The term ‘caveat emptor’ means ‘let the
- A. account be settled’
- B. buyer beware’
- C. debtor be careful’
- D. manufacturer beware'
- E. seller beware'
What is the OBJECT of a co-operative society?
- A. diversify the members’ produce tor international purpose
- B. gain freedom in marketing the members’ produce
- C. indulge in large scale production and earn huge profits
- D. popularize government policies among the members
- E. provide an agency for meeting the economic needs of members
What is NOT a characteristic of a Private Limited Liability Company?
- A. a shareholder is not free to transfer his shares to someone without the permission of others
- B. its shares cannot be offered to the public through the stock market
- C. the liability of shareholders is not limited to the amount of shams taken up
- D. the minimum and maximum number of shareholders is seven and infinity respectively
- E. the minimum and maximum number of shareholders is two and fifty respectively
What is NOT a characteristic of a Private Limited Liability Company?
- A. a shareholder is not free to transfer his shares to someone without the permission of others
- B. its shares cannot be offered to the public through the stock market
- C. the liability of shareholders is not limited to the amount of shams taken up
- D. the minimum and maximum number of shareholders is seven and infinity respectively
- E. the minimum and maximum number of shareholders is two and fifty respectively
What is NOT a principle of an insurance contract?
- A. contribution
- B. indemnity
- C. insurable interest
- D. premium
- E. subrogation
What is NOT a principle of an insurance contract?
- A. contribution
- B. indemnity
- C. insurable interest
- D. premium
- E. subrogation
ln stock exchange, the buyer is NOT entitled to the dividend when the stock is quoted
- A. clean
- B. cum-dividend
- C. double barrelled
- D. ex-dividend
- E. firm
ln stock exchange, the buyer is NOT entitled to the dividend when the stock is quoted
- A. clean
- B. cum-dividend
- C. double barrelled
- D. ex-dividend
- E. firm
In the stock exchange what is the day when the parties to a transaction decide whether the bargain should be completed held over until the next settlement?
- A. account
- B. contango
- C. making- up
- D. name
- E. ticket
What is an aim of a trade association?
- A. protection of members’ interests
- B. watching government legislation which may affect members interests
- C. encouraging the introduction of standard grades and sizes of goods
- D. making arrangements for the settlement of disputes
- E. exchanging information and creating uniformity in methods of dealing
Which term means that for the price quoted, transporting the goods is ‘free’ up to the time it is placed on board a carrier?
- A. carriage paid (Cge. Pd.)
- B. cost on delivery (C.O.D.)
- C. ex-ship
- D. free on board (F.O.B.)
- E. free on rail (F.O.R.)
Dealing on the Stock Exchange may be either
- A. ‘for cash or ‘for hire’
- B. ‘for jobber’ or 'for broker’
- C. 'for cash' or 'for account
- D. ‘for cash’ or‘ for credit’
- E. ‘for bull’ or ‘ for bear’
Dealing on the Stock Exchange may be either
- A. ‘for cash or ‘for hire’
- B. ‘for jobber’ or 'for broker’
- C. 'for cash' or 'for account
- D. ‘for cash’ or‘ for credit’
- E. ‘for bull’ or ‘ for bear’
What is NOT a means of Central Bank’s controlling the credit policy of commercial banks?
- A. banker's bank
- B. bank rate
- C. cash /liquidity ratio
- D. funding operations
- E. open market operations
What is NOT a concern of the Food and Drug Department of the Federal Ministry of Health?
- A. co-operating with the appropriate agencies to bring about effective price control
- B. educating the consumers on drug abuse
- C. encouraging consumers to eat a more sensible and balanced diet and avoid fatty foods
- D. requiring drug manufacturers to provide printed prescription for certain drugs
- E. requiring drug manufacturers to test the safety and effectiveness of drugs before marketing
What is NOT a concern of the Food and Drug Department of the Federal Ministry of Health?
- A. co-operating with the appropriate agencies to bring about effective price control
- B. educating the consumers on drug abuse
- C. encouraging consumers to eat a more sensible and balanced diet and avoid fatty foods
- D. requiring drug manufacturers to provide printed prescription for certain drugs
- E. requiring drug manufacturers to test the safety and effectiveness of drugs before marketing
What is NOT an advantage of combinations (monopolies)?
- A. bender opportunity to expand operations
- B. fall in the cost of selling
- C. pool of specialized managerial skills
- D. centralized management
- E. danger of over-capitalization
Which union is formed by the workers of firms of similar line of business to cater for their interests?
- A. co-operative
- B. employees
- C. firms
- D. trade
- E. welfare
Which union is formed by the workers of firms of similar line of business to cater for their interests?
- A. co-operative
- B. employees
- C. firms
- D. trade
- E. welfare
What is NOT an advantage of indigenization?
- A. lt enhances the development of private initiative
- B. lt ensures that important social services are provided at affordable cost
- C. lt ensures that Nigerians control and run the business enter-prize of their country
- D. It fosters and accelerates the pace of industrial development
- E. There is a saving in foreign exchange
What is NOT an advantage of indigenization?
- A. lt enhances the development of private initiative
- B. lt ensures that important social services are provided at affordable cost
- C. lt ensures that Nigerians control and run the business enter-prize of their country
- D. It fosters and accelerates the pace of industrial development
- E. There is a saving in foreign exchange