A partner who does not play an active role in a business but contributes capital is a
- A. secret partner
- B. dormant partner
- C. nominal partner
- D. limited partner
- E. general partner
Which of the following is an advantage of personal selling?
- A. Immediate feedback
- B. Low cost
- C. Self service
- D. Speedy market coverage
- E. Selling to many people at a time
Which of the following is an advantage of personal selling?
- A. Immediate feedback
- B. Low cost
- C. Self service
- D. Speedy market coverage
- E. Selling to many people at a time
Which of the following is not an element of a contract?
- A. Consideration
- B. Probability
- C. Legality
- D. Capacity
- E. Consensus
Which of the following is not an element of a contract?
- A. Consideration
- B. Probability
- C. Legality
- D. Capacity
- E. Consensus
Which of the following is suitable for transporting fish a long distance?
- A. Tramp
- B. Cargo liner
- C. Tanker
- D. Barge
- E. Refrigerated ship
Which of the following is not true of franking machines ?
- A. Hired by companies and licensed by NIPOST
- B. Print postage imprssion on mails
- C. Can print company's logo on mails
- D. Advance payment must be made to NIPOST
- E. Postage stamp is used
The value of a product expressed in monetary terms is known as
- A. utility
- B. price
- C. Premium
- D. commission
- E. interest
A retail co-operative society aims at
- A. encouraging members to save money
- B. buying seeds and fertilizers
- C. Manufacturing goods as cheaply
- D. lending money to members at low rate of interest
- E. cutting off the profits of middlemen
A retail co-operative society aims at
- A. encouraging members to save money
- B. buying seeds and fertilizers
- C. Manufacturing goods as cheaply
- D. lending money to members at low rate of interest
- E. cutting off the profits of middlemen
Which of the following is not true of a private limited company?
- A. The minimum number of shareholders is two
- B. its shares are freely transferable
- C. There is a limit to the number of shareholders
- D. it is following separate legal entity
- E. it is a registered business
Which of the following is not a reason for dishonoring a cheque?
- A. Insufficient funds
- B. Different amounts in words and figures
- C. Uninitiated alteration
- D. Wrong signature
- E. Special crossing
Which of the following is not a reason for dishonoring a cheque?
- A. Insufficient funds
- B. Different amounts in words and figures
- C. Uninitiated alteration
- D. Wrong signature
- E. Special crossing
Which of the following may be used to restrict imports?
i. Bill of lading ii. Specific Licenses iii.Foreign exchange rationing iv. Letters of credit v.Customs duties and tariffs
- A. i, ii and v only
- B. ii, iii and v only
- C. iii, iv and v only
- D. i, ii and iv only
- E. ii, iii and iv only
Which of the following may not be considered when choosing an appropriate channel of distribution for a new product?
- A. Nature of the product
- B. Identification of potential customers
- C. Operating costs
- D. Existing local channel of distribution
- E. Provision of credit facilities to customers
When goods are sent through an independent carrier, the document used by the sender is
- A. a delivery note
- B. an advice note
- C. an invoice
- D. a consignment note
- E. a reciept
When goods are sent through an independent carrier, the document used by the sender is
- A. a delivery note
- B. an advice note
- C. an invoice
- D. a consignment note
- E. a reciept
Musa places the bicycle for sale at #800.00 and Dada had agreed to pay the amount. In this transaction, Musa is the
- A. offerer
- B. offeree
- C. buyer
- D. guarantor
- E. auctioner
Musa places the bicycle for sale at #800.00 and Dada had agreed to pay the amount. In this transaction, Musa is the
- A. offerer
- B. offeree
- C. buyer
- D. guarantor
- E. auctioner
A firm that accepts a portion of the risk involved in an insurance contract is
- A. a broker
- B. an actuary
- C. a speculator
- D. an underwriter
- E. an assessor
An association of employees in an organization is called a
- A. trade union
- B. trade association
- C. consumer association
- D. credit union
- E. co-operative society