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Question 2 Report
The different types of occupation in which people are engaged can be grouped as
Question 3 Report
A business activity that directs the flow of goods and services from the producer to the consumer is called
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Question 4 Report
A businessman started with N100,000 and spent N80,000 in buying premises and equipment. The balance of N20,000 is his
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Question 5 Report
Which insurance principle indicates that only the person who might suffer financial loss will be allowed to take out insurance?
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Question 6 Report
Grouping consumers based on their purchasing habits is called market
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Question 9 Report
Reorganization of public enterprises to run as profit-making ventures is called
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Question 10 Report
The factor of production which involves both the mental and physical effort of man is called
Question 11 Report
A bank overdraft can only be granted to the holder of a
Question 12 Report
Another name for exchange of goods or other goods is called
Question 13 Report
Assets of a business which can easily be changed into cash are called
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Question 14 Report
A document which must be prepared and produced by the promoters of a company and contains ‘external rules’ is called
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Question 15 Report
The document usually sent to each customer by the bank periodically showing the balance outstanding in an account is known as
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Question 16 Report
The greatest weapon of the buyer against the activities of false advertisers is
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Question 18 Report
A statement of the current price and terms of trade of a product or service is called
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Question 20 Report
What covers the risk which an employer may suffer as a result of the dishonesty of an employee?
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Question 21 Report
The best definition of Communication in Commerce is
Question 23 Report
Assets of a business which can easily be changed into cash are called
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Question 24 Report
What is a voluntary association of business executives, tradesmen, or entrepreneurs?
Question 25 Report
A common legal association which exists when one party, known as the principal authorizes another party to enter into contract is called
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Question 26 Report
Which is NOT the right of the consumer according to the Consumer Education and Protection Council? The right to
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Question 27 Report
Gases are best transported by
Question 29 Report
The fastest and most accurate means of passing information is
Question 30 Report
ln the selection of means of transport, speed is an important consideration for goods that are
Question 32 Report
Who has no right of ownership to a business organization?
Question 33 Report
The process by which the government takes over private business is known as
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Question 34 Report
What is the fastest means of sending documents from one place to another
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Question 35 Report
The compensation made to an insured for loss incurred in insurance is called
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Question 37 Report
Goods that are not useful by themselves, but help in the production of other desired goods are called ....... goods.
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Question 38 Report
Abubakar wants to sell his shares on the Kano Stock Exchange. Which service would he employ?
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Question 39 Report
When one party to a contract refuses to perform the obligations assumed under the contract, there is
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Question 40 Report
What is defined as an agreement to pay an initial deposit for an object and then pay the balance in regular instalments while having the use of the object”?
Question 41 Report
A situation where a consumer's need is the focus of attention is regarded as
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Question 46 Report
The reputation and good image benefits arising from the business connections of a firm are called
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Question 47 Report
Goods invoiced at N5,000.00 were sold to Adegoke at less 2½% trade discount. How much would he pay
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Question 48 Report
The main reason for Government ownership of a public enterprise is to provide
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