Question 0The most important function of commerce is in?A.enhancing business relationshipsB.helping people to improve their profitsC.facilitating exchange among individuals and firmsD.assisting trade through banking and insuranceE.Objective Show full explanation
Question 0The three main classification of occupation are?A.construction, trade and servicesB.manufacturing, industry and servicesC.farming, banking and tradingD.industry, commerce and servicesE.Objective Show full explanation
Question 0An oil exploration company is engaged in?A.tertiary productionB.constructive occupationC.extractive occupationD.secondary productionE.Objective Show full explanation
Question 0Service rendered to the public is provided by?A.governementB.civil servantsC.professionalsD.domestic servantsE.Objective Show full explanation
Question 0The creation of goods and services o satisfy human wants is referred to as?A.manufacturingB.commercializationC.productionD.entrepreneurshipE.Objective Show full explanation
Question 0Resources obtained from the extractive sector that are transformed into finished products are examples of?A.primary productionB.tertiary productionC.direct productionD.secondary productionE.Objective Show full explanation
Question 0Which of the following is a limitation of division of labour?A.Decline in craftmanshipB.Monotony of workC.Reduction in outputD.Reduction in labour forceE.Objective Show full explanation
Question 0An individual that links the producer with the retailer is?A.an agentB.a wholesalerC.an entrepreneurD.a principalE.Objective Show full explanation
Question 0One of the functions of a retailer is the?A.financing of production activitiesB.provision of credit facilities to relationsC.provision of jobs for customersD.breaking of bulkE.Objective Show full explanation
Question 0The main frame of selling directly to the consumers by manufacturers is to?A.reduce transportation costB.make contact with individual consumersC.discourage the activities of middlemenD.maximize profit marginE.Objective Show full explanation
Question 0Balance of payment problems arise if a country's?A.exports is more than importsB.imports is more than exportsC.currency devaluationD.invisible exports is more than visible exportsE.Objective Show full explanation
Question 0The three components of a country's balance of payments are?A.current account, capital account and monetary movement accountB.capital account, trade account and business recordC.sales account, profit and loss account and capital accountD.monetary movement account, trade account and sales ledgerE.Objective Show full explanation
Question 0A document that indicates obligation that is transferable by delivery and endorsement is a?A.bill of ladingB.bill of exchangeC.documentary evidenceD.negotiable instrumentE.Objective Show full explanation
Question 0The document which can be exchange for a bill of lading is?A.freight noteB.mate receiptC.export invoiceD.ship reportE.Objective Show full explanation
Question 0The price quoted which includes the cost of insurance, freight and all delivery charges to the importer's warehouse is?A.Free Alongside ShipB.FrancoC.Free On BoardD.Free On RailE.Objective Show full explanation
Question 0The purchase of goods under the CWO system of payment implies that?A.money must be enclosed when orderingB.payment must be made on deliveryC.payment must be made within few daysD.cash must be paid on the spotE.Objective Show full explanation
Question 0The most effective nut limited medium of advertising in Nigeria is?A.billboardB.televisionC.newspaperD.radioE.Objective Show full explanation
Question 0A cheque that has been drawn but not presented for payment can still be honored?A.wintin 6 monthsB.after 9 monthsC.within 9 monthsD.after 6 monthsE.Objective Show full explanation
Question 0The major source of income to commercial banks is?A.tourismB.bankingC.communicationD.transportationE.Objective Show full explanation
Question 0Mr. Lawal insured his warehouse against burglary but it was later gutted by fire. this implies that?A.the loss should be borne by the insurerB.Mr. Lawal is liable only for half of the estimated lossC.the insurer should make a consolation payment for the lossD.the loss should be borne by Mr. LawalE.Objective Show full explanation
Question 0The agreement of insurers to spread risks among themselves is a major feature of?A.reinsuranceB.life insuranceC.underwriterD.marine insuranceE.Objective Show full explanation
Question 0Inbound tourism occurs when?A.non-residents of a country travel to other countriesB.resident of a country travel to another countryC.non-resident of a country tyravel within itD.resident of a country travel within itE.Objective Show full explanation
Question 0One of the major disadvantages of pipeline transportation is its?A.high cost of constructionB.limitation in scopeC.vulnerability to climate changesD.high maintainance costE.Objective Show full explanation
Question 0The business organization that can effectively combine management with control is?A.private limited liability companyB.sole proprietorshipC.public limited liability companyD.co-operation societyE.Objective Show full explanation
