Any activity that changes raw materials into consumer or industrial goods is
- A. Constructive
- B. assembling
- C. extractive
- D. manufacturing
Which of the following is not a function of commerce
- A. advertising goods
- B. creation of goods
- C. increasing profit made
- D. distribution of goods
Which of the following is not a function of commerce
- A. advertising goods
- B. creation of goods
- C. increasing profit made
- D. distribution of goods
A bill of exchange is retired when it is
- A. paid before maturity
- B. marked "accepted"
- C. discounted
- D. dishonoured
A bill of exchange is retired when it is
- A. paid before maturity
- B. marked "accepted"
- C. discounted
- D. dishonoured
Mr Ajai did not disclose that he stores drums of petrol when he took a fire insurance policy. Under which of the following principles will the insurance company reject his claims
- A. Subrogation
- B. Utmost good faith
- C. Insurable interest
- D. Proximate cost
A contract of sale of goods where ownership passes to the buyer on the payment of first installment is
- A. hire purchase
- B. cash with order
- C. deferred payment
- D. cash on delivery
A picture which indicates that success in life can only be achieved through the use of the product is an example of
- A. market research
- B. persuasive advertising
- C. mass selling
- D. informative advertising
A picture which indicates that success in life can only be achieved through the use of the product is an example of
- A. market research
- B. persuasive advertising
- C. mass selling
- D. informative advertising
Which of the following have lien on goods in their possession until their commission is paid?
- A. Brokers
- B. Factors
- C. Auctioneers
- D. Wholesale merchants
Which of the following have lien on goods in their possession until their commission is paid?
- A. Brokers
- B. Factors
- C. Auctioneers
- D. Wholesale merchants
Which of the following serves as a receipt for goods kept in a bonded warehouse?
- A. Dock Warrant
- B. Bill of Sight
- C. Foul bill
- D. Dock due
Which of the following serves as a receipt for goods kept in a bonded warehouse?
- A. Dock Warrant
- B. Bill of Sight
- C. Foul bill
- D. Dock due
A hire purchase transaction becomes a sale when when the
- A. hirer accepts the hire purchase terms
- B. finance company agrees to pay
- C. hirer takes possession of goods
- D. hirer pays full cost of the goods
Bonded warehouses are controlled by
- A. Export Promotion Council
- B. Ports Authority
- C. Customs and Excise Authority
- D. Clearing and Forwarding agents
Which of the following implies that the price quoted includes the cost of insurance and carriage?
- A. F.O.B
- B. F.A.S
- C. C.O.D
- D. C.I.F
Which of the following implies that the price quoted includes the cost of insurance and carriage?
- A. F.O.B
- B. F.A.S
- C. C.O.D
- D. C.I.F
Which of the following is the most suitable channel of distribution for technical goods?
- A. manufacturer-retailer-consumer
- B. manufacturer-wholesaler-retailer-consumer
- C. manufacturer-wholesaler-consumer
- D. manufacturer-consumer
Which of the following is the most suitable channel of distribution for technical goods?
- A. manufacturer-retailer-consumer
- B. manufacturer-wholesaler-retailer-consumer
- C. manufacturer-wholesaler-consumer
- D. manufacturer-consumer
Which of the following can be sold through a vending machine?
- A. cigarettes
- B. shirts
- C. handbags
- D. shoes
Which of the following can be sold through a vending machine?
- A. cigarettes
- B. shirts
- C. handbags
- D. shoes