the main source of income for a limited liability company is?
- A. bank overdraft
- B. government subsidy
- C. undistributed profit
- D. bank loan
- E. share subscrptions
to inform the buyer that the goods are in transit,the seller sends him?
- A. a quotation
- B. an invoice
- C. a debit note
- D. an advice note
- E. a credit note
the reward of capital is?
- A. dividend
- B. interest
- C. profit
- D. rent
- E. rebate
an association formed by Tyre manufacturers to safeguard and promote their interests is known as
- A. co-operative society
- B. chamber of commerce
- C. trade union
- D. consortium
- E. trade association
a speculator in the stock exchange market who sells securities in expectation of a fall in their prices is called?
- A. broker
- B. a bull
- C. a bear
- D. an investor
- E. a stag
which of the following is not the function of a small? retailer
- A. supplying goods to the final consumer
- B. breaking goods into small units
- C. granting credits to known customers
- D. furnishing information to the wholesaler
- E. selling in large quantities
a company has recently advertised an issue of one million ordinary shares of 50kobo and 65kobo per share.wen the issue is fully paid the company will collect?
- A. N65,000.00
- B. N500,000.00
- C. N650,000.00
- D. N1,000,000.00
- E. N65,000,000.00
which of the following is a feature of co-operative society?
- A. dividend is based on the number of shares sold
- B. limited membership
- C. owned and run by the state
- D. democratic controll and management
- E. voting rights are not equal
which of the following is not a means of raising capital by a promoter?
- A. goodwill
- B. borrowing
- C. selling of shares
- D. selling real assets
- E. past savings
which of the following currencies does/do not belong to any country within the ECOWAS?
- A. naira and kobo
- B. dalasi
- C. cedis and pesewas
- D. leo
- E. kwasha and shilling
total sales less total returns inwards is called?
- A. purchases
- B. net profit
- C. gross profit
- D. average stock
- E. net sales
the production of goods in anticipation of demand is made possible by?
- A. packaging
- B. warehousing
- C. branding
- D. advertising
- E. transporting
which of the following is not a means of making payment to a businessman?
- A. bank draft
- B. cash
- C. money order
- D. cheque
- E. statements
the value of anything expressed in monetary terms is the?
- A. utility
- B. price
- C. service
- D. charge
- E. money
which of the following documents may be used when an importer requires a longer period of credit before settlement?
- A. letter of credit
- B. documentry credit
- C. bill of lading
- D. sight draft
- E. bill of exchange
An overdraft is usually granted a?
- A. savings account holder
- B. deposit account holder
- C. current account holder
- D. loan account holder
- E. fixed deposit account holder
Which of the following is a function of money?
- A. Provision of double coincidence of wants
- B. Durability
- C. Standard for deferred payment
- D. Portability
- E. Divisibility
An author’s exclusive right to published and unpublished works is known as?
- A. patent right
- B. fundaamental human right
- C. copyright
- D. authorship
- E. constitutional right
With the exception of life assurance and personal accident insurance, contracts of insurance are contracts of?
- A. premium
- B. indemnity
- C. proximate cause
- D. utmost good faith
- E. general average cause
The amount paid by the assured to the insurer is called?
- A. interest
- B. premium
- C. dividend
- D. indemnity
- E. surrender value
The amount paid by the insurance company to the insured upon giving up his policy is called?
- A. Surrender value
- B. cash bonus
- C. assured sum
- D. dividend
- E. premium