A bill of exchange to which document of title are attached is known as?
- A. documentary credit
- B. certified bill
- C. documentary bill
- D. irrevocable bill
- E. bill of lading
An organization chart shows the?
- A. relative position of employeesin a firm
- B. customers position in a firm
- C. order in which tasks should be tackled
- D. specification of various jobs in a firm
- E. the profit position of the firm
equity interest in a company is represented by?
- A. preference shares
- B. retained earnings
- C. debentures
- D. bonds
- E. ordinary shares
The consumer is always right. This describes the doctrine of?
- A. social responsibility
- B. consumer movement
- C. consumer sovereignty
- D. consumer protection
- E. caveat venditor
The main aim of the ECOWAS is the?
- A. elimination of aparthied
- B. formation of West African High Command
- C. formation of Government of West African States
- D. Promotion of economic and cultural interaction
- E. promotion of ethnic and rural integration among members states
In nationalized industries, losses are borne by the?
- A. tax payers
- B. shareholders
- C. debenture holders
- D. Minister of industries
- E. Borad of Directors
A cover note is a?
- A. Document of title to goods
- B. letter from the tax authority
- C. label attached to goods foe indentification
- D. temporary insurance certificate
- E. letter issued by banks to customers
Which of the following accompanies goods supplied and forms a receipt when signed by the consignee?
- A. Invoice
- B. Order
- C. Delivery note
- D. Requisition note
- E. Advice note
Details of a new share for which the public is being invited to subscribe are contained in the?
- A. Memorandum of Association
- B. Certificate of Trading
- C. Certificate of Incorporation
- D. Prospectus
- E. Balance sheet
Which of the following is not a necessary document in incorporating a company?
- A. Memorandum of Association
- B. Articles of Association
- C. A statement of nominal capital
- D. A certificate of Trading
- E. A statement of minimum subscription
Which of the following are elements of the economic environment of business?
- A. Government policy
- B. Norm and value
- C. Politics
- D. inflation and unemployment
- E. Family and peer groups
Which of the following are the important functions of any organization?
- A. Planning, Marketing, Finance and Personnel Management
- B. Planning, Organizing, Controlling and Motivating
- C. Planning, Production, Controlling anf Marketing
- D. Planning, Personnel, Organizing and Motivating
- E. Planning, Staffing, Building and Warehouse
The principle of subrogation in insurance means that?
- A. the insured could make profit from his loss
- B. the insured must be fully indemnified
- C. those insured should pool their risks
- D. parties to the insurance contract must reveal all relevant facts
- E. the insurer takes the place of the insured in respect of claims due from third paarties
Which of the following is a function of marketing?
- A. manufacturing
- B. quality control
- C. book-keeping
- D. distribution
- E. extraction
When a share is bought at a rate below the par value, it is said to have been sold?
- A. at a discount
- B. cum div
- C. at a premium
- D. ax-div
- E. pro-rata
A’bear’ on the stock exchanges sells share in anticipation of?
- A. a fall in price
- B. a rise in price
- C. a change in price
- D. the liquidation of the company concerned
- E. new issues
Which of the following enhances the leading powers of commercial banks?
- A. High bank rate
- B. Increased cash reserve ratio
- C. Provision for bad and doubtful debts
- D. Decreased liquidity ratio
- E. Increased Capital base
The naria is legal tender because it is?
- A. recongnizable
- B. backed by law
- C. generally acceptable
- D. homogeneous
- E. portable
A document issued by the government authorizing a person to take goods out of the country for sale abroad is known as?
- A. export licence
- B. import licence
- C. dock warrant
- D. bill of lading
- E. consular invoice
A trade deficit means that?
- A. the balance of trade is favourable
- B. exports are less than imports
- C. imports are less than export
- D. exports are decreasing
- E. the balance of payments is unfavourable
A merchant wholesaler is one who?
- A. takes title to the goods he sells
- B. does not own the goods he sells
- C. earns a commision for serving as an agent
- D. sometimes makes retail sales
- E. engages in merchandizing