Dissolution of a partnership could arise from
- A. fall in output
- B. death of a member
- C. non access to capital
- D. increase in market share
The function of money that makes it generally acceptable is
- A. unit of account
- B. store of value
- C. medium of exchange
- D. standard of deferred payment
A bill of lading that is tagged clean means that the goods being delivered are
- A. on credit
- B. not damaged
- C. paid for
- D. duty free
An organization that could strive for improvement in electricity and telephone services to users is
- A. a trade association
- B. a manufacturers' association
- C. a manufacturers' association
- D. a consumers'association
An example of after-sales services is
- A. sorting and grading of goods
- B. granting of discount
- C. provision of price list and terms
- D. free replacement of parts
Operating a state owned enterprise with the intention of making more profit is
- A. nationalization
- B. deregulation
- C. privatization
- D. commercialization
Industrial, commercial and service are types of
- A. specialization
- B. occupation
- C. manufacturing
- D. extraction
An element of a valid contract is
- A. operation of law
- B. performance
- C. breach
- D. capacity to contract
The excess value of total assets over total liabilites is
- A. capital owned
- B. borrowed capital
- C. paid-up capital
- D. paid-up capital
Which of the following is not a factor of production?
- A. Capital
- B. Staffing
- C. Labour
- D. Land
In law of contract, a counter offer operates as
- A. an acceptance
- B. a rejection
- C. an offer
- D. a contract
A system where customer patronage is sought by producing what they need is referred to as
- A. sales promotion
- B. product promotion
- C. market promotion
- D. market orientation
The Central Bank Monetary policy instrument by which it buys and sells securities is called
- A. open market operation
- B. bank credit
- C. cash reserve ratio
- D. bank rate
The process of buying, selling and distribution of goods and services is
- A. marketing concept
- B. marketing
- C. retail trade
- D. commerce
If a business uses part of its profit to develop the area where it operates, the business is fulfilling its
- A. marketing responsibilities
- B. managerial responsibilities
- C. economic responsibilities
- D. social responsibilities
The difference between the central bank and commercial bank is that the former
- A. serves as lender of last resort
- B. discount treasury bills
- C. saves valuable of individual
- D. give loans to the public
The four P’s of marketing are also known as
- A. marketing mix
- B. product mix
- C. promotion mix
- D. advertising mix
What is a quota?
- A. ban on all imported goods
- B. a physical restriction placed on quantity of goods that can be imported
- C. tax paid on goods produced within a country
- D. tax paid on goods produced outside a country
Why is clean bill of lading called so?
- A. it is a clear bill
- B. it shows not records of damaged goods
- C. it shows records of damaged goods
- D. it signifies no debt is owed
Another name or term for a dishonoured cheque is
- A. a bearer cheque
- B. an open cheque
- C. a bounced cheque
- D. an order cheque
The stock exchange is a market where
- A. short-term securities are sold
- B. medium term securities are sold
- C. all types of securities are sold
- D. long term securities are sold