A type of partnership in which all partners have unlimited liability and jointly manage the business is known as ……. partnership.
- A. Limited
- B. nominal
- C. ordinary
- D. special
- E. unlimited
The term “caveat emptor” implies that
- A. credit is not allowed
- B. goods are still with the seller
- C. goods have been transferred to the buyer
- D. let the buyer beware
- E. let the seller beware
The term “caveat emptor” implies that
- A. credit is not allowed
- B. goods are still with the seller
- C. goods have been transferred to the buyer
- D. let the buyer beware
- E. let the seller beware
The rules and regulations guiding the conduct of business transactions are known as ……. law
- A. civil
- B. commercial
- C. common
- D. contract
- E. criminal
The rules and regulations guiding the conduct of business transactions are known as ……. law
- A. civil
- B. commercial
- C. common
- D. contract
- E. criminal
An agent held responsible for non-payment of goods bought by the customer he introduced to his principal is called …… agent
- A. del-credere
- B. general
- C. sales
- D. special
- E. universal
An agent held responsible for non-payment of goods bought by the customer he introduced to his principal is called …… agent
- A. del-credere
- B. general
- C. sales
- D. special
- E. universal
The act of being on one job for expertise is called
- A. division of labour
- B. immobility
- C. independence
- D. separation of power
- E. specialization
The act of being on one job for expertise is called
- A. division of labour
- B. immobility
- C. independence
- D. separation of power
- E. specialization
The functions of public corporations include the following EXCEPT
- A. maximizing profits for the board members
- B. providing employment opportunities
- C. providing essential services to the public
- D. providing even development
- E. providing the public with social amenities at reduced cost.
The term “consumer sovereignty” means that the consumer is a
- A. director
- B. king
- C. manager
- D. promoter
- E. target
Which of the following services is NOT rendered by NITEL?
- A. Data Transmission
- B. Recorded Delivery
- C. Satellite
- D. Telex
- E. Telephone
Which of the following services is NOT rendered by NITEL?
- A. Data Transmission
- B. Recorded Delivery
- C. Satellite
- D. Telex
- E. Telephone
A typical example of an event covered by an Assurance Policy is
- A. accident
- B. burglary
- C. death
- D. fire
- E. theft
A typical example of an event covered by an Assurance Policy is
- A. accident
- B. burglary
- C. death
- D. fire
- E. theft
The components of a balance of payments account are
- A. capital, current and fixed deposit
- B. capital, savings and fixed deposit
- C. current, capital and monetary movement
- D. current, savings and monetary movement
- E. current, savings and fixed deposit
The documents sent by the suppliers of good to a prospective buyer, informing him of what to pay if he buys the good is
- A. advice note
- B. credit note
- C. debt note
- D. invoice
- E. pro-forma invoice
The documents sent by the suppliers of good to a prospective buyer, informing him of what to pay if he buys the good is
- A. advice note
- B. credit note
- C. debt note
- D. invoice
- E. pro-forma invoice
The most important document an importer requires to be able to clear his goods from the harbour is
- A. bill of exchange
- B. bill of lading
- C. bill of sale
- D. invoice from the shopper
- E. marine insurance
Association of people in the same line of business is known as
- A. chambers of commerce
- B. holding company
- C. monopolistic association
- D. producers association
- E. trade association
Association of people in the same line of business is known as
- A. chambers of commerce
- B. holding company
- C. monopolistic association
- D. producers association
- E. trade association