Question 1Hire purchase is beneficial to the seller becauseA.it enhances his living standardB.it increases his turnoverC.people pay install-mentallyD.of the patronage he enjoysObjective Show full explanation
Question 2The Customs and Excise Department is responsible for the collection ofA.royaltiesB.tariffsC.taxesD.chargesObjective Show full explanation
Question 3A shop which consists cf many stores trading under a single roof and which stocks varieties of gods with each unit having its own head is aA.multiple shopB.supermarketC.superstoreD.departmental storeObjective Show full explanation
Question 4In international trade, exchanging goods and services purchased instead of paying in foreign as A.counter-tradeB.balance of tradeC.balance of paymentsD.terms of tradeObjective Show full explanation
Question 5The role of a wholesaler in the channel of distribution is to A.produce goods in large quantities and sell in small quantitiesB.buy goods directly from the manufacturersC.buy goods in large quantities and sell in small quantitiesD.sell Goods directly to the consumersObjective Show full explanation
Question 6Foreign trade also involvesA.providing services for other countriesB.specialization and the exchange of goods in a countryC.buying and selling within a countryD.the exchange of goods and services between firmsObjective Show full explanation
Question 7Consumerism aims at protecting the consumer fromA.harmful productsB.drug addictionC.smoking cigarettesD.alcohol consumptionObjective Show full explanation
Question 8An objective of the farmers' association is toA.ensure that the prices of goods are fair and reasonableB.correct the imbalance between consumers and producersC.improve the method of selling and advertisingD.provide a stable market outlet for farm inputsObjective Show full explanation
Question 9The documents used in the purchase and sale at goods which contain other terms of trade areA.debit note and credit noteB.delivery note and advice notC.invoice and orderD.quotation and invoiceObjective Show full explanation
Question 10The major types of warehouses areA.manufacturer, bonded, departmental and privateB.bonded, public, cold-room and privateC.manufacturer, bonded, public and departmentalD.wholesaler, manufacturer, public and bondedObjective Show full explanation