An increase in turnover is an increase in?
- A. liquid capital
- B. the volume of sales
- C. current assets
- D. fixed assets
- E. owners equity
A parcel of shoes valued at N2,000 only. Which of the following would be used by the seller to correct this error?
- A. An invoice for N200
- B. A credit note for N1,800
- C. A debit note for N1,800
- D. A debit note for N2,000
- E. A credit note for N2,200
A parcel of shoes valued at N2,000 only. Which of the following would be used by the seller to correct this error?
- A. An invoice for N200
- B. A credit note for N1,800
- C. A debit note for N1,800
- D. A debit note for N2,000
- E. A credit note for N2,200
Which of the following is true of a delivery note? It
- A. is sent in anticipation of delivery
- B. does not show the prices of the goods
- C. gives additional information about the goods
- D. shows the pictures of goods being delivered
- E. is a demand for payment
Which of the following is true of a delivery note? It
- A. is sent in anticipation of delivery
- B. does not show the prices of the goods
- C. gives additional information about the goods
- D. shows the pictures of goods being delivered
- E. is a demand for payment
A document that is sent to a buyer when credit is not allowed is?
- A. invoice
- B. consignment note
- C. debit note
- D. proforma invoice
- E. delivery note
An instalmental buying system where ownership immediately transfers to the buyer is known as?
- A. deferred payment
- B. hire - purchase
- C. spot buying
- D. cash sales
- E. prompt payment
Who is liable for the contract entered into the agent on behalf of his principal? The
- A. agent
- B. principal
- C. agent and principal
- D. third party
- E. lawyer who drew up the agreement
Net Profit is the?
- A. excess of income over expenses
- B. total income from the sale of goods
- C. difference between sales and purchases
- D. amount of purchasenless closing stock
- E. excess of total sales over total purchases
Which of the following terms of price quotation includes cost of transportation to buyers premises?
- A. FOB
- B. C & F
- C. FOR
- D. FAS
- E. Exship
Which of the following is the safest means of sending a postal order from Lagos to a friend in Jos?
- A. Registered letter
- B. Recorded delivery
- C. Railex
- D. First class mail
- E. Express mail
Which of the following protects consumers against poor quality goods?
- A. Nigerian Chambers of Commerce
- B. Standards Organization of Nigeria
- C. Trade Association
- D. Manufacturers Association of Nigeria
- E. Nigerian National Supply Company
Which of the following services is not rendered by NIPOST?
- A. Poste Restante
- B. Express delivery
- C. C.W.O
- D. Telegram
- E. Registered post
Which of the following services is not rendered by NIPOST?
- A. Poste Restante
- B. Express delivery
- C. C.W.O
- D. Telegram
- E. Registered post
The machine used in sending telex message is known as?
- A. photocopier
- B. typewriter
- C. teleprinter
- D. punching machine
- E. dictaphone
The machine used in sending telex message is known as?
- A. photocopier
- B. typewriter
- C. teleprinter
- D. punching machine
- E. dictaphone
Goods discharged from ship on which import duties have not been paid are kept in the?
- A. ordinary warehouse
- B. private warehouse
- C. public warehouse
- D. wholesaler warehouse
- E. bonded warehouse
Which of the following is not a function of warehousing?
- A. Provision of storage facilities
- B. Availability of goods where needed
- C. Availability of goods when needed
- D. Reduction of price fluctuation
- E. Production in anticipation of demand
The telephone service through which one can dial any number,local,trunk or overseas is known as?
- A. internal communication system
- B. standard dialling system
- C. subscriber's trunk dialling system
- D. international telecommunication
- E. coded dialling order
Which of the following defines communication?
- A. Movement of goods
- B. Transmission of information
- C. Movement of people
- D. Storing of information
- E. Distribution of newspapers
Which of the following defines communication?
- A. Movement of goods
- B. Transmission of information
- C. Movement of people
- D. Storing of information
- E. Distribution of newspapers