A person who undertakes responsibility for forming a new company is
- A. auditor
- B. solicitor
- C. registrar
- D. promoter
The process of winding up a public limited company by a court order is known as
- A. termination
- B. dissolution
- C. voluntary liquidation
- D. compulsory liquidation
A country is said to achieve a trade surplus when total
- A. visible exports exceed total visible imports
- B. invisible exports exceed total invinsible imports
- C. visible exports exceed total invisible imports
- D. visible imports exceed total visible exports
A country is said to achieve a trade surplus when total
- A. visible exports exceed total visible imports
- B. invisible exports exceed total invinsible imports
- C. visible exports exceed total invisible imports
- D. visible imports exceed total visible exports
A physical restriction placed on the quantity of goods that can be imported is
- A. a ban
- B. a quota
- C. an excise duty
- D. an import tax
A physical restriction placed on the quantity of goods that can be imported is
- A. a ban
- B. a quota
- C. an excise duty
- D. an import tax
Direct sales to consumers by manufacturers is a means of eliminating
- A. wholesalers only
- B. retailers only
- C. middlemen
- D. agents
Direct sales to consumers by manufacturers is a means of eliminating
- A. wholesalers only
- B. retailers only
- C. middlemen
- D. agents
The selling of goods in small units is normally performed by
- A. chambers of commerce
- B. wholesalers
- C. distributors
- D. retailers
A tariff refers to
- A. fees imposed on contraband goods
- B. fees paid on exports
- C. taxes imposed on imported goods
- D. taxes paid on home-made goods
Ad valorem duties are based on the
- A. importance of the goods imported
- B. value of the goods imported
- C. weight of the goods imported
- D. nature of the goods imported
Ad valorem duties are based on the
- A. importance of the goods imported
- B. value of the goods imported
- C. weight of the goods imported
- D. nature of the goods imported
Which of the following is not a function of warehousing
- A. Creating security of goods
- B. Stabilization of price
- C. Production ahead of demand
- D. Storage of goods
A person’s deliberate decision to reduce the value of her currency is called
- A. deregulation
- B. inflation
- C. devaluation
- D. revaluation
Which of the following is an advantage of a sole trader?
- A. Guaranteed profit
- B. Quick decision-making
- C. Unlimited liabilty
- D. Buying on credit
The money issued by Ola Maro and Co Ltd. in running the day to day activities of the business is represented by
- A. fixed capital
- B. capital employed
- C. paid-up capital
- D. working capital
A Ltd. Company has an authorized capital of 2,000,000 shares of D5 each. If the company issued 1,200,000 shares, its issued capital is
- A. D 10,0000,000
- B. D6,000,000
- C. D4,000,000
- D. D2,000,000
The difference between current assets and current liabilities is
- A. Issued capital
- B. capital employed
- C. working capital
- D. nominal capital
A personal computer on sale in an office equipment shop is an example of
- A. stock
- B. fixed asset
- C. liability
- D. fixed capital
Public enterprises are financed mainly by
- A. the shareholders
- B. commercial banks
- C. government grants
- D. mortgage banks
Which of the following is a feature of supermarkets?
- A. Gives credit to reliable customers
- B. Specializes in one line of product
- C. Goods are on display with price tags
- D. Does not have to provide storage facilities