Quantity discount is offerred mainly to persuade the buyer to
- A. defer payment
- B. make prompt purchases
- C. make advance payment
- D. purchase more
Where a manufacturer doesn’t collects money from wholesalers in exchange for goods produced is referred to as
- A. charge account
- B. trading checks
- C. trade credit
- D. I owe you
Which of the following is NOT backed by gold but by government securites?
- A. Fiduciary note
- B. Token money
- C. Commodity money
- D. Fiat money
Which of the following is a legal tender?
- A. Cheque
- B. Travellers cheque
- C. Bank note
- D. Goldsmith receipt
Complying with the rules relating to the conduct of business activities in a country is an aspect of
- A. cultural enviroment
- B. demographic environment
- C. legal environment
- D. political environment
Discharging certian duties by an organization to the public to gain high patronage is a concern of ?
- A. financial responsibility
- B. economic responsibility
- C. legal responsibility
- D. social responsibility
Labour as an input in production can be motivated by
- A. training
- B. profit
- C. remuneration
- D. promotion
An association that acts as a watchdog between enterpreneurs and government to protect trade from any unfavourable laws is said to be a
- A. cartel
- B. syndicate
- C. Chamber of Commerce
- D. Nigeria Bar Association
An ancillary to trade which promotes socio – cultural development all over the world is
- A. transportation
- B. communication
- C. tourism
- D. insurance
One of the functions of the Nigerian Ports Authority is that it
- A. gives preferential treatment to Nigerian investors
- B. provides credit facilities to importers
- C. encourages the growth of infant industries
- D. provides warehosing facilities at the docks
Which of the following is the best method for computing working capital
- A. Total assets less current liabilities
- B. Current liabilities less current assets
- C. Fixed liabilities less current assets
- D. Current assets less current liabilities
The minimum lending rate of a bank is a component of its
- A. current assets
- B. debit balances
- C. credit balance
- D. fixed assets
One of the factors of determining the volume of production is
- A. availablity of forex
- B. availability of storage facilities
- C. the location of the business
- D. the number of skilled manpower
One of the functions of the retailer is
- A. granting credit facilities to close relatives
- B. provision of after - sales services
- C. branding and packaging of goods
- D. warehousing of goods
Which of the following is a traditional medium of communication used to mark festivals?
- A. Palm frond
- B. Metal gong
- C. Talking drum
- D. Gum blast
Which of the followingis a modern trend in retailing ?
- A. Kiosk
- B. Mobile shop
- C. Vending machine
- D. Tied shop
A supplier of flour who intends to sign a contract with a baker through post can establish a binding agreement only
- A. after the offeror has made an offer
- B. when the offeror's letter has reached the offeree
- C. when the offeree's letter has been posted
- D. after the offeree's letter has been recieved by the offeror
When expenses on trading are deducted, the result is the
- A. rate of turn over
- B. net profit
- C. gross profit
- D. cost of goods sold
In the transportation industry, dead freight is used to describe the
- A. cost paid for an empty space left in the ship
- B. charge for each day a performance was delayed
- C. persons that hire a ship for a specific purpose
- D. cost of shipping a particular cargo for a specific voyage
The pricing policy that seeks to set prices relatively high in order to attract the wealthy segment of the market is
- A. target return pricing
- B. market skimming
- C. variable pricing
- D. market penetration
A formal letter to a dealer to enquire details about certain items for sale is referred to as
- A. an inquiry
- B. an invoice
- C. an order
- D. a quotation