The following information relates to Raisa’s grocery store as of 31st December 2018.
| Stock -1st January 2018 | 20,000 |
| Purchases | 150,000 |
| Sales | 230,000 |
| Carriage inwards | 4,000 |
| Rent received | 80,000 |
| Salaries | 29,000 |
| Stock -31st December 2018 |
You are required to calculate:
(a) cost of goods sold
(b) gross profit
(c) net profit
(d) percentage of gross profit
Emeka has been a sales representative for three years but has never met his target.
(a) State five reasons that could have accounted for his inability to meet his target.
(b) Explain five promotional tools he could use to stimulate sales of his company’s products
(a) State five functions of an Export Promotion Council.
(b) Outline five roles performed by the Customs and Excise Authority towards the growth of commerce
(a) State four functions of a Stock Exchange.
(b) Explain the following types of securities traded on the Stock Exchange:
i. debentures
ii. bonds
iii. shares
iv. stock.
(a) Explain four factors to be considered in setting up a retail business.
(b) State how the government uses the following to regulate business:
i. registration of business name
ii. patent;
iii. trade mark;
iv. copyright.
(a) List six credit instruments used in business transactions
(b) Mr. Sylva is considering hire purchase as a source of finance for his business operations. State four advantages and three disadvantages of this source of finance.
(a) State four functions of a cartel
(b) Explain three advantages and three disadvantages of public enterprises
A sole proprietor has been advised to advertise her business in order to increase sales.
(a) i. List four advertising media she could use.
ii. State four factors she would consider in the choice of a medium.
(b) State four advantages of advertising to her business
Which of the following is not an objective of ECOWAS?
- A. promotion of a common language
- B. improvement of infrastructural facilities
- C. encouragement of free movement of people
- D. encouragement of trade among member coutries
A medium of inter-departmental communication is?
- A. intercom
- B. notice board
- C. radiophone
- D. circular
In delegation of authority, the subordinate offer is?
- A. accountable to his immediate superior
- B. responsible for his superiors actions
- C. only answerable to top management
- D. expected to replace his superior
The management function which involves measuring outcomes and taking corrective action to reduce error is?
- A. staffing
- B. organizing
- C. directing
- D. controlling
One of the disadvantages of privatization is that it?
- A. promotes inefficiency of staff
- B. brings about economic decline
- C. reduces government revenue
- D. causes increase in the prices of products
The transfer of ownership of a business from government to the public is?
- A. commercialization
- B. deregulation
- C. privatization
- D. merger
The additional commission paid to agents for guaranteeing payment is?
- A. brokerage
- B. del credere
- C. drawback
- D. demurrage
A person engaged for the purpose of bringing his principal and a third party into a contractual relation is?
- A. an arbiter
- B. an auctioneer
- C. an agent
- D. middlemen
A contract will not be discharged through?
- A. acceptance
- B. aggrement
- C. breach
- D. performance
An agreement that is enforceable in law is?
- A. an offer
- B. a consideration
- C. a contract
- D. an acceptance
The marketing term which regards the consumer as king that must be satisfied is?
- A. market segmentation
- B. market research
- C. marketing concept
- D. marketing mix
Which of the following is not a component of the marketing mix?
- A. product
- B. production
- C. promotion
- D. place
The activity which improves the appearance of a product and also aimed at protecting it is?
- A. advertising
- B. grading
- C. labelling
- D. packaging