(a)What is a contract?
(b) Explain six reasons for which a contract can be terminated.
Outline two functions of each of the following.
(a) Trade Association
(b) Consumer Association
(c) Customs Authority
(d) Manufacturer’s Association
(e) Chamber of Commerce.
| N | |
| fixtures | 1,000.00 |
| stock 31st december | 8,000.00 |
| Debtors | 5,000.00 |
| Creditors | 3,000.00 |
| Cash in hand | 7,000.00 |
| Bank overdraft | 1,200.00 |
| Typewriter | 4,500.00 |
| furniture | 2,500.00 |
| capital | 8,000.00 |
Calculate:
(a) Capital owned
(b) Working capital
(c) Current liabilities
(d) Fixed capital
(e) Capital employed.
(a)Explain five reasons why communication is important in commerce.
(b) Explain five functions of Advertising.
(a)Explain five reasons why a manufacturer may engage in personal selling.
(b) Explain five characteristics of Sole Proprietorship.
(a)Explain branding and give two suitable examples.
(b) In which five ways does branding affect the consumer?
(a)With the aid of a diagram, illustrate six branches of trade and show six types of retail outlets.
(b) State eight features of hawking.
(a)Describe to Kola a new recruit in your office, the steps he may take to open a current account.
(b) Outline four functions of the Central Bank.
(a)Explain five reasons why consumers need protection.
(b) State five government legislation aimed at consumer protection.
State and explain any five classes of shares a public limited company can issue.
A bill of exchange is retired when it is
- A. paid before maturity
- B. marked "accepted"
- C. discounted
- D. dishonoured
A bill of exchange is retired when it is
- A. paid before maturity
- B. marked "accepted"
- C. discounted
- D. dishonoured
Mr Ajai did not disclose that he stores drums of petrol when he took a fire insurance policy. Under which of the following principles will the insurance company reject his claims
- A. Subrogation
- B. Utmost good faith
- C. Insurable interest
- D. Proximate cost
A contract of sale of goods where ownership passes to the buyer on the payment of first installment is
- A. hire purchase
- B. cash with order
- C. deferred payment
- D. cash on delivery
A picture which indicates that success in life can only be achieved through the use of the product is an example of
- A. market research
- B. persuasive advertising
- C. mass selling
- D. informative advertising
A picture which indicates that success in life can only be achieved through the use of the product is an example of
- A. market research
- B. persuasive advertising
- C. mass selling
- D. informative advertising
Which of the following have lien on goods in their possession until their commission is paid?
- A. Brokers
- B. Factors
- C. Auctioneers
- D. Wholesale merchants
Which of the following have lien on goods in their possession until their commission is paid?
- A. Brokers
- B. Factors
- C. Auctioneers
- D. Wholesale merchants
Which of the following serves as a receipt for goods kept in a bonded warehouse?
- A. Dock Warrant
- B. Bill of Sight
- C. Foul bill
- D. Dock due
Which of the following serves as a receipt for goods kept in a bonded warehouse?
- A. Dock Warrant
- B. Bill of Sight
- C. Foul bill
- D. Dock due
A hire purchase transaction becomes a sale when when the
- A. hirer accepts the hire purchase terms
- B. finance company agrees to pay
- C. hirer takes possession of goods
- D. hirer pays full cost of the goods