Which of the following is not required in a Memorandum of Association? The
- A. name of the company
- B. location of the company
- C. names of the Board of Directors
- D. limitation of member's liability
- E. objectives of the company
The word Ltd written after the name of a company means that?
- A. the individual member's capital is limited
- B. the total sum of the company's capital is limited
- C. members are liable to the extent of their holding
- D. company's location is limited
- E. a shareholder has only one vote
Which of the following is a type of marine insurance?
- A. Endowment
- B. Freight
- C. Accident
- D. Fidelity
- E. Fire
Fidelity guarantee is an insurance cover against loss arising from?
- A. trade debts
- B. personal accidents
- C. dishonest staff
- D. fire disaster
- E. sea disaster
In insurance the term Uberrimae fidei stands for?
- A. utmost good faith
- B. suborgation
- C. insurable interest
- D. indemnity against loss
- E. proximate cause
When a business is insolvent it may result in?
- A. incorporation
- B. recuperation
- C. liquidation
- D. restoration
- E. nationalization
The organization of Petroleum Exporting Countries(OPEC) is an example of a?
- A. cartel
- B. trust
- C. holding company
- D. consortium
- E. chamber of commerce
An individual who makes the final use of goods and services provided by a firm is the?
- A. manufacturer
- B. wholesaler
- C. consumer
- D. retailer
- E. trader
The main purpose of branding is to?
- A. increase the quantity of goods demanded
- B. differentiate goods from other similar goods made by other producers
- C. increase the selling price of goods
- D. enhance turnover of goods
- E. introduce the product to the customers
Which of the following is not part of the facilities provided by the Nigerian Ports Authority?
- A. Dredging
- B. Warehousing
- C. Collection of customs duties
- D. Loading and off-loading of cargoes
- E. Off-loading of cargoes
Which of following could account for a favourable balance of payment?
- A. High capital repayments
- B. high debt service repayment
- C. higher imports than exports
- D. higher expert than imports
- E. higher public spending
Entrepot Trade refers to?
- A. importing for domestic consumption
- B. importing for industrial use
- C. importing for government concerns
- D. exporting for factory use
- E. import for re-port
Charges paid by a for staying at at a port beyond agreed sailing time is called?
- A. profit
- B. interest
- C. holding
- D. carriage cost
- E. demurrage
One advantage of personal selling is?
- A. low cost
- B. immediate feedback
- C. the appeal to many people at a time
- D. self service
- E. speedy market coverage
Which of the following is not an essential of a contract?
- A. Offer and acceptance
- B. Intention to create legal relations
- C. All contracts written out
- D. Legality of object
- E. Consideration
The law which stipulate that labels should give an accurate account of a product is the?
- A. price control act
- B. consumer credit act
- C. trade description act
- D. hire purchase act
- E. product standard act
One of the objectives of the indigenisation programme of the Federal Government of Nigeria is to?
- A. encourage the use of local raw materials
- B. expel all foreigners from Nigeria
- C. make Nigeria businessmen very rich
- D. maximize local retention of profits
- E. promote foreign trade
Which of the following is the safest means of sending a postal order from Lagos to a friend in Jos?
- A. Special delivery
- B. Recorded delivery
- C. Registered letters
- D. First class mail
- E. Express letter
Which of the following is the quickest and accurate means of communication?
- A. Telegram
- B. Express mail
- C. Courier services
- D. Telex
- E. Railex
Which of the following is the most suitable means of transporting bulky goods from Lagos to Kaduna? By
- A. Train
- B. Aeroplane
- C. Ship
- D. Lorry
- E. Caravan
The organizing efforts of consumers to protect themselves against the unfair practices of business is called?
- A. strike
- B. consumerism
- C. amalgamation
- D. co-operation
- E. propaganda