(a) List five types of business units in Nigeria.
(b) Give five main differences between a retail co-operative society and a public limited liability company.
(a) What is meant by the term insurable risk?
(b) Explain any four circumstances when an insured may not be indemnified.
(a) What is consumerism?
(b) Give three reasons why consumers need protection.
(c) State any five measures taken by government or associations to protect consumers in Nigeria.
Distinguish between the following:
(a) Broker and Jobber.
(b) Gross profit and net profit
(c) Fixed capital and liquid capital.
(d) Factors and del credere agents.
(e) F. 0. B. and C. I. F.
(a) Give any five advantages of advertising.
(b) What are five distinctive merits of television as a medium of advertising.
(a) What is a bonded warehouse?
(b)State four ways in which a bonded warehouse may be useful in international trade.
(a) Explain the meaning of working capital and state its importance.
(b) Outline any seven factors which might affect the rate of turnover.
(a) Messrs Ola and Musa are both merchants. Ola trades on cash basis only while Musa allows credit. Give four reasons each why Ola insists on cash payment and Musa allows credit sales.
(b) Distinguish between cash discount and trade discount.
(a) What is Commerce?
(b) State and explain the importance of any five ancillary services to trade.
One of the main aims of the ECOWAS is to?
- A. foster interchange of goods and services among its members
- B. provide a reliable market for stock and shares
- C. have common political system
- D. have common language
- E. have one currency
The treaty establishing ECOWAS on May 28, 1975 was signed by?
- A. 15 Heads of State
- B. 14 Heads of State
- C. 13 Heads of State
- D. 15 Foreign Ministers
- E. 12 Heads of State
Which of the following is an insurance cover undertaken by the Government for its employees?
- A. Endowment
- B. Marine insurance
- C. Fidelity guarantee insurance
- D. Pensions scheme
- E. Fire insurance
Which of the following is an insurance principle?
- A. Endowment
- B. Premium
- C. Proximate cause
- D. Fidelity guarantee
- E. surrender value
All advertising campaigns foe consumer goods must pay attention to?
- A. cinema advertising
- B. radio advertising
- C. point of sale
- D. door to door sale
- E. neon signs
The management function of anticipating the future determining the best course action to achieve company objective is?
- A. directing
- B. organizing
- C. controlling
- D. planning
- E. consulting
The last link in the chain of distribution is the?
- A. wholesaler
- B. retailer
- C. consumer
- D. factor
- E. advertiser
Which of the following shows the financial position of a business on a given date?
- A. Bank statement
- B. Balance sheet
- C. journal
- D. Cash book
- E. Trial Balance
Which of the following is not a problem of distribution, sales and merchandizing?
- A. Transporting goods
- B. Trade malpractices
- C. Pressure of sales
- D. Sales force complacency
- E. Easy payment for purchases
Which of the following is not one of the functions of warehousing?
- A. Goods are avaiable where the are required
- B. Goods are stored until the are required
- C. Production takes place ahead of demand
- D. changes are avoided in prices which may result from shortage and gults
- E. Goods are available when required
For continuous existence, a service oriented concern depends on?
- A. liquid assets
- B. middlemen
- C. patronage of consumers
- D. legislation of the ruling political party
- E. staff strength of the concern