| NAME | INSURED AMOUNT(₦) |
ACTUAL VALUE(₦) |
ACTUAL LOSS(₦) |
| Mr. P Mr. K Mr. R |
25,000 30,000 40,000 |
100,000 120,000 150,000 |
30,000 40,000 50,000 |
Use the table above to answer questions 27 and 28
If Mr. P takes a fire insurance policy with average clause, his compensation will be
- A. ₦7,500
- B. ₦5,000
- C. ₦70,000
- D. ₦75,000
A person who in consideration for an extra commission takes responsibility for goods sold on credit and in case of default is a
- A. commission agent
- B. factor
- C. broker
- D. del credere agent
The main objective of a trade association is to
- A. protect its members against litigation
- B. protect its members against victimization
- C. boost the trade of its members
- D. secure credit for its members
When two or more companies agree to execute a project too large for one to handle, this is referred to as
- A. an amalgamation
- B. a cartel
- C. a consortium
- D. a merger
Inbound tourism occurs when
- A. residents of a country travel within it
- B. non-residents of a country travel to other countries
- C. residents of a country travel to other countries
- D. non-residents of a country travel within it
An agency contract must involve
- A. a principal and a consumer
- B. a principal and an agent
- C. a principal and a producer
- D. a principal and a third party
The best mode of ensuring that items posted get to the named addresses is through
- A. recorded delivery
- B. certificate of posting
- C. registered mail
- D. express mail
The transmission of the telephone services from one country to another is facilitated by
- A. international facility
- B. internet services
- C. interconnectivity
- D. communication satellite
The primary memory component of a computer is the
- A. console
- B. cache
- C. compliers
- D. assemblers
A person who buys new issues with a view of reselling at a higher price in the near future is referred to as a
- A. bear
- B. bull
- C. dealer
- D. stag
An activity that involves derivation of raw materials from land and sea is
- A. agriculture
- B. farming
- C. extraction
- D. construction
The major determinant of fire insurance premium is the
- A. usefulness of the property to the owner
- B. type and structure of the property to be insured
- C. owner of the property to be insured
- D. extent of fire damage anticipated
A distinctive advantage of GSM is its
- A. cost
- B. stability
- C. coverage
- D. mobility
Use the information below to answer this question
A B C Balance Sheet as at 31/12/2004
|
₦ |
₦ |
What is the capital employed?
- A. ₦ 340,000
- B. ₦ 200,000
- C. ₦ 300,000
- D. ₦ 170,000
Use the information below to answer this question
A B C Balance Sheet as at 31/12/2004
|
₦ |
₦ |
The total sum of financing short term projects is
- A. ₦ 30,000
- B. ₦200,000
- C. ₦70,000
- D. ₦40,000
The excess of the assets over the liabilities of a business is called
- A. capital employed
- B. net worth
- C. working capital
- D. initial capital
The type of communication from a superior to a subordinate in an organization is referred to as
- A. downward communication
- B. upward communication
- C. lateral communication
- D. horizontal communication
The instruments of credit include
- A. billboards and postal stamps
- B. payment vouchers and statement of account
- C. bills of exchange and salary voucher
- D. bills of exchange and promissory notes
Communication process involves the transmission of a message over a selected channel to the
- A. encoder
- B. receiver
- C. audience
- D. sender
Given:
I. Retail
II. Export
III. Transport
IV. Import
V. Insurance
VI. Banking and finance
VII. Wholesale
VIII. Communication.
Which of the above are aids to trade?
- A. III, V, VI and VIII
- B. I, II, III and VI
- C. I, III, V, and VI
- D. II, V, VI and VII
The activities aimed at finding customers needs and satisfaction can be described as
- A. conceptual marketing
- B. macro-marketing
- C. socio-marketing
- D. micro-marketing