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
Assets of a business which cannot easily be changed into cash are known as
- A. floating capital
- B. fixed capital
- C. working capital
- D. paid-up capital
- E. current capital
Assets of a business which cannot easily be changed into cash are known as
- A. floating capital
- B. fixed capital
- C. working capital
- D. paid-up capital
- E. current capital
When an assured is unable to honor his obligation in an insurance contract thereby terminating it before maturity he could only receive
- A. indemnity
- B. the sum insured
- C. the surrender value
- D. compensation
- E. premium
Which of the following takes the shortest time and is the most accurate means of communication?
- A. Telephone
- B. Express letter
- C. Recorded delivery
- D. Airmail letter
- E. Telegraph
Which of the following is a legal tender?
- A. Central Bank cheque
- B. Bank notes
- C. Bankdraft
- D. Traveller's cheque
- E. Bill of exchange
Which of the following is a legal tender?
- A. Central Bank cheque
- B. Bank notes
- C. Bankdraft
- D. Traveller's cheque
- E. Bill of exchange
Which of the following conditions may lead to the dissolution of a partnership?
- A. Expiry of agreed time
- B. Termination of venture
- C. One partner becomes dormant
- D. Mutual consent of the partners
- E. Bankruptcy of partners
A business unit whose membership range from 2 to 20 is a
- A. co-operative society
- B. partnership
- C. private limited company
- D. public limited company
- E. public enterprise
A business unit whose membership range from 2 to 20 is a
- A. co-operative society
- B. partnership
- C. private limited company
- D. public limited company
- E. public enterprise
The products that are regularly and easily bought by customers through habit are called?
- A. industrial goods
- B. capital goods
- C. specialty goods
- D. giffen goods
- E. convenience goods
Which of the following is not performed by marketing?
- A. Provision of revenue
- B. Provision of employment
- C. Export promotion
- D. Enlargement of the market
- E. Changing the nature of marketable goods
Capital owned is synonymous with the
- A. paid-up capital
- B. working capital
- C. net worth
- D. authorized capital
- E. liquid capital
Capital owned is synonymous with the
- A. paid-up capital
- B. working capital
- C. net worth
- D. authorized capital
- E. liquid capital
Business activities that direct the flow of goods and services from the producer to the consumer is
- A. promotion
- B. advertising
- C. selling
- D. marketing
- E. transportation
Business activities that direct the flow of goods and services from the producer to the consumer is
- A. promotion
- B. advertising
- C. selling
- D. marketing
- E. transportation
The principle of insurance that restores the insured to the position he occupied immediately before the loss occurred is called
- A. utmost good faith
- B. indemnity
- C. subrogation
- D. contribution
- E. insurable interest
The principle of insurance that restores the insured to the position he occupied immediately before the loss occurred is called
- A. utmost good faith
- B. indemnity
- C. subrogation
- D. contribution
- E. insurable interest
The main reason for advertising an already existing line of products is to
- A. develop customers' awareness
- B. entertain customers
- C. introduce a price deal
- D. build brand recognition
- E. retain old customers
The main reason for advertising an already existing line of products is to
- A. develop customers' awareness
- B. entertain customers
- C. introduce a price deal
- D. build brand recognition
- E. retain old customers
Which of the following is a function of advertising?
- A. Stimulation of demand
- B. Leads to market segmentation
- C. Maintenance of quality
- D. Determining selling price
- E. Provision of market information