When the price quoted includes all the cost to the actual destination, that is, from the seller’s warehouse to the buyer’s warehouse. it is called
- A. loco price
- B. franco
- C. carriage paid
- D. cash on delivery
Shares are said to be sold at a discount when they are sold
- A. below par
- B. to the public
- C. at par
- D. above par
Which of the following is NOT part of the marketing mix?
- A. place
- B. promotion
- C. price
- D. personnel
The deliberate throwing of some goods into the sea to prevent the ship from sinking is an example of
- A. constructive total loss
- B. an actual total loss
- C. a general average loss
- D. a partial loss
A contract in which all parties to the contract have carried out their obligation is said to be terminated by
- A. performance
- B. breach of contract
- C. operation of the law
- D. frustration
Obi received a cheque for #1000 from Mr. Ade and this cheque was stolen. He must
- A. inform Mr. Ade to tell his bank to stop payment
- B. inform his bank to stop payment
- C. simply ask Mr. Ade for another cheque
- D. tell his bank to add the amount to his bank balance
Which of these is used in calculating working capital?
- A. furniture and fittings
- B. stock of raw material
- C. machinery
- D. office equipment
The policy designed to accelerate the greater participation of Nigerians in the ownership and management of business enterprises in Nigeria is called
- A. nationalisation
- B. indigenity
- C. commercialization
- D. industrialization
Which of the following is NOT regarded as a welfare service in an organization?
- A. training
- B. medical facilities
- C. transportation
- D. recreational facilities
The breaking down of work into different processes is known as
- A. production
- B. division of labour
- C. specialization
- D. exchange
A holding company is one which holds shares in another company up to
- A. 51%
- B. 41%
- C. 33%
- D. 25%
Which area of law is NOT related to business?
- A. agency
- B. hire purchase
- C. possession
- D. contract
The service rendered by NIPOST in which letters are addressed to any post office to await collection by the addressee is known as
- A. business reply service
- B. cash on delivery service
- C. free post service
- D. express mail service
Which of the following warehouse is generally found near a port?
- A. producer's warehouse
- B. bonded warehouse
- C. distributor's warehouse
- D. manufacturer's warehouse
The relationship between a country’s visible imports and exports in a trading year is known as
- A. balance of trade
- B. counter trade
- C. international trade
- D. balance of payment
A multiple shop has many stores which sell
- A. manufactured goods
- B. locally produced goods
- C. perishable goods
- D. similar goods
A bill of exchange sold for less than its face value before maturity is said to be
- A. protested
- B. cleared
- C. dishonored
- D. discounted
Banks issue cheque books to customers holding ___________ accounts.
- A. foreign
- B. current
- C. deposit
- D. fixed deposit
The rights of the consumers does NOT include
- A. the right to a healthy environment
- B. the right to be informed
- C. the right to fix prices
- D. the right to choose
Which of the following CANNOT be sold through a vending machine?
- A. shoes
- B. tickets
- C. snacks
- D. tea
Fishing is an example of
- A. direct services
- B. manufacturing industry
- C. extractive industry
- D. construction industry