Question 41The authority given to a bank to make regular payments on behalf of a customer for a specific purpose is known as A. bank creditB. credit transferC. standing orderD. certified chequesObjective Show full explanation
Question 42Agricultural operative banks are best classified under A. commercial banksB. savings banksC. merchant banksD. specialized banksObjective Show full explanation
Question 43Which of the following is not a service rendered by the wholesaler to the manufacturer? A. warehousingB. quality controlC. financingD. bulk-breakingObjective Show full explanation
Question 44The exchange of goods in foreign trade is known as A. visible tradeB. smugglingC. counter tradeD. entrepot tradeObjective Show full explanation
Question 45Which of the following is not a marketing function? A. advertisingB. insuranceC. packagingD. transportationObjective Show full explanation
Question 46A business which controls more than half of another firm's equity is a A. holding companyB. consortiumC. cartelD. syndicateObjective Show full explanation
Question 47A royalty charter was granted to the Royal Niger Company to do business in Nigeria in A. December 1888B. May 1887C. July 1886D. August 1885Objective Show full explanation
Question 48The major objective of corporate mergers is to A. minimise the effects of taxationB. increase financial advantageC. facilitate profit maximizationD. enhance economies of scaleObjective Show full explanation
Question 49One type of investment that has variable income is A. debenturesB. preferred sharesC. government bondsD. ordinary sharesObjective Show full explanation
Question 50The cost of transportation of goods to customers is called A. carriage inwardsB. carriage forwardC. carriage paidD. carriage outwardObjective Show full explanation
Question 51The cost that arises from failure to load or unload a ship at the port within a stipulated period is known as A. excess chargesB. demurrage chargesC. premium chargesD. trade chargesObjective Show full explanation
Question 52The management function of evaluating whether objectives are being achieved is A. planingB. directingC. organisingD. controllingObjective Show full explanation