Question 0When two or more companies agree to execute a project too large for one to handle, this is referred to as?A.an amalgamationB.a cartelC.a mergerD.a consortiumE.Objective Show full explanation
Question 0In the event of voluntary liquidation, the appointed of a liquidator is the responsibility of the?A.directorsB.creditorsC.promotersD.courtE.Objective Show full explanation
Question 0A source of business financing which involves pledging of a specific assets is?A.bondB.mortageC.debenturesD.loanE.Objective Show full explanation
Question 0An example of a trade association is?A.ALGONB.NLCC.NURTWD.NULGEE.Objective Show full explanation
Question 0A broker is an agent who links a potential investor with?A.a shareholder who wants to register a companyB.other members of the exchange who want to tradeC.governement official on the exchangeD.a quoted companyE.Objective Show full explanation
Question 0Second-tier Securities Market differ from the First-tier Securities Market in that the former is?A.highly restrictedB.regulated by the SECC.regulated by the NIPCD.less restrictedE.Objective Show full explanation
Question 0A communication process providing information for decision-making in an organization is the?A.Management information SystemB.Transmission Control ProtocolC.Information Retrieval SystemD.File Transfer ProtocolE.Objective Show full explanation
Question 0The managerial ability of a supervisor in an organization may be underutilized if the?A.morale of the supervisedis highB.span of control is wideC.span of control is narrowD.morale of thr supervisor is lowE.Objective Show full explanation
Question 0The arrangement and interrelationship of the various components and positions of a business is referred to as?A.organizational structureB.clarity of objectiveC.unity of directionD.line structureE.Objective Show full explanation
Question 0The variety of goods and services which a company offers for sale is its?A.place mixB.promotion mixC.price mixD.product mixE.Objective Show full explanation
Question 0Activities undertaken to create awareness for goods by conducting contest is?A.marketing conceptB.consumerismC.sales promotionD.marketing mixE.Objective Show full explanation
Question 0The slogan, a wonderful world, used by a communication network is a form of?A.product differentiationB.persuasive advertisingC.publicityD.packagingE.Objective Show full explanation
Question 0To make a simple contract valid, the intention must be?A.legal and writtenB.legal and bindingC.legal and attractiveD.legal and harmoniousE.Objective Show full explanation
Question 0The major parties to an agency relationship are the?A.principal and the creditorB.bailee and the bailorC.principal and the agentD.shareholder and the creditorE.Objective Show full explanation
Question 0One of the obligations of an employer to an employee is to?A.indemnify him against liabilities incurred on dutyB.award scholarship to his childrenC.terminate his appointment without prior noticeD.indemnity himagainst injuries caused through negligenceE.Objective Show full explanation
Question 0The body charged with the responsibility of regulating foods and drugs in Nigeria is the?A.SONB.NDLEAC.NAFDACD.CACE.Objective Show full explanation
Question 0The physical components of a computer system refers to the?A.system unitB.hardwareC.softwareD.compact diskE.Objective Show full explanation
Question 0An example of a computer operating system is?A.the PagemakerB.the Word PerfectC.Microsoft Word 2000D.Windows 2000E.Objective Show full explanation
Question 0Intranet differs from extranet in that the former?A.requires a modem before it could be usedB.can generally be accessed by the publicC.is restricted to employees of an organizationD.requires internet protocolsE.Objective Show full explanation
Question 0A predominant make-up language for web pages is the?A.IPB.HTTPC.HTMLD.TCPE.Objective Show full explanation
Question 0A software application which enables a user to display and interact with texts, images and videos is the?A.web serverB.Internet ProtocolC.coreldrawD.web browserE.Objective Show full explanation
Question 0The symbol at in an internet mail address is used to?A.seperate the user name from the machine nameB.link the user with other Internet usersC.locate the addresses of Internet usersD.link the user with the machineE.Objective Show full explanation
Question 0A business organization is said to be socially responsible when it?A.gets involved in issues relating to the societyB.rewards its staff for long-term serviceC.offers discounts to customersD.invites the public to its annual general meetingsE.Objective Show full explanation
Question 0Resources obtained from the extractive sector that are transformed into finished products are examples ofA.primary productionB.tertiary productionC.direct productionD.secondary production.E.Objective Show full explanation
Question 0From the diagram above, what does I stand for?A.Aids to tradeB.PublicityC.Home tradeD.AdvertisingE.Objective Show full explanation