When it became necessary to liquidate a company, the frist step to be taken is the appointment of
- A. a receiver
- B. an auditor
- C. an accountant
- D. liquidator
The major objective of corporate mergers is to
- A. minimize the effects of taxation
- B. increase financial advantage
- C. faclitate profit maximization
- D. enhance economies of scale
The business organization in which shareholder’s have equal vote is
- A. sole pprietorship
- B. partneeship
- C. co-operative
- D. limited liability company
Use the conversation below to answer the question below;
MUSA: Taiwo why are you in business?
TAIWO: To optimize profit, provide quality products, and discharge my social responsibilities. What of you, Okon and Kalu
OKON: I am in business to cater to the needs of the consumers at all costs.
KALU: I am in business to make a profit, provided quality products at reasonable prices, and establish a good reputation for myself.
The businessman that may end up not discharging his social responsibility is——————–
- A. Musa
- B. Okon
- C. Taiwo
- D. Kalu
Partnership are most suitable where
- A. the partners are family friends
- B. professionals are involved
- C. members can easily rasie enough capital
- D. government regulations are favourable
The object of the business are determined by the
- A. workers
- B. government
- C. society
- D. promoters
The main purpose of insurance is to
- A. encourage business to surviveand grow
- B. ensures that facilities are available for operators
- C. accepts risk s and extend credit to policy holders
- D. spread individual losses ove all covered participants
The person who undertakes any risk in insurance business is known as
- A. a broker
- B. an underwriter
- C. an insurer
- D. an actuary
The mode of transportation that is noted for on time dependability and low cost peer unit on gods carried is?
- A. pipe line
- B. air
- C. rail
- D. road
An example of indirect service is rendered by
- A. civil servants
- B. family doctors
- C. household servant
- D. entertainers
Transport, retailing and wholesaling industries rely heavily on
- A. banking
- B. insurance
- C. manufacturing
- D. railway
A royal charter was granted to the Royal Niger Company to do business in Nigeria in
- A. December 1888
- B. May 1887
- C. July 1886
- D. August 1885
Which of the following are the components of commerce?
I Trading and advertising
II Warehousing and transportation
III Packaging and branding
IV Insurance and banking
- A. I and II
- B. I and III
- C. I, II and IV
- D. II, III and IV
The secretariat of the Niger Basin Commission is located at
- A. Ouagadougou, Burkina Faso
- B. Abuja, Nigeria
- C. Niamey, Niger
- D. Bamako, Mali
A firm’s organizational structure would change if
- A. one of the major partner dies
- B. there is excessive competition
- C. there is seasonal variation in demand
- D. the scope of business operation changes
The direct authority of a superior over his subordinate is known as
- A. staff authority
- B. line authority
- C. line and staff authority
- D. office authority
Motivation is an essential element in management because it
- A. leads to the improvement of staff welfare
- B. encourage individual to work towards achieving the orgaization's objective
- C. reduce friction among employees in the process of achieving the company's objective
- D. helps to eliminate industrial disharmony
The practice of assessing employees for payment or advancement according to their observed achievement is called
- A. employee ranking
- B. merit rating
- C. job grading
- D. employee education
Which of the following organizations represents those who engages labour in Nigeria?
- A. Nigerian Labour Congress
- B. Nigerian Employers Consultative Association
- C. Manufacturers Association of Nigeria
- D. Nigerian Union of Local Government Employees
The federal Government made efforts at rendering public enterprises more efficient and profit-oriented through the process of
- A. privatization
- B. commercialization
- C. indigenization
- D. nationalization
When an industry or company is nationalized, the state becomes
- A. the major shareholder
- B. the mini shareholder
- C. the only shareholder
- D. an equal shareholder with other individuals