(i) Companies must be registered as private limited liability companies. (ii)Companies must not have less than 100 shareholders (iii) No shareholder may have more than 75% of issued shared capital. What of the above are requirements for admission into the second-tier securities market?
- A. i and ii only.
- B. i and iii only
- C. i, ii and iii only
- D. ii and iii only.
The type of securities that the stock exchange deals with are
- A. warrants, currency notes, money orders and postal orders
- B. cheques, bankdrafts , warrants and promissory notes
- C. bonds ivory, treasure bills, debentures and warrants
- D. stocks, shares, bonds and warrants.
The assets, liabilities and general management of a distressed bank may be taken over by?
- A. International Bank for Reconstruction and development
- B. Nigeria Industrial Development Bank
- C. Nigeria Banks Deposit Insurance corporation
- D. Nigeria Bank for Commerce and Industry
The most important difference between community banks and peoples’ bank is that the?
- A. latter is owned solely by government while the former are not
- B. former cater for ruler dwellers while the latter cater for both rural and urban dwellers
- C. former are service oriented while the latter are profit oriented
- D. latter advances loans to the public while former advance loans to the rural dwellers only.
Insurance companies operate on the principal of indemnity. This means that an insured person or firm collector
- A. Only half of the loss suffered
- B. double the value of the losses suffered
- C. the total sum of the premium paid prior to the loss
- D. damage claims equal to the loss suffered.
the two main categories under which marine losses fall into are?
- A. particular loss and average loss
- B. actual loss and average loss
- C. total loss and partial loss
- D. voyage policy loss and time policy loss
The document with which a manufacturing enterprises releases stock
Of raw materials to the factory for product is called?
- A. stock releases form
- B. goods received note
- C. stock issues voucher
- D. materials release note
When a price is quoted at F.O.B. it means that the price?
- A. excludes loading charges incurred in bringing the goods to port of destinction
- B. exclude all necessary shipping charges payable for insurrance
- C. includes all charges payable on shipping a consignment to the port destination
- D. includes charges payable for for loading goods onto the ship
Enter pot trade is said to have taken place when goods are?
- A. held at the port payment of custom duty
- B. sold in the ship under special regulation
- C. imported and then re-export
- D. kept for further processing before sales
What document is required when a country imposes ad valorem import duties on goods?
- A. A mail transfer
- B. A shipping note
- C. A billb of lading
- D. A consular invoice
A machine which enable s sales without the physical presence of a sales attendant is a
- A. computer machine
- B. vending machine
- C. telex machine
- D. fax machine
If a firm’s turnover is N15,000 and the cost of goods sold is N 10,000 What is the percentage of gross profit on sales?
- A. 23.3%
- B. 33.3%
- C. 50.0%
- D. 66.6%
The form of capital which is easily transferred into the form desired is known as?
- A. working capital
- B. liquid capital
- C. circulating capital
- D. capital employed
Use the information above to answer this question
What is the ratio?
- A. 2.95:1
- B. 4.25:1
- C. 4.75:1
- D. 5,55:1
Use the information Above to answer this question
What is the current ratio?
- A. 4:1
- B. 4.5:1
- C. 5:1
- D. 25.5:1
A provision in the charter of a company which gives holders of common stock the first option to purchase additional issues of the firm’s common stock is known the?
- A. pre-emptive right
- B. shareholders right
- C. ex-dividend right
- D. over-subscription right
Which of the following statement is true of preferred stockholders?
- A. They have no voting rights at annual general meetings
- B. They first claim company asset before creditors
- C. The have first claim to company asset after all debts have been settled
- D. They share dividends equally with common shareholders
Which of the following is an example of a conglomerate?
- A. National Electric Power Authority
- B. United Africa Company Nigeria Plc
- C. The Nigeria Railway Corporation
- D. First Bank of Nigeria Plc
A source of capital to private limited companies is shares issued to
- A. the public
- B. selected persons
- C. members of the borad of directors
- D. dedicated members of staff
Which of the statements below is true of Mr Abayomi?
- A. He can assign his shares to another without consent of other partners
- B. He cannot take part in the management of the business
- C. His actions as a limited partner can bind the firm
- D. His death will automatically dissolve partnership
Use the above information below to answer question 7 and 8.
Mr obi is a manager of obi Agricultural Venture.
he makes all the decisions and takes all profits
from the business. H e had agreed with Alhaji Musa
It can be deduce from the above that obi AgricultrualVenture is a
(a farmer) to pool their resources together and
expand their business.They invited Mr Abayomi
(a cotton grower) to join them. Mr Abayami agreed on the condition that his liability in the new firm will be limited to his investment in it. The thus registered Obi, Musa and Abayaomi”s Agricultural ventures.
- A. A sole proprietorship
- B. general partnership
- C. limited partnership
- D. limited partnership
- E. joint partnership