The capital of a company indicated in the Memorandum of Association is known as
- A. authorized capital
- B. capital owned
- C. working capital
- D. fixed capital
- E. called-up capital
The capital of a company indicated in the Memorandum of Association is known as
- A. authorized capital
- B. capital owned
- C. working capital
- D. fixed capital
- E. called-up capital
At what stage is acceptance of offer by post valid? When the letter is
- A. written
- B. posted
- C. delivered
- D. replied
- E. read
At what stage is acceptance of offer by post valid? When the letter is
- A. written
- B. posted
- C. delivered
- D. replied
- E. read
The amount which the insured pays the insurer periodically is
- A. surrender value
- B. premium
- C. interest
- D. compensation
- E. contribution
The dealers who buy and sell stocks and shares in their own name are called
- A. jobbers
- B. brokers
- C. bears
- D. stags
- E. bulls
Which of the following is not an economic grouping?
- A. International Bank for Reconstructing And Development (IBRD)
- B. Lake Chad Basin Commission (LCBC)
- C. United Nations Organization (UNO)
- D. Niger Basin Commission (NBC)
- E. Mano River Union (MRU)
Which of the following facilitates settlement for sub-regional indebtedness?
- A. Niger Basin Commission(NBC)
- B. Lake Chad Basin Commission (LCBC)
- C. The West African Clearing House
- D. Economic Community Of West African States (ECOWAS)
- E. International Monetary Fund (IMF)
Which of the following is not a problem of ECOWAS?
- A. Different levels of economic development in member countries
- B. Transportation and communication links
- C. Different economic policies member countries
- D. Diversified economy for West Africa
- E. Use of different currencies
Which of the following specializes in granting loans to distressed economies?
- A. UNESCO
- B. ECA
- C. IMF
- D. IBRD
- E. UNDP
The major aim of indigenization is to
- A. standardize products
- B. accelerate participation of citizens in business
- C. promote international co-operation
- D. differentiate a country's product from the orders
- E. discourage foreign investment
When an industry formerly owned by individuals is taken over by the government, such an industry becomes
- A. privatized
- B. nationalized
- C. commercialized
- D. indigenized
- E. legalized
When a company sells its shares to an issuing house which later sells to the public, it is called
- A. an offer for sale
- B. a rights issue
- C. a public issue
- D. an issue by prospectus
- E. a private placing
The setting of objectives and determination of the best way to achieve them are known as
- A. coordinating
- B. planning
- C. organizing
- D. motivating
- E. controlling
Measuring performance against the set objectives is a management function that relates to
- A. staffing
- B. planning
- C. organizing
- D. motivating
- E. controlling
Any action taken by a company outside its stated objectives is regarded as
- A. caveat emptor
- B. ultra vires
- C. uberrimae fidei
- D. exemption
- E. formality
The management of a company with a view to ending its operation is known as
- A. low gearing
- B. high gearing
- C. liquidation
- D. horizontal integration
- E. vertical integration
The agency in Nigeria which ensures that products conform to government specifications and quality control is the
- A. Nigerian Labour Congress
- B. Manufacturers Association of Nigeria
- C. Nigerian Chamber of Commerce
- D. Standards Organization of Nigeria
- E. Ministry of Commerce and Industry
The agency in Nigeria which ensures that products conform to government specifications and quality control is the
- A. Nigerian Labour Congress
- B. Manufacturers Association of Nigeria
- C. Nigerian Chamber of Commerce
- D. Standards Organization of Nigeria
- E. Ministry of Commerce and Industry
An association of small scale retailers formed to to encourage bulk buying from manufacturers is known as a
- A. voluntary chain
- B. producer co-operative society
- C. multiple store
- D. department store
- E. hypermarket
The words “Account payee only” on a cheque means
- A. it is transferable
- B. pay only to the holders account
- C. a special crossing
- D. it is a banker's cheque
- E. it is for endorsement