The process by which the government takes over private business is known as
- A. commercialization
- B. indigenization
- C. nationalization
- D. naturalization
- E. privatization
Which holder receives interest?
- A. cumulative preference
- B. debenture
- C. non-cumulative
- D. ordinary share
- E. preference shares
Which holder receives interest?
- A. cumulative preference
- B. debenture
- C. non-cumulative
- D. ordinary share
- E. preference shares
When one party to a contract refuses to perform the obligations assumed under the contract, there is
- A. breach of contract
- B. frustration
- C. operational law
- D. performance
- E. voluntary agreement of the parties
When one party to a contract refuses to perform the obligations assumed under the contract, there is
- A. breach of contract
- B. frustration
- C. operational law
- D. performance
- E. voluntary agreement of the parties
A syndicate is an/a
- A. association formed by the joining together of firms which were previously independent
- B. association of firms at the same stage of production, formed for the purpose of keeping up prices
- C. association of firms for the regulation of output and prices
- D. combination of firm which carry on the same kind of business such as retailing
- E. company that controls one or more other companies by holding majority of their shares
What is a statement of account? It is a/an
- A. note to inform the customer of an addition to his business transaction
- B. original letter sent to customer asking them to settle their bills
- C. statement of acceptance of credit facilities to a customer
- D. summary of customer’s transactions for a given period
- E. summation of goods sold to a customer for a particular item
What best explains the principle of subrogation in insurable?
- A. Both parties of the insurance contract must deal openly and honestly with each other and disclose all relevant facts
- B. The right that a person has to stand in the place of another and enjoy all the rights and remedies of that other person
- C. There must be a close connection between the risk insured against and the cause of the loss
- D. The insurer who insures the same risk with more than one insurer can only recover to the extent of the loss and nothing more, in the occurrence of the event
- E. The insured discloses all the material facts which would affect the premium which the insurer charges
What best explains the principle of subrogation in insurable?
- A. Both parties of the insurance contract must deal openly and honestly with each other and disclose all relevant facts
- B. The right that a person has to stand in the place of another and enjoy all the rights and remedies of that other person
- C. There must be a close connection between the risk insured against and the cause of the loss
- D. The insurer who insures the same risk with more than one insurer can only recover to the extent of the loss and nothing more, in the occurrence of the event
- E. The insured discloses all the material facts which would affect the premium which the insurer charges
………. is NOT a principle of insurance
- A. utmost good faith
- B. particular average
- C. indemnity
- D. subrogation
- E. insurable interest
………. is NOT a principle of insurance
- A. utmost good faith
- B. particular average
- C. indemnity
- D. subrogation
- E. insurable interest
The reward of capital as a factor of production is
- A. dividend
- B. interest
- C. profit
- D. rent
- E. wages
The reward of capital as a factor of production is
- A. dividend
- B. interest
- C. profit
- D. rent
- E. wages
ln partnership business, the maximum number of persons for its formation is
- A. five
- B. fifteen
- C. ten
- D. twenty
- E. twenty five
What is NOT an instrument of credit?
- A. bills of exchange
- B. cheque
- C. money order
- D. postal order
- E. source document
What is NOT a supplementary service of banks?
- A. agents for payment
- B. custody of valuables
- C. dealing in foreign exchange
- D. investments
- E. referees
What is NOT a supplementary service of banks?
- A. agents for payment
- B. custody of valuables
- C. dealing in foreign exchange
- D. investments
- E. referees
lf the price of a good falls and the demand for that good also fall, then that good is …….
- A. a normal good
- B. an inferior good
- C. a supper good
- D. an expensive good
- E. none
lf the price of a good falls and the demand for that good also fall, then that good is …….
- A. a normal good
- B. an inferior good
- C. a supper good
- D. an expensive good
- E. none
What is NOT a lecture of a co-operative society?
- A. banks easily lend money to them
- B. it is a corporate body with a right to sue and be sued
- C. members have to buy shares to form the initial capital
- D. members have equal opportunity in the control of the society
- E. there is no liability after shareholding is fully paid
What is NOT a lecture of a co-operative society?
- A. banks easily lend money to them
- B. it is a corporate body with a right to sue and be sued
- C. members have to buy shares to form the initial capital
- D. members have equal opportunity in the control of the society
- E. there is no liability after shareholding is fully paid