(a) Give five reasons why consumers need protection.
(b) Explain five means by which consumers can be protected
(a)Distinguish between Authorized Capital and Called-up Capital
(b) Use the following information to answer the questions that follow: XYZ Limited is a trading company. The following transactions took place in the month of February:
Purchase of goods –
32 suitcases at N3,500 each
42 shirts at N800 each.
Additional information:
(i) The cost of transporting goods to the firm’s premises was #2,500
(ii) Two workers of the firm were paid wages and salaries of 4,500 each.
(iii) Total sales revenue was N180,000. You are required to calculate the: (a) gross profit (b) net profit.
(a) Adama and Awa have teamed up to form a partnership business. Explain five benefits they are likely to derive
(b) State five provisions in the Partnership Deed.
(a) What is the difference between Privatization and Nationalization?
(b) Explain four reasons why a country may choose to privatize state-owned enterprises.
State five effects of hire purchase on each of the following
(a) buyer; (b) seller
Explain the following
(a) Prospectus
(b) Share certificate
(c) Underwriting of shares
(d) Ordinary shares
(e)Dividend warrants.
(a) What is a Capital Market?
(b) State eight reasons why a bank may dishonour a cheque.
Describe the following documents and state one use of each;
(a) consignment note
(b) bill of sight
(c) catalogue
(d) manifest
(e) waybill.
(a) What is Nationalization?
(b) Explain three rea-sons why government nationalizes some businesses.
(c) State four disadvantages of nationalization.
Explain the following and give three benefits of each:
(a) branding
(b) after sales service
(c) self-service
(d) vending machine
(a) State five characteristics of a limited liability company.
(b). Explain five sources of funds to a public limited company.
List and explain five methods used by the Central Bank to control the activities of the commercial banks.
Explain the following terms used in insurance:
(a) surrender value
(b) cover note
(c) policy
(d) re-insurance
(e) group insurance
(a) State four reasons why transport is important to commerce.
(b) Explain three advantages and three disadvantages of air transport.
(a) Distinguish between trade and commerce.
(b) Describe five different activities engaged in by people in commercial occupations.
(a) State one use of each of the following:
(i) Letter of enquiry
(ii) Invoice
(iii)Advice note
(iv) Credit note
(v) Statement of account
(vi) Debit note.
(b) Identify two advantages and two disadvantages of automatic vending.
(a) State five functions of a chamber of commerce.
(b) Explain five functions of a trade association.
(a) List four types each of:
(i) Small scale retailers.
(ii) Large scale retailers.
(b) Explain four reasons why small scale retailers survive despite the dominance of large scale retail outlets.