(a)(i) What is a trade association?
(ii) Give two examples
(b) Explain any five functions of a trade association.
The state of affairs of Danchukwu Enterprises for the year ended 30th September, 1997 shows the following:
Capital 90,000.00
Creditors 22,000.00
Vehicles 50,000.00
Furniture & Fittings 20,000.00
Cash in hand 18,000.00
Stock 24,000.00
(a) What is Danchukwu’s working capital, using the above information?
(b) Mention four uses of working capital.
(c) Differentiate current capital from fixed capital.
(a) Illustrate any four channels of distribution of manufactured goods.
(b) Explain the statement the longer the channel, the higher the price.
(c) Give five reasons why small scale retail businesses may fail.
(a) Who is an actuary?
(b) Differentiate between contribution and group insurance
(c) Describe three types of risks that may be insured against under marine insurance.
Write the following in full and explain their meanings:
(a) C.I.F.
(b) F.O.B.
(c) F.A.S.
(d) F.O.R.
(e) C.F.
(a) Distinguish between marketing and a market
(b) In which four ways is marketing important to a developing country?
(a) What is an agency?
(b) Explain the features of the following agents:
(i) Factor
(ii) Broker
(iii) Del-credere agent
(iv) Auctioneer.
(a) Define a bill of exchange.
(b) State six essential features of a bill of exchange.
(c) List the parties to a bill of exchange.
(a) Mention four types of co-operative societies.
(b) State two distinguishing features and two functions of each type mentioned in 2(a) above.
(a) What is production?
(b) Illustrate with a labeled diagram the main divisions and subdivisions of production.
Which of the following is not true of air transport?
- A. it is used to transport goods of high value
- B. has high operating costs
- C. it is good for transporting blood for infusion
- D. operates normally irrespective of weather conditions
- E. it travels on schedule
Which of the following is not true of air transport?
- A. it is used to transport goods of high value
- B. has high operating costs
- C. it is good for transporting blood for infusion
- D. operates normally irrespective of weather conditions
- E. it travels on schedule
A symbol that is used to distinguish a company’s product from others is a
- A. licence
- B. trade mark
- C. patent right
- D. trade permit
- E. copy right
A symbol that is used to distinguish a company’s product from others is a
- A. licence
- B. trade mark
- C. patent right
- D. trade permit
- E. copy right
Penalty imposed by a ship owner for exceeding the period charter is
- A. lump sum
- B. dock dues
- C. tariff
- D. demurrage
- E. dead frieght
Penalty imposed by a ship owner for exceeding the period charter is
- A. lump sum
- B. dock dues
- C. tariff
- D. demurrage
- E. dead frieght
Which of the following is not a business resource?
- A. Market
- B. Man
- C. Money
- D. Machine
- E. Materials
One advantage of direct selling is
- A. low cost
- B. immediate feedback
- C. mass appeal
- D. self-service
- E. speedy market coverage
Which of the following guarantees payment on presentation?
- A. Certified cheque
- B. Crossed cheque
- C. Order cheque
- D. Bearer cheque
- E. Open cheque
Which of the following guarantees payment on presentation?
- A. Certified cheque
- B. Crossed cheque
- C. Order cheque
- D. Bearer cheque
- E. Open cheque
Which of the following is legally used by the insured while the policy is being processed?
- A. Cover note
- B. Proposal form
- C. Indemnity form
- D. Premium
- E. Claim Form