Water corporation is an example of ______?
- A. co-operative society
- B. public enterprise
- C. private enterprise
- D. limited company
One disadvantages of advertising is that it —
- A. could be misleading
- B. decreases sales
- C. reduces profit
- D. causes over stocking
The quality of money that describe its uniformity is
- A. recognizability
- B. durability
- C. portability
- D. homogeneity
The government agency involved in issuing of export licences is _______?
- A. Nigeria Export Processing Zone
- B. Nigeria Export Promotion council
- C. Nigeria Port Authority
- D. Customs and Excise Authority
A government policy that encourages transfer of ownership from foreigners to indigenes of the country is known as ____?
- A. nationalisation
- B. privatisation
- C. indigenisation
- D. commercialisation
The fees charged on postal order by the post office is _____?
- A. interest
- B. brokerage
- C. poundage
- D. premium
When a buyer has been overcharged for goods supplied, the seller issues a _______?
- A. debit note
- B. proforma invoice
- C. letter of credit
- D. credit note
The letters E and OE stands for __________?
- A. Errors of exception
- B. Errors and omissions excepted
- C. Estimated and order error
- D. End of error
The process of converting a non-profit making organisation to a profit-making business is ________?
- A. indigenisation
- B. privatisation
- C. deregulation
- D. commercialisation
At the collapse of a business enterprises, the person appointed to dispose off the assets is called ________?
- A. an auctioneer
- B. a broker
- C. a liquidator
- D. an auditor
An instrument used in lieu of legal tender is known as ______?
- A. Token money
- B. commodity money
- C. fiat money
- D. representative
The factor of production that is relatively indestructible and immobile is _______?
- A. capital
- B. labour
- C. land
- D. rent
An agreement that is enforceable in law is ________?
- A. a contract
- B. an offer
- C. an acceptance
- D. a consideration
A bill of exchange already accepted can be discounted by the holder in ______?
- A. the central bank
- B. at least two banks
- C. his bank
- D. any bank
Which of the following legislation aims primarily at the protection of consumers?
- A. Law of contract
- B. Trade description Act
- C. Company's Act
- D. Partnership Act
A Major funtion of commerce is to
- A. facilitiate human satisfaction through exchange
- B. eliminate trade barriers
- C. provide raw materials for manufacturers
- D. influence government policies
One of the major reasons for merger is to
- A. reduce the number of unskilled manpower
- B. increase the number of skilled manpower
- C. prevent liquidation
- D. liberalize the market
Petrol voucher is an example of a
- A. bankdraft
- B. legal tender
- C. token money
- D. partial money
The form of credit sales common to low income groups is
- A. hire purchase
- B. club trading
- C. booking -me -down
- D. credit trading
A group of computers that exchange data is referred to as
- A. an information bank
- B. a network
- C. a database
- D. an intranet site
The placement of workers based on their qualifications can be categorized under
- A. public sector
- B. skilled labour
- C. private sector
- D. unskilled labour