Question 1A group of companies is a collection of A.subsidiaries and their holding companyB.firmsC.associates and their holding companyD.industriesObjective Show full explanation
Question 2A 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 3A 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 4A major factor hindering effective communication process is A.climatic conditionB.social unrestC.distanceD.noiseObjective Show full explanation
Question 5A 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 6The most essential element of a product is the A.PriceB.UtilityC.DesignD.ColourObjective Show full explanation
Question 7The most important benefit of insurance is that it provides A.control over activitiesB.the insured with a right to premiumC.the insured with a right to full compensationD.protection against risksObjective Show full explanation
Question 8The most important difference between community banks and people's bank is that the A.Latter is owned solely by government while the former are notB.Former cater for rural dwellers while the latter caters for both rural and urban dwellers.C.Former are services oriented while the latter is profit orientedD.Latter advance loans to the public while the former advance loans to rural dwellers onlyObjective Show full explanation
Question 9The most important factor that delayed the developments of Commerce in Nigeria was A.the inefficient means of communicationB.that there were few entrepreneursC.the unavailability of infrastructural facilitiesD.that there were few developed marketsObjective Show full explanation
Question 10The necessary documents used in foreign trade are. A.bill of lading invoice and letter of inquiryB.indent bill of exchange, bill of lading and invoiceC.invoice, shipping note, bill of lading and freight noteD.shipping note, certificate of origin and visible exportsObjective Show full explanation
Question 11The central focus of commercial activities is; A.PricingB.advertisingC.tradingD.marketingObjective Show full explanation
Question 12The comparison of a country's visible and invisible exports and imports expressed in monetary term is A.balance of paymentB.terms of tradeC.balance of tradeD.terms of paymentObjective Show full explanation
Question 13The details of the goods required by the purchaser is outlined in A.a consular invoiceB.an indentC.an invoiceD.a certificate of originObjective Show full explanation
Question 14The difference between trademark and patent right is that the latter A.gives exclusive right to import a particular goodB.is conferred by the governmentC.confers monopoly on a productD.confers exclusive right to publish literary worksObjective Show full explanation
Question 15The distribution and exchange of goods and services for the satisfaction of wants is the concern of A.ProductionB.UtilityC.CommerceD.IndustryObjective Show full explanation
Question 16If a firm's turnover is 15,000 and the cost of goods sold is 10,000, what is the percentage of gross profit on sales? A.23.3%B.33.3%C.50.0%D.66.6%Objective Show full explanation
Question 17In a common market, member countries agree basically to A.Place bans on other countries' productB.wages war against countries productsC.establish common barriers against countries outside the marketD.Negotiate with outside the market for favorable terms of tradeObjective Show full explanation
Question 18In CIF, contracts risk passes at the time of shipment but the property does not pass until; A.there is physical transfer of goodsB.the shipping manifests are signedC.the shipping documents are transferredD.the goods on the board are deliveredObjective Show full explanation
Question 19In product pricing, which of these elements needs more consideration than others? A.The demand for the productB.The demography of the buyers of the productC.The economic conditions in the marketsD.The cost of producing the productObjective Show full explanation
Question 20In the long run, all factors of production are; A.FixedB.variableC.marginalD.constantObjective Show full explanation
Question 21A 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 22A 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 23A printed copy of processed information from the computer is the A.soft copyB.file copyC.scanned copyD.hard copyObjective Show full explanation
Question 24A 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 25A 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