A form of money that has gone out of use is
- A. paper money
- B. commodity money
- C. foreign money
- D. bank money
The conversion of raw materials into finished products creates
- A. form utility
- B. time utility
- C. marginal utility
- D. place utility
A provision in the charter of a company which gives holders of common stock the first option to purchase additional issues of the firm’s common stock is the
- A. pre-emptive right
- B. over-subscription right
- C. ex-dividend right
- D. shareholders right
The major objective of corporate mergers is to?
- A. minimize the effect of taxation
- B. increase financial advantage
- C. enhance economies of sale
- D. facilitate profit maximization
The main advantage of a sole trader is the freedom to?
- A. employ anyone he likes
- B. take quick decision
- C. seek advise from any source
- D. plough all the profits
The principle of span of control stipulates that?
- A. The number of employees reporting to one superior should be kept to a workable maximum
- B. An employee should report to only one superior
- C. Managers must demand accountability from their subordinates
- D. Resources have to be economized within the various divisions
The following information was extracted from the books of Jinka Enterprises as of 31st August 2015
15 cartoons of sweets at N 2,000 per carton.
25 cartons of milk at 4,000 per carton.
15 cartons of sugar 3,000 per carton.
17 cartons of soap at x5,000 per carton
The following payments were made:
Rent and rates
Salaries and wages
Fuel
Electricity
A cash discount of 6% and a 10% trade discount were allowed if payment was made within 7 days.
i. Calculate how much cash was paid for the goods bought if payment was made within 7 days.
ii. If all the goods were sold at a mark up of 20% determine the selling price.
iii. Calculate the value of the newt profit made.
(a) State four services rendered by courier companies.
(b) State three advantages and three disadvantages of rail transport
Country X is facing a situation where its total payments to other countries are greater than its total earnings from abroad.
(a) State the term that relates to the above situation.
(b) Explain six measures the country could take to correct the situation
(a) List six advertising media used in business.
(b) What is personal selling?
(c) State four advantages and two disadvantages of personal selling
(a) State three benefits of a commodity exchange.
(b) Explain two methods of trading in a commodity exchange.
(c) State four requirements for trading in a commodity exchange
(a) State five reasons that would make a bank dishonor a customer’s cheque.
(b) State five reasons countries introduce restrictions in foreign trade.
The staff of Kander Manufacturing Company Limited formed a cooperative society to enable them to have access to funds.
(a) Name the type of cooperative society they formed.
(b) State four features of the cooperative society.
(c) State three advantages and two disadvantages of the cooperative society
(a) List four career opportunities available to a student of commerce.
(b) State two functions of an entrepreneur.
(c) Explain the following activities giving two examples of each:
i. extractive industry
ii. construction industry;
iii. manufacturing industry;
iv. tertiary industry.
The following information relates to Raisa’s grocery store as of 31st December 2018.
| Stock -1st January 2018 | 20,000 |
| Purchases | 150,000 |
| Sales | 230,000 |
| Carriage inwards | 4,000 |
| Rent received | 80,000 |
| Salaries | 29,000 |
| Stock -31st December 2018 |
You are required to calculate:
(a) cost of goods sold
(b) gross profit
(c) net profit
(d) percentage of gross profit
Emeka has been a sales representative for three years but has never met his target.
(a) State five reasons that could have accounted for his inability to meet his target.
(b) Explain five promotional tools he could use to stimulate sales of his company’s products
(a) State five functions of an Export Promotion Council.
(b) Outline five roles performed by the Customs and Excise Authority towards the growth of commerce
(a) State four functions of a Stock Exchange.
(b) Explain the following types of securities traded on the Stock Exchange:
i. debentures
ii. bonds
iii. shares
iv. stock.
(a) Explain four factors to be considered in setting up a retail business.
(b) State how the government uses the following to regulate business:
i. registration of business name
ii. patent;
iii. trade mark;
iv. copyright.
(a) List six credit instruments used in business transactions
(b) Mr. Sylva is considering hire purchase as a source of finance for his business operations. State four advantages and three disadvantages of this source of finance.
(a) State four functions of a cartel
(b) Explain three advantages and three disadvantages of public enterprises