When a seller sends pro-forma invoice to a potential customer, it is?
- A. an indication that the seller is out of business
- B. an indication that the goods are out of stock
- C. a polite way of asking him to return the goods already purchased
- D. an invitation to the purchaser to buy on hire-purchase
- E. an indication that credit will not be granted
A documents which a retailer sends to a wholesaler requesting him to supply items is called?
- A. a letter of inquiry
- B. a catalogue
- C. an invoice
- D. an order
- E. a tender invoice
The use of catalogues is associated with?
- A. hawkers
- B. roadside traders
- C. mobile shops
- D. chain stores
- E. mail-order business
Which of the following is a retail outlet to eliminate the profit of middlemen?
- A. Producer co-operative
- B. Consumer co-operative
- C. Thrift and Credit Society
- D. Department store
- E. Multiple shop
Which of the following is statutorily responsible for providing information and incentives required to increase the volume of Made-in-Nigeria goods in foreign markets?
- A. Association of Nigeria Exports
- B. Nigeria Export Promotion Council(NEPC)
- C. General Agreement onTariffs and Trade(GATT)
- D. Association of Nigeria Importers
- E. Manufacturers Association of Nigeria
The manufacturer would by-pass the wholesaler and the retailer in the distribution of his products if the?
- A. Demand is widespread
- B. Wholesaler and retailer lack office accomodation
- C. Volume of production is high
- D. The product make-up and use are highly technical
- E. Manufacturer has no warehouse
Restoring the insured to his former position by the insurer in the event of his suffering the specified loss is called?
- A. Subrogation
- B. Compensation
- C. Indemnity
- D. Contribution
- E. Surrender value
The two main categories of marine losses are?
- A. Total loss and partial loss
- B. Total loss and particular average loss
- C. Total loss and constructive total loss
- D. Total loss and actual total loss
- E. Partial loss and constructive total loss
A service provided by NITEL through which one can dial any number one wants whether it is a local, trunk or overseas is called the?
- A. Internal Communication System
- B. Standard Dialling System
- C. Subscribers Dialling System
- D. International Telecommunications
- E. Coded Dialling Order
Which of the following is not provided by NIPOST?
- A. Private Mail Bag
- B. Record Delivery
- C. Business Reply Service
- D. Telegram
- E. Poste Restante
The total assets acquired for permanent use in a business concern is called?
- A. Current assets
- B. Fixed assets
- C. Called-up capital
- D. Working capital
- E. Authorized capital
A customer is granted an overdraft by the bank subject to his operating a?
- A. Savings account
- B. Fixed-deposit account
- C. Call-deposit account
- D. Current account
- E. Loans account
An application form which is filled by anyone taking out an insurance policy is called?
- A. A policy form
- B. A claims form
- C. A proposal form
- D. A questionnaire
- E. An entry form
Debentures are part of a company’s?
- A. Authorized share capital
- B. Issued share capital
- C. Paid-up capital
- D. Loan capital
- E. Called-up capital
The insurance cover on property being shipped from one location to another comes under?
- A. Burglary insurance
- B. Fire insurance
- C. Marine insurance
- D. Annuity insurance
- E. Comprehensive automobile insurance
The technique of controlling money supply through the purchase and sale of government bond is called?
- A. Bond control technique
- B. Exchange control technique
- C. Open market operations
- D. Price control mechanism
- E. Span of control technique
When a customer writes a cheque to withdraw cash from his current account, he is both the?
- A. Drawer and the Payee
- B. Drawee and the Payee
- C. Drawer and the Debtor
- D. Drawer and the Creditor
- E. Drawee and the Debtor
Which of the following is not a method of trade restriction?
- A. Exchange control
- B. Stock exchange
- C. Import licence
- D. Embargo
- E. Quota
Workers involved in mining, quarrying or fishing are engaged in?
- A. Secondary production
- B. Primary production
- C. Tertiary production
- D. The manufacturing industry
- E. The construction industry
Which of the following is a feature of Co-operative Societies?
- A. Each member has several votes during meetings
- B. Profits are shared on the basis of shares held
- C. All members have equal votes during meetings
- D. Members are not involved in running the business
- E. The welfare of members is not taken into consideration
Which of the following must be submitted to the Registrar of Companies before the company is incorporated?
- A. Articles of Association and Certificate of Incorporation
- B. Memorandum of Association and Certificate of Incorporation
- C. Articles of Association and Memorandum of Association
- D. Memorandum of association and Prospectus
- E. Certificate of Incorporation and Prospectus