Another name for exchange of goods or other goods is called
- A. barter
- B. buying
- C. credit
- D. selling
- E. specialization
What is NOT an essential element of a valid contract?
- A. acceptance
- B. compensation
- C. consideration
- D. legality
- E. offer
Which document is used to advertise shares to the general public?
- A. Letter of Allotment
- B. Memorandum and Article Associations
- C. Newspaper
- D. Prospectus
- E. Radio and television
Which document is used to advertise shares to the general public?
- A. Letter of Allotment
- B. Memorandum and Article Associations
- C. Newspaper
- D. Prospectus
- E. Radio and television
What is the fastest means of sending documents from one place to another
- A. courier services
- B. express letters
- C. parcels
- D. quick delivery
- E. registered letters
What is the fastest means of sending documents from one place to another
- A. courier services
- B. express letters
- C. parcels
- D. quick delivery
- E. registered letters
The compensation made to an insured for loss incurred in insurance is called
- A. commission
- B. indemnity
- C. interest
- D. pooling risks
- E. premium
The compensation made to an insured for loss incurred in insurance is called
- A. commission
- B. indemnity
- C. interest
- D. pooling risks
- E. premium
A statement of the current price and terms of trade of a product or service is called
- A. debit note
- B. letter of inquiry
- C. order form
- D. quotation
- E. statement of account
A statement of the current price and terms of trade of a product or service is called
- A. debit note
- B. letter of inquiry
- C. order form
- D. quotation
- E. statement of account
Grouping consumers based on their purchasing habits is called market
- A. development
- B. expansion
- C. orientation
- D. segmentation
- E. selection
Which feature of money facilitates small transactions?
- A. divisibility
- B. durability
- C. portability
- D. recognisability
- E. scarcity
Which feature of money facilitates small transactions?
- A. divisibility
- B. durability
- C. portability
- D. recognisability
- E. scarcity
Who has no right of ownership to a business organization?
- A. debenture holder
- B. entrepreneur
- C. partner
- D. share-holder
- E. sole proprietor
Who has no right of ownership to a business organization?
- A. debenture holder
- B. entrepreneur
- C. partner
- D. share-holder
- E. sole proprietor
Goods invoiced at N5,000.00 were sold to Adegoke at less 2½% trade discount. How much would he pay
- A. N2,875
- B. N3,875
- C. N4,875
- D. N5,175
- E. N5,125
Goods invoiced at N5,000.00 were sold to Adegoke at less 2½% trade discount. How much would he pay
- A. N2,875
- B. N3,875
- C. N4,875
- D. N5,175
- E. N5,125
What is a voluntary association of business executives, tradesmen, or entrepreneurs?
- A. Chamber of Commerce
- B. Economic Community of West African States
- C. Lake-Chad Basin Commission
- D. Niger Basin Commission
- E. Trade Union
What is a voluntary association of business executives, tradesmen, or entrepreneurs?
- A. Chamber of Commerce
- B. Economic Community of West African States
- C. Lake-Chad Basin Commission
- D. Niger Basin Commission
- E. Trade Union
Goods that are not useful by themselves, but help in the production of other desired goods are called ……. goods.
- A. capital
- B. convenience
- C. giffen
- D. industrial
- E. specialty
An already existing line of product is advertised in order to
- A. build brand recognition
- B. develop customers’ awareness
- C. entertain customers
- D. introduce a price deal
- E. retain old customers