A trader started business with #30,000 and spent #20,000 in buying premises and equipment, the balance of #10,000 is his
- A. authorised capital
- B. fixed capital
- C. working capital
- D. capital owned
- E. called-up capital
A trader started business with #30,000 and spent #20,000 in buying premises and equipment, the balance of #10,000 is his
- A. authorised capital
- B. fixed capital
- C. working capital
- D. capital owned
- E. called-up capital
An offer of new shares made to existing shareholders at a preferential price is called?
- A. bonus issue
- B. rights issue
- C. private placing
- D. debenture
- E. preference share
An offer of new shares made to existing shareholders at a preferential price is called?
- A. bonus issue
- B. rights issue
- C. private placing
- D. debenture
- E. preference share
The insurance policy against claims from customers who might be injured within the business premises is called
- A. life assurance policy
- B. endowment policy
- C. fidelity guarantee insurance
- D. employers liability insurance
- E. engineering insurance
The insurance policy against claims from customers who might be injured within the business premises is called
- A. life assurance policy
- B. endowment policy
- C. fidelity guarantee insurance
- D. employers liability insurance
- E. engineering insurance
An action taken by a seller to avoid risks from unforeseeable price fluctuation is known as
- A. tendering
- B. aunctioneering
- C. quotation
- D. hedging
- E. haggling
An action taken by a seller to avoid risks from unforeseeable price fluctuation is known as
- A. tendering
- B. aunctioneering
- C. quotation
- D. hedging
- E. haggling
The speculator in the stock exchange market who sells securities in anticipation of a fall in price is called a
- A. bull
- B. jobber
- C. bear
- D. stag
- E. broker
Which of the following shows the quality of money
- A. Ability to represent both small and large values
- B. Used for deffered payments
- C. Used as a unit for account
- D. Facilitating exchange
- E. Serving as a store of wealth
If Mr Olu insures Mr Obi’s house, the insurer may, in event of a loss, refuse to pay compensation based on the principle of
- A. utmost good faith
- B. subrogation
- C. insurable interest
- D. indemnity
- E. contribution
Which of the following is an example of insurable risk?
- A. Change in consumer's taste
- B. The probability of a third world war
- C. Flood resulting from excessive rain in a year
- D. The death of a business partner
- E. Loss due to change in fashion
Which of the following is not a function of Development Banks?
- A. Give long-term loans
- B. invest directly into Agriculture
- C. Issue currency notes
- D. Give technical advice to investors
- E. Embark on priority projects of governments
Which of the following is not a means of controlling credit by the Central Bank?
- A. Fixing the bank rate
- B. Open market operations
- C. Clearing inter-bank indebtedness
- D. Special deposits
- E. Cashliquidity ratio
Which of the following is true of rail transport?
- A. Suitable for perishable goods
- B. Fast over long distances
- C. Maximum handling of goods
- D. Gaurantees safety of goods
- E. Does not travel on schedule
Which of the following is true of rail transport?
- A. Suitable for perishable goods
- B. Fast over long distances
- C. Maximum handling of goods
- D. Gaurantees safety of goods
- E. Does not travel on schedule
Credit in business transaction is?
- A. a form of loan
- B. compliment to a good customer
- C. provision of services
- D. a means of saving money
- E. a rebate for large purchases
Which of the following is not connected with after-sales services?
- A. Installment
- B. Granting trade discount
- C. Providing spare parts
- D. Repairing of product
- E. Replacing damaged goods
Which of the following is not connected with after-sales services?
- A. Installment
- B. Granting trade discount
- C. Providing spare parts
- D. Repairing of product
- E. Replacing damaged goods
Which of the following is not a feature of hire purchase?
- A. Customer pays initial deposit
- B. Customer pays purchase price plus interest
- C. Payment is by instalment
- D. Ownership of goods passes to the customer on payment of a deposit
- E. Generally suitable for sales of durable goods
Rate of stock turnover is calculated to determine
- A. total volume of sales
- B. number of times goods are bought and sold
- C. number of times goods are counted
- D. total value of goods in the store
- E. the quality of goods sold