Mr ojo paid Noak the sum of N3,000 for a piece of land without signing a deed of sale. the lement of contract which is lacking is?
- A. valuable consideration
- B. formality
- C. offer and acceptance
- D. capacity
which of the following terms is not used in price qoutation for goods
- A. E. & O,E
- B. C.I.F
- C. EX works
- D. F.A.S
in a hire purchase agreement, the buyer is the
- A. agent
- B. hirer
- C. lesse
- D. lessor
an example of an invisible item of trade is?
- A. oil
- B. shipping
- C. machinery
- D. textile
The amount of capital used in the day-to-day running of a company is?
- A. working capital
- B. capital emplyed
- C. share capital
- D. fixed capital
An overdraft is granted to holders of?
- A. savings accounts
- B. loan accounts
- C. deposit accounts
- D. current accounts
The duty payable on goods produced locally iis
- A. export duty
- B. excise duty
- C. import duty
- D. advalorem duty
The most suitable channel for the sale of an aircraft is?
- A. manufacturer-wholesaler-retailer-consumer
- B. manufacture-wholesaler-consumer
- C. manufacturer - retailer - consumer
- D. manufacturer - consumer
which of the following is a source of short term capital.
- A. trade credit
- B. shares
- C. leasing
- D. debenture
Adama’s opening stock is D5,000. He purchased goods worth D30,000. His closing stock was D7,000 and sales D55,000
What is the rate of stock turnover.
- A. 11 times
- B. 6 times
- C. 4.7 times
- D. 4 times
Adama’s opening stock is D5,000. He purchased goods worth D30,000. His closing stock was D7,000 and sales D55,000
What is the cost of goods sold
- A. D55000
- B. D42,000
- C. D32,000
- D. D28,000
Adama’s opening stock is D5,000. He purchased goods worth D30,000. His closing stock was D7,000 and sales D55,000
what is the average stock
- A. D12,000
- B. D7,000
- C. D6,000
- D. D5,000
which of the following is not a factor of production
- A. capital
- B. labour
- C. exchange
- D. entrepreneurship
The conversion of raw materials into finished goods is performed by?
- A. extractive industry
- B. service occupation
- C. commercial occupation
- D. the manufacturing industry
when a company sells shares to existing shareholders at preferential rate, this is
- A. a right issue
- B. bonus issue
- C. private placing
- D. issue by introduction
A cheque could be dishonoured as a result of?
- A. same amount in words and figure
- B. insufficient fund
- C. general crossing
- D. regular signature
The facility which is not provide by the port authority is?
- A. berth
- B. warehouse
- C. tarmac
- D. cranes
The main purpose of branding is to?
- A. increase the quantity of goods demanded
- B. increase the selling price of goods
- C. differentiate goods from other similar goods
- D. enhance turnover of goods
A memorandum of association is a document
- A. defining a company's relationship with the public
- B. inviting the public to buy a company's shares
- C. governing the affairs of the partnership
- D. regulating a company's internal affairs
The major division of commerce are?
- A. import, export and transportation
- B. trade, communication and warehouse
- C. import, trade and production
- D. trade and auxiliaries to trade
which of the follwing does not belong to the extractive occupation?
- A. quarrying
- B. carving
- C. mining
- D. agriculture