A hire purchase transaction becomes a sale when the hirer
- A. pays full cost of the goods
- B. agrees with the hire purchase terms
- C. takes possession of the goods
- D. pays part of the instalments
The price of an item is N 300 with a trade discount of 20%, What is the selling price?
- A. N180
- B. N240
- C. N300
- D. N360
- E. no option
In which order are the following documents used?
I. Enquiry
II. Delivery note
III. Order
IV. Invoice
V. Quotation
- A. I, II, III, IV and V
- B. I, V, III, IV and II
- C. II, I, IV, III and V
- D. III, II, V, I and IV
- E. V, IV, I, III and II
Which of the following is NOT a function of Commerce?
- A. Assisting Companies in raise capital
- B. Assisting in transporting men and materials to production points
- C. Extracting goods for further production and processing
- D. Storing goods until they are needed
- E. Offering employment opportunities to a large number of people
Use the following information to answer question
Kolawole’s Opening Stock was N10, 000. His purchases was N280,000 Goods returned outward was N3,000, and the Closing Stock was N8,000
Cost of goods sold is
- A. N180,000.00
- B. N227,000.00
- C. N279,000.00
- D. N290,000.00
- E. N301,000.00
Telecommunication services are provided by
- A. Bureau De Change
- B. Courier Services
- C. Date Post
- D. NIPOST
- E. NITEL
Shares that are fully paid can be converted into bulks known as
- A. bonds
- B. capital reserves
- C. debentures
- D. guilt-edged securities
- E. stocks
The practice of selling some goods below market price to attract more customers is known as
- A. hoarding
- B. loss leader
- C. market sharing
- D. profiteering
- E. speculating
Shares, stocks, government bonds trade in the stock exchange marks: are known as
- A. debentures
- B. gut-edged stocks
- C. merchandises
- D. securities
- E. treasure bills
Which of the following regards the consumer as king?
- A. consumer behavior
- B. marketing concept
- C. market mix
- D. pricing policy
- E. product mix
Public debt management is one of the functions of a —– bank
- A. central
- B. commercial
- C. development
- D. industrial
- E. merchant
Another name for a foreign order is
- A. catalogue
- B. export
- C. import
- D. indent
- E. quotation
A financial document stating the reasons for making a payment and details of the payment is
- A. bank draft
- B. cash book
- C. cheque
- D. payslip
- E. voucher
The process of passing information from one person to another in an organization is known as
- A. communication
- B. co-ordination
- C. delegation
- D. direction
- E. Motivation
When the supplier changes a retailer for not returning empty packages, the supplier sends him a/an
- A. advice note
- B. consignment note
- C. credit note
- D. debit note
- E. statement
Use the following information to answer question
Kolawole’s Opening Stock was N10, 000. His purchases was N280,000 Goods returned outward was N3,000, and the Closing Stock was N8,000
Kolawole’s average stock is?
- A. N9,000.00
- B. N10, 000.00
- C. N279,000.00
- D. N280,000.00
- E. N290,000.00
The combination of product, price,
- A. consumer orientation
- B. marketing concept
- C. marketing mix
- D. marker research
- E. product mix
The fee for sending a telegram depends on the
- A. number of lines contained by the message
- B. number of words contained in the message
- C. the security of the message
- D. time it would take the message to reach its destination
- E. urgency of the message
Income distribution, nature of natural resources, investment etc. forms part of —–business environment.
- A. cultural
- B. economic
- C. political
- D. social
- E. technological
Which of the following is an invisible item of trade?
- A. Banking Service
- B. Petroleum Product
- C. Processed Rice
- D. Processed Milk
- E. Processed Yam Flour
The amount receivable by shareholders after the declaration of profit is called
- A. bonus
- B. commission
- C. dividend
- D. interest
- E. premium