The term “consumer sovereignty” means that the consumer is a
- A. promoter
- B. king
- C. manager
- D. director
Use the information below to answer this question.
Aisha sold her wristwatch to Halima for #2,000.00 and she paid. The sum of #2,000.00 is the
- A. entitlement
- B. consideration
- C. money
- D. fees
The coming together of two or more firms with each of them losing its identity is known as
- A. holding
- B. consortium
- C. cartel
- D. amalgamation
A wholesaler who acts as an agent on behalf of the owner of the goods in buying or selling for a commission proportionate to the value of the transaction is called a
- A. commissioned agent
- B. del-credere agent
- C. factor
- D. speculator
Which of the following forms part of a company’s Article of Association?
- A. Nature and object of the business
- B. Registered office
- C. Goodwill and status of shareholders
- D. Name of the company
The functions of public corporations include the following EXCEPT
- A. providing essential services to the public
- B. maximizing profits for the board members
- C. providing even development
- D. providing employment opportunities
A typical example of an event covered by an Assurance Policy is
- A. accident
- B. death
- C. burglary
- D. fire
The document which gives complete information about the goods sold is the
- A. invoice
- B. order form
- C. delivery note
- D. bill of exchange
Transfer of ownership of goods sold under Hire Purchase System takes place when
- A. two instalment have been
- B. a quarter of the total price is
- C. half of the total price is paid
- D. the final instalment is paid
Which of the following is NOT a credit instrument?
- A. Bill of Exchange
- B. Bank Notes
- C. Cheques
- D. Bill of Lading
Tariff can be defined as a compulsory levy on
- A. import and export
- B. foreign exchange earnings
- C. imported goods only
- D. foreigners working in Nigeria
Which type of advertisement induces consumer to purchase the goods he does not need?
- A. Specific
- B. Informative
- C. Persuasive
- D. Descriptive
The act of being on one job for expertise is called
- A. separation of power
- B. immobility
- C. independence
- D. specialization
Which of the following services is NOT rendered by NITEL?
- A. Data Transmission
- B. Recorded Delivery
- C. Satellite
- D. Telex
Branding is the assigning of trade marks to goods for the purpose of……… by the public.
- A. demand
- B. replacement
- C. stabilization
- D. identification
Which of the following advertising media preselects its readership through the nature of its content?
- A. Magazine
- B. Billboard
- C. Hand bill
- D. Newspaper
Ships that pick up cargo from any port and travels anytime are called
- A. ferries
- B. tankers
- C. tramps
- D. steamers
The components of a balance of payments account are
- A. capital, current and fixed deposit
- B. current, capital and monetary movement
- C. capital, savings and fixed deposit
- D. current, savings and monetary movement
Stock exchange quoted the shares of ABC Plc at #0.75K for #1.25K per share. This means the shares were sold at a
- A. par value
- B. premium
- C. gain
- D. loss
The difference between the higher prices and the lower prices quoted for shares and stocks at the stock exchange is known as
- A. commission
- B. brokerage
- C. interest
- D. jobbers turn
The body charged with the responsibility monitoring the quality of goods supplied is the
- A. manufacturers' association
- B. chamber of commerce
- C. Nigerian standards organization
- D. consumers' association