A guarantee given by one person or party to another in which the integrity of the person is assured is?
- A. fidelity
- B. term assurance
- C. subrogation
- D. indemnity
The concept that refers to the sale, transfer or exchange of goods and service is?
- A. industry
- B. trade
- C. tariff
- D. marketing
The basic functin of the Nigeria Ports Authority is to?
- A. ensure that the right calibre of personnel is employed at the ports
- B. coordinate and regulate the activities of shipping lines
- C. facilitate and control the movement of goods and services into and out of the country
- D. coordinate the activities of all the seaports in the country
How much was the trade discount?
- A. N42.500
- B. N27,500
- C. N22,500
- D. 20,000
Use the information below to answer question 7 and 8.
Ojo purchased the following items from Sani at the specified prices on credit:
200 cartons of milk at N1,000 per carton; 50 bags of rice at N3 000 per bag.
Sani allowed 10% trade discount and 5% cash discount, if payment is made within the agreed period. Ojo paid within the agrred period.
What was the the amount paid by Ojo?
- A. N382,500
- B. N425,000
- C. N363,375
- D. N61,625
Goods that are manufactured or acquired by the seller after the contract of sale are?
- A. specialty goods
- B. future goods
- C. specific goods
- D. general goods
A pattern that shows the kinds of participants involved in the production, distribution and ultimate use of a product is referred to as?
- A. selection
- B. strategy
- C. structure
- D. synergy
The main motive of chambers of commerce and trade association is to?
- A. assist governemnt in achieving its objective
- B. protect the interest of consumers
- C. maximize profit
- D. protect and promote the interests of members
The right of ownership with respect to goods or property is?
- A. right of occupancy
- B. proxy
- C. tittle
- D. certificate of occupancy
An obstacle to international trade is?
- A. trade imbalance between countries
- B. availiability of local market
- C. quantity and quality of labour
- D. cost of finance
An example of a service-rendering trade association is?
- A. Nigeria Bar Association
- B. Association of Nigeria Miners
- C. Cocoa Farmers' Association
- D. Manufacturers' Association of Nigeria
The founders ‘share are usually referred to as deferred shares because the holders?
- A. are entitled to cumulative dividends
- B. receive theirdividends after other shareholders
- C. receive their diviends before shareholders
- D. are not entitled to any dividends
An advantage of hire purchase to the consumer is the?
- A. economies of scale in production
- B. possession of goods before payment
- C. increase in turnover and profit
- D. low interest rate chargeable
which of the following is an determines the quality of goods and that a retailer sells?
- A. the mode of contract of sales
- B. the type of manufacturer
- C. the regulations regarding sales in the area
- D. the location of his shop
Which of the following is an example of trade associations?
- A. European Union
- B. National Marketing Board
- C. Organization of African Unity
- D. National Farmers' Council
A group of companies is a collection of?
- A. subsidiaries and their holding company
- B. firms
- C. associates and their holding company
- D. industries
An important issue for consideration in the product element of the marketing mix is the?
- A. adequate of the peroduct
- B. channel of diistribution of the product
- C. price of the product
- D. planing and development of the product
The letters E and OE stand for?
- A. errors of exception
- B. errors and omissions expected
- C. estimate and order error
- D. end of error
The principal objectives of the Central Bank of Nigeria can be classified broadly into?
- A. bankers' bank lender of last resort and issuance of currency
- B. service, currency management and financial intermediation
- C. banking services, foreign exchange operations and open markets operations
- D. service, monetary policy and developmental functions
In product pricing, which of this element needs more consideration than others?
- A. the demand for the product
- B. the demography of the buyers of the product
- C. the economic conditions in the markkets
- D. the cost of producing the product
Securities on which the buyers are not issued with certificate are called?
- A. authorized securities
- B. inscribed securities
- C. bearer securities
- D. registered securities