The principle of insurance that prevents the insured from benefiting in an event where he suffers no material or financial loss is
- A. Indemnity
- B. insurable
- C. proximate cause
- D. subrogation
- E. utmost good faith
Which of the following is an objective of regional economic grouping?
- A. For easy religious interactions
- B. For single political governance
- C. For stable political governance
- D. To encourage free flow of trade among members
- E. To harmonize the culture of member countries
The building of schools and hospitals for communities by some oil companies in Niger Delta of Nigeria is an example of
- A. business diversification
- B. business integration
- C. consumer protection
- D. discharge of social responsibility
- E. indigenization
The building of schools and hospitals for communities by some oil companies in Niger Delta of Nigeria is an example of
- A. business diversification
- B. business integration
- C. consumer protection
- D. discharge of social responsibility
- E. indigenization
When a cheque has R/D written on it, it means that the cheque
- A. has been dishonoured
- B. has been honoured
- C. has been paid into the drawer's account
- D. has not been signed
- E. is wrongly worded
When a cheque has R/D written on it, it means that the cheque
- A. has been dishonoured
- B. has been honoured
- C. has been paid into the drawer's account
- D. has not been signed
- E. is wrongly worded
An example of a secured loan is
- A. backdraft
- B. co-operative loan
- C. mortgage
- D. overdraft
- E. trade credit
An example of a secured loan is
- A. backdraft
- B. co-operative loan
- C. mortgage
- D. overdraft
- E. trade credit
A document that is sent by the seller to the buyer to indicate an increase in the annual owes is
- A. credit note
- B. debit note
- C. invoice
- D. letter of credit
- E. receipt
The department responsible for recruitment and promotion of staff is
- A. finance
- B. legal
- C. personnel
- D. production
- E. purchases
The final stage in the production process is
- A. consumption
- B. manufacturing
- C. retailing
- D. warehousing
- E. wholesaling
The final stage in the production process is
- A. consumption
- B. manufacturing
- C. retailing
- D. warehousing
- E. wholesaling
Who among the following engages in extractive activities?
- A. Flour miller
- B. Fisherman
- C. Porter
- D. Singer
- E. Surgeon
Who among the following engages in extractive activities?
- A. Flour miller
- B. Fisherman
- C. Porter
- D. Singer
- E. Surgeon
A public limited company is regarded as a legal entity because
- A. it can sue and be sued
- B. it cannot be liquidated
- C. it has a memorandum of association
- D. the death of the largest shareholder cannot bring it to an end
- E. the government grants it licence
A ship which has no fixed schedule and travels wherever it can find cargoes to carry is a
- A. boat
- B. ferry
- C. liner
- D. tanker
- E. tramp
Which of the following does NOT belong to the group?
- A. Banking
- B. insurance
- C. retailing
- D. transport
- E. warehousing
Which of the following is NOT a component of trade?
- A. Auction
- B. Bilateral
- C. Multi-lateral
- D. Retail
- E. Wholesale
Which of the following is NOT a component of trade?
- A. Auction
- B. Bilateral
- C. Multi-lateral
- D. Retail
- E. Wholesale
The most common form of business unit in West Africa is
- A. co-operative society
- B. joint stock company
- C. partnership
- D. public corporation
- E. sole proprietor-ship
The most common form of business unit in West Africa is
- A. co-operative society
- B. joint stock company
- C. partnership
- D. public corporation
- E. sole proprietor-ship