The process of dividing tasks into jobs and departments and delegating authority is known as
- A. organizing
- B. staffing
- C. directing
- D. leading
The maximum number of shareholders in a public liability company is
- A. twenty
- B. one hundred
- C. fifty
- D. unlimited
A document that lists the goods that are being sent from one place to another is
- A. mail transfer
- B. shipping note
- C. consular invoice
- D. bill of lading
The payment made by a speculator to the buyer when he is unable to deliver stocks on the agreed date is
- A. contango
- B. arbitrage
- C. backwardation
- D. franco
The macro-environmental forces and trends which are a constraint on business operations are referred to as
- A. internal factors
- B. technological factors
- C. economic factors
- D. external factors
Use the conversation below to answer the question below;
MUSA: Taiwo why are you in business?
TAIWO: To optimize profit, provide quality products, and discharge my social responsibilities. What of you, Okon and Kalu
OKON: I am in business to cater to the needs of the consumers at all costs.
KALU: I am in business to make a profit, provided quality products at reasonable prices, and establish a good reputation for myself.
The businessman with the best business objectives is ————————
- A. Okon
- B. Taiwo
- C. Kalu
- D. Musa
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 countries
A medium for intra-departmental communication is all except
- A. intercom
- B. notice board
- C. radiophone
- D. circular
The management function which involves measuring outcomes and taking corrective action to reduce error is
- A. staffing
- B. organizing
- C. directing
- D. controlling
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. a middlemen
A contract will not be discharge through
- A. acceptance
- B. agreement
- 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
The face-to-face meeting of the seller with the buyer for the purpose of making sales is
- A. mass selling
- B. impulse buying
- C. personal selling
- D. sale promotion
A paid presentation about a product with a view to encouraging purchases by an identifiable sponsor is
- A. publicity
- B. personal selling
- C. sales promotion
- D. advertisement
One of the objectives of the Niger Basin Commission is to
- A. regulate the movement of citizens across borders
- B. improve tariff and quota on non-members
- C. regulate the movement of cargo along the river
- D. streaming the construction of dams on the river
The safe keeping of goods produced until they are needed is
- A. hoarding
- B. marketing
- C. packaging
- D. warehousing
A specially-designed mode of transport for conveying liquid and gas is a
- A. coaster
- B. tanker
- C. liner
- D. ferry
A cheque that could be cashed over the counter by the payee is
- A. certified cheque
- B. crossed cheque
- C. open cheque
- D. bank draft