The document which gives the current price and terms of trade of a product is called?
- A. a letter of credit
- B. an invoice
- C. an advice note
- D. a consignment note
- E. an order form
When firms that operate at different stages in the production of a commodity merge, this is known as
- A. horizontal intergration
- B. vertical intergration
- C. absorption
- D. conglomerate
- E. cartel
To which of the following occupations does a broker belong?
- A. Extractive
- B. Manufacturing
- C. Commercial
- D. Constructive
- E. Direct services
To which of the following occupations does a broker belong?
- A. Extractive
- B. Manufacturing
- C. Commercial
- D. Constructive
- E. Direct services
Which of the following is used in home trade?
- A. Bill of lading
- B. Bank draft
- C. Letter of credit
- D. Certificate of origin
- E. Documentary credit
Which of the following is used in home trade?
- A. Bill of lading
- B. Bank draft
- C. Letter of credit
- D. Certificate of origin
- E. Documentary credit
One of the features of reinsurance is the
- A. total transfer of risk from one company to another
- B. protection of insurance company by the government
- C. protection of the insured by the third party
- D. collection of indemnity by third party only
- E. transfer of a portion of risk from one insurer to another
One of the features of reinsurance is the
- A. total transfer of risk from one company to another
- B. protection of insurance company by the government
- C. protection of the insured by the third party
- D. collection of indemnity by third party only
- E. transfer of a portion of risk from one insurer to another
Which of the following is not one of the aims of indigenization? To
- A. reduce the remittance of profits aboard
- B. increase the control of the government over its economy
- C. expose the indigenes to different business enterprises
- D. collection of indemnity by third party only
- E. transfer of a portion of risk from one insurer to another
Which of the following is not one of the aims of indigenization? To
- A. reduce the remittance of profits aboard
- B. increase the control of the government over its economy
- C. expose the indigenes to different business enterprises
- D. collection of indemnity by third party only
- E. transfer of a portion of risk from one insurer to another
When a company raises additional capital by selling shares directly to the public through insurance companies or investment houses, this is known as
- A. rights issue
- B. bonus issue
- C. private placing
- D. debenture issue
- E. preference share issue
Ali Plc with issued capital of #500,000 in #1.00 shares has for now requested shareholders to pay only 50k for each #1.00 share. The amount requested from the shareholders by the company is called?
- A. issued capital
- B. Called-up capital
- C. paid-up capital
- D. capital owned
- E. borrowed
The total assets of Ogo Plc is #16,000 and the liabilities included loan #2,000, creditors #1,000 and electricity bill #2,000. Calculate the capital owned by the company?
- A. #21,000.00
- B. #18,000.00
- C. #17,000.00
- D. #16,000.00
- E. #11,000.00
The total assets of Ogo Plc is #16,000 and the liabilities included loan #2,000, creditors #1,000 and electricity bill #2,000. Calculate the capital owned by the company?
- A. #21,000.00
- B. #18,000.00
- C. #17,000.00
- D. #16,000.00
- E. #11,000.00
An agent who takes possession of goods and sells in his own name but does not guarantee payment is known as
- A. del credere-agent
- B. general agent
- C. broker
- D. factor
- E. special agent
An agent who takes possession of goods and sells in his own name but does not guarantee payment is known as
- A. del credere-agent
- B. general agent
- C. broker
- D. factor
- E. special agent
If goods invoiced at #1,500 were sold to Etim at less 15% trade discount, he would pay
- A. #1,725.00
- B. #1,425.00
- C. #1,275.00
- D. #1,225.00
- E. #1,200.00
From the following figures in the accounting books of XY company, calculate its working capital : stock #2,000; cash #1,500; Creditors #1,000; Bank overdraft #1,400
- A. #5,900
- B. #1,900
- C. #1,100
- D. #900
- E. #100
Who among the following has no right of ownership to a business organization?
- A. Shareholder
- B. Enterpreneur
- C. Partner
- D. Debenture holder
- E. Sole-proprietor
Who among the following has no right of ownership to a business organization?
- A. Shareholder
- B. Enterpreneur
- C. Partner
- D. Debenture holder
- E. Sole-proprietor
The imposition of high tariff on imported goods by the customs authority is to
- A. protect businessmen
- B. encourage imports
- C. encourage the consumption of foreign goods
- D. discourage exports
- E. protect infant industries