in partnership is shared according to
- A. agreement in the deed
- B. amount contributed by each partner
- C. number of hours put in by each partner
- D. seniority of partner
- E. types of partners
All are aids to Trade EXCEPT
- A. advertising
- B. banking
- C. retailing
- D. transportation
- E. warehousing
All are aids to Trade EXCEPT
- A. advertising
- B. banking
- C. retailing
- D. transportation
- E. warehousing
The last link in the chain of distribution is the
- A. consumer
- B. manufacturer
- C. producer
- D. retailer
- E. wholesaler