(a) Give two uses of each of the following documents in business transaction.
(I) Proforma invoice
(ii) Advice note
(iii) Credit note
(iv) Statement of account
(v) Receipt.
(a) Give four uses of an Organization chart
(b) Explain three reasons why managers may refuse to delegate
(c) State three advantages of delegation of authority.
(a) What is public relations?
(b) State and explain five media of public relations.
(a) Give three similarities and three differences between hire purchase and deferred payment.
(b) Explain four reasons why a trader would prefer the use of cheque to cash for large payments.
Explain the social responsibilities of a business to the following:
(a) the community
(b) the employee
(c) the shareholders
(d) the government
(e) the consumers.
(a) Give any five features which are common to both cooperative societies and private limited companies
(b) Explain any five differences between cooperative societies and private limited companies.
Write short notes on each of the following
(a) Marine insurance,
(b) Accident insurance
(c) Group insurance
(d) Export Credit Guarantee insurance
(e) Fire insurance
(a) State five reasons why road transport would be preferred to rail transport
(b) Give five functions of the Nigerian Airport Authority.
(a) Give two examples of small-scale retail outlets and three examples of large- scale retail outlets
(b) Explain five reasons for the survival of small-scale retailers.
Which of the following are functions of marketing?
- A. Buying, fnancing, selling and transporting
- B. Sorting, grading, managing and storage
- C. Risk-bearing, storage, production and promotion
- D. Organizing, risk-bearing, transporting and storage
- E. Production, promotion, distribution and pricing
Dumping means selling goods abroad
- A. at a lower price than in the home market
- B. at a higher price than in the home market
- C. at the same price as in the home market
- D. on credit in the foreign market
- E. for ready cash in the foreign market
An agent who guarantees payments for goods sold is
- A. a factor
- B. a del credere agent
- C. a broker
- D. a partner
- E. an aunctioneer
The shares of XYZ Plc are quoted at the stock exchange by a jobber at 85k for k share. How much will Alabi, an investor who buys 500 shares pay?
- A. #675.00
- B. #425.00
- C. #250.00
- D. #175.00
- E. #75.00
A foreign order which instructs an agent to buy certain goods at a particular place called
- A. letter of credit
- B. letter of attorney
- C. open indent
- D. closed indent
- E. bill of laden
A foreign order which instructs an agent to buy certain goods at a particular place called
- A. letter of credit
- B. letter of attorney
- C. open indent
- D. closed indent
- E. bill of laden
A group of people in the same line of business who come together for the interest of its members is called
- A. Chamber of Commerce
- B. trade association
- C. trade union
- D. consortium
- E. cartel
One of the demerits of sole trading is
- A. quick decision taking
- B. flexibility in operation
- C. unlimited liability
- D. pride of ownership
- E. ease of commencement
An insurance policy which benefits one’s family only is in the event of one’s death is known as
- A. a comprehensive insurance
- B. a whole-life insurance
- C. an endowment policy
- D. an annuity
- E. a third party insurance
Which of the following will enable customs officers to correctly assess import duties on goods?
- A. Pro-forma invoice
- B. Bill of exchange
- C. Documentary credit
- D. Consular invoice
- E. Bill of laden
Which of the following ensures that the quality of a product is maintained?
- A. Price Control Board
- B. Chamber of Commerce
- C. Food and Drugs Act
- D. Standards Organisation of Nigeria
- E. Manufactures Association of Nigeria