Question 1A businessman who undertakes the hull insurance policy is aiming at A.covering losses on damages to the cargoB.protecting injured crew in the shipC.averting payment of the freightD.covering damages to the body of the shipObjective Show full explanation
Question 2A company that is registered with the Corporate Affairs Commission only without being enlisted on the Stock Exchange is a A.public liability companyB.joint ventureC.limited companyD.registered companyObjective Show full explanation
Question 3A contract for the sales of goods involved the A.producer, the sellers and the buyers of the goodsB.offering of goods to customersC.transfer of title to goods for moneyD.exchange of goodsObjective Show full explanation
Question 4A core investor in the current phase of privatization in Nigeria is one who A.can afford to buy most of the shares of the enterprisesB.will be at the core of the enterprisesC.can mobilize foreign currency equivalent to the value of the enterprisesD.has the technical know-how of the enterprisesObjective Show full explanation
Question 5A crossed cheque with the inscription 'not negotiable' must be paid into the A.current account of the drawerB.current account of the payeeC.savings account of the payeeD.fixed account of the payeeObjective Show full explanation
Question 6A distinguishing characteristic of a limited liability company is: A.It is a collection of many sole proprietorsB.It is a multiple partnershipC.It can sue and be suedD.It has limited resourcesObjective Show full explanation
Question 7A doctor who attends to patients at home after his official duty is A.A community development workerB.a direct service workerC.an indirect service workerD.a direct and an indirect service workerObjective Show full explanation
Question 8A document sent by a seller to inform a buyer about the prices of goods is the A.catalogueB.price listC.credit noteD.pro forma invoiceObjective Show full explanation
Question 9A floating policy is an example of A.Marine insurance.B.Actuaries insurance.C.Motor insurance.D.Fire insuranceObjective Show full explanation
Question 10A function generally performed by authorities of both the air and seaports is the A.maintenance of warehouses where goods can be storedB.provision of facilities for loading and unloading of cargoesC.maintenance of security and order at the portsD.provision of facilities for landing and refueling the portsObjective Show full explanation
Question 11A group of companies is a collection of A.subsidiaries and their holding companyB.firmsC.associates and their holding companyD.industriesObjective Show full explanation
Question 12A machine which enables sales without the physical presence of a sales' attendants is a A.computer machineB.vending machineC.telex machineD.Fax machine. Objective Show full explanation
Question 13A major disadvantage of the privatization policy is that the A.economy would be private sector-ledB.citizen would benefit less from government.C.more money would be brought into circulationD.government would lose control of the economyObjective Show full explanation
Question 14A major factor hindering effective communication process is A.climatic conditionB.social unrestC.distanceD.noiseObjective Show full explanation
Question 15A major function of a chamber of commerce is A.increasing productivityB.promoting both home and foreign tradeC.promoting trade in a particular lineD.maximizing profitObjective Show full explanation
Question 16A major hindrance to tourism growth in Nigeria is A.absence of genuine tour operatorsB.lack of tourism master planC.inadequate tourist centresD.non-compliance to immigration lawsObjective Show full explanation
Question 17A pre-requisite for admission into the second-tier securities market is for a company to make A.make 20% of its equity share available to the public for subscriptionB.have a minimum of 100 shareholdersC.have a maximum of 100 shareholders.D.make 10% of its equity share available to the public for subscriptionObjective Show full explanation
Question 18A printed copy of processed information from the computer is the A.soft copyB.file copyC.scanned copyD.hard copyObjective Show full explanation
Question 19A pro forma invoice is NOT required when; A.Quoting for the supply of goodsB.Goods are sent on approvalC.Dealing regularly with a customerD.Final prices are uncertainObjective Show full explanation
Question 20A provision in the charter of a company which gives holders of common stock option to purchase additional issues of firm's common stock is the A.Pre-emptive rightB.shareholders rightC.Ex- dividend right.D.Over subscription rightObjective Show full explanation
Question 21A public company with an authorized capital of N60,000, issued 36,000 shares at 150k each. What is its capital? A.N60,000B.N36,000C.N54,000D.N90,000Objective Show full explanation
Question 22A step-by-step method of carrying out functions in an office is known as A.procedureB.organizingC.policyD.programmeObjective Show full explanation
Question 23An acquired firm in a merger will receive a; A.PremiumB.grantC.shareD.discountObjective Show full explanation
Question 24An association to which all chambers of Commerce in Nigeria are affiliated is the A.Nigeria Labor CongressB.National Association of Chambers of Commerce, Industry, Mines and AgricultureC.Nigeria Association of Chambers of Commerce, Industry, Mines and AgricultureD.Nigeria Stock ExchangeObjective Show full explanation