(a).Why is it important for commercial information to be rapid and accurate?
(b) What are the advantages of courier services over public postal services?
(a) Explain five reasons why many small business turn into private limited liability companies.
(b) What are the disadvantages of such a decision?
(a) What is a business merger?
(b) Explain the reasons why some businesses merge.
(c) Give three disadvantages of business merger.
(a) What is marketing?
(b) Distinguish between marketing and selling.
(c) Explain five functions of marketing.
The following are the trading of Zainab Trading Co. Ltd, for the year ended 31st December, 1986.
Creditors 20,000
Premises 20,000
Machinery 20,000
cash 20000
Debtors 30,000
stock 50,000
cost of goods sold 100,000
sales 200,000
plant 30,000
Rent 10,000
From the above, calculate the (a) Fixed assets; (b) working capital; (c) gross profit (d) net profit.
Mention and explain five ways in which a business discharges its social responsibilities to the society.
Business relationships are deeply rooted in the law of contract’.
(a) What is a contract?
(b) State the essential elements of a valid contract.
(ii) Briefly discuss any three of them.
Mention and explain five functions performed by the Central Bank of Nigeria showing how they facilitate commercial activities.
Describe five measures each which a government may take to:
(a) restrict imports
(b) promote exports.
(a) In what ways does transport aid trade?
(b) Explain the following in connection with water transport:
(i) freight
(ii) charter party.
Division of labour is limited by?
- A. non-availability of special skills
- B. the problem of mass production
- C. the extent of supply
- D. the extent of the market
- E. non-availability of money
The relationship between a country’s total receipts and payments in international trade in a given year is called?
- A. balance of trade
- B. balance of payments
- C. terms of trade
- D. balance of current account
- E. balance on capital account
The marketing concept which begins and ends satisfying the needs and wants of the consumer is called?
- A. caveat venditor
- B. consumer orientation
- C. consumer association
- D. consumer protection
- E. caveat emptor
The form of advertising which aims at wining the market for one particular brand is known as?
- A. informative advertisement
- B. generic advertisement
- C. persuasive advertisement
- D. competitive advertisement
- E. direct advertisement
The outright purchase of one company by another is called?
- A. absorption
- B. merger
- C. cartel
- D. acquisition
- E. privatization
The reward of land as a factor of production is known as?
- A. interest
- B. rent
- C. profit
- D. wages
- E. toll
The reward of land as a factor of production is known as?
- A. interest
- B. rent
- C. profit
- D. wages
- E. toll
An agreement whereby the seller transfers the title to goods at a price is called?
- A. contract of sale
- B. a hire-purchase agreement
- C. an agency agreement
- D. a contract of carriage of goods
- E. haggling
Who is liable for the contact entered into by the agent on behalf of his principal? The
- A. agent
- B. principal
- C. agent and the principal
- D. third party
- E. lawyer who drew up the agreement
A document sent to a customer at regular price intervals to enable him know his indebtedness to his supplier is known as?
- A. debit note
- B. invoice
- C. statement
- D. receipt
- E. consignment note
A document sent to a customer at regular price intervals to enable him know his indebtedness to his supplier is known as?
- A. debit note
- B. invoice
- C. statement
- D. receipt
- E. consignment note