Which of the following is a feature of sole proprietorship?
- A. Legal entity
- B. Unlimited liability
- C. Limited liability
- D. Continuity
Which of the following would be used when goods are sent through independent carriers?
- A. Delivery note
- B. Despatch note
- C. Consignment note
- D. Advice note
The rate of turnover is the number of times within a given period that
- A. stock is sold and replaced
- B. closing stock is sold and replaced
- C. purchases are added to stock
- D. average stock is sold
The taking over of privately owned businesses by the government is called
- A. indigenization
- B. commercialization
- C. nationalization
- D. privatization
The authority given to a bank to make regular payments on behalf of a customer is
- A. credit transfer
- B. bank endorsement
- C. standing order
- D. bank overdraft
When an order cheque is endorsed it becomes a
- A. confirmed cheque
- B. bearer cheque
- C. dishonoured cheque
- D. cleared cheque
A stale cheque is one on which the date for payment is
- A. overdue
- B. yet to come
- C. missing
- D. due
Which of the following is not a contract of indemnity
- A. Marine insurance
- B. Fire insurance
- C. Life Assurance
- D. Burglary insurance
Life assurance premium is determined by the assured’s
- A. educational level
- B. age
- C. reputation
- D. number of children
Retail outlets that have identical store design, layout and stock display are
- A. multiple shops
- B. tied shops
- C. mobile shops
- D. supermarkets
Which of the following is sent by a supplier who does not want to sell on credit?
- A. Pro forma invoice
- B. Consular invoice
- C. Quotation
- D. Advice note
Which of the following occupations comes under the extractive industry?
i. Cattle-rearing, lumbering, farming
ii. Mining, quarrying, hunting
iii. Shipbuilding, road construction, iron bending
iv. Singing, dancing, barbing
- A. i, ii and iii only
- B. i, ii and iv only
- C. i and ii only
- D. ii and iii only
Which of the following occupations comes under the extractive industry?
i. Cattle-rearing, lumbering, farming
ii. Mining, quarrying, hunting
iii. Shipbuilding, road construction, iron bending
iv. Singing, dancing, barbing
- A. i, ii and iii only
- B. i, ii and iv only
- C. i and ii only
- D. ii and iii only
A person who invented a new machine for making beverages may protect his exclusive right by
- A. labelling the product
- B. obtaining a patent
- C. choosing a name for the product
- D. obtaining a trade mark
A person who invented a new machine for making beverages may protect his exclusive right by
- A. labelling the product
- B. obtaining a patent
- C. choosing a name for the product
- D. obtaining a trade mark