Which of the following has no legal capacity to a contract
- A. Public Limited Company
- B. Public Corporation
- C. Co-operative Society
- D. A Minor
- E. A Limited Partnership
Which of the following has no legal capacity to a contract
- A. Public Limited Company
- B. Public Corporation
- C. Co-operative Society
- D. A Minor
- E. A Limited Partnership
The production process is completed when what is produced
- A. is in the manufacturer's warehouse
- B. has reached the manufacturer's agent
- C. is in the wholesaler's warehouse
- D. has reached the retailers
- E. has reached the final users
The production process is completed when what is produced
- A. is in the manufacturer's warehouse
- B. has reached the manufacturer's agent
- C. is in the wholesaler's warehouse
- D. has reached the retailers
- E. has reached the final users
The total asset of business minus its total liability is the
- A. net profit
- B. capital owned
- C. working capital
- D. capital employed
- E. gross profit
The returns from capital investment are known as
- A. turnover
- B. commission
- C. annuity
- D. profit
- E. bonus
Gross profit is correctly ascertained by
- A. adding opening stock to purchases
- B. adding closing stock to sales
- C. subtracting returns outwards from purchases
- D. subtracting returns inwards from sales
- E. subtracting cost of goods sold from sales
Gross profit is correctly ascertained by
- A. adding opening stock to purchases
- B. adding closing stock to sales
- C. subtracting returns outwards from purchases
- D. subtracting returns inwards from sales
- E. subtracting cost of goods sold from sales
A supplier who needs to make additional charges for goods delivered will send
- A. a debit note
- B. a credit note
- C. a consignment note
- D. a advice note
- E. a delivery note
A supplier who needs to make additional charges for goods delivered will send
- A. a debit note
- B. a credit note
- C. a consignment note
- D. a advice note
- E. a delivery note
The basic principles upon which International Trade is carried on among countries is
- A. specialization
- B. absolute cost advantage
- C. comparative cost advantage
- D. division of labour
- E. scarcity
Balance of trade is said to be favourable when
- A. visible imports exceed visible imports
- B. invisible exports exceed visible imports
- C. invisible imports exceed visible exports
- D. visible exports exceed visible imports
- E. visible exports exceed invinsible imports
One way of importing goods without the use of foreign exchange is through
- A. exchange controls
- B. entrepot trade
- C. quota
- D. tarriffs
- E. counter trade
Which of the following assists a Nigerian producer to participate in trade fairs and exhibitions abroad?
- A. Nigerian Ports Plc
- B. Shipping and Clearing Agents
- C. Federal Airports Authority of Nigeria
- D. Customs and Excise Authority
- E. Nigerian Exports Promotion Council
Which of the following assists a Nigerian producer to participate in trade fairs and exhibitions abroad?
- A. Nigerian Ports Plc
- B. Shipping and Clearing Agents
- C. Federal Airports Authority of Nigeria
- D. Customs and Excise Authority
- E. Nigerian Exports Promotion Council
A partner who contributes to the capital but does not take part in running the business is known as
- A. a sleeping partner
- B. an active partner
- C. a general partner
- D. a nominal partner
- E. a limited partner
Which of the following guides the operations of a Partnership?
- A. Memorandum of Association
- B. Articles of Association
- C. Certificate of trading
- D. Certificate of Incorporation
- E. The Deed
Which of the following guides the operations of a Partnership?
- A. Memorandum of Association
- B. Articles of Association
- C. Certificate of trading
- D. Certificate of Incorporation
- E. The Deed
An agency that is involved in moving goods or people from place to place for a fee is called
- A. courier agent
- B. consignor
- C. manufacturer
- D. common carrier
- E. factor
An agency that is involved in moving goods or people from place to place for a fee is called
- A. courier agent
- B. consignor
- C. manufacturer
- D. common carrier
- E. factor
Which of the following is not a means of water transport?
- A. Liner
- B. Tanker
- C. Barge
- D. Tramp
- E. Truck