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Question 1 Rapport
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 2 Rapport
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 4 Rapport
What is the fastest means of sending documents from one place to another
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Question 5 Rapport
The main reason for Government ownership of a public enterprise is to provide
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Question 6 Rapport
Which is the banker of all commercial banks in the country?
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Question 7 Rapport
What covers the risk which an employer may suffer as a result of the dishonesty of an employee?
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Question 8 Rapport
The compensation made to an insured for loss incurred in insurance is called
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Question 10 Rapport
Goods that are not useful by themselves, but help in the production of other desired goods are called ....... goods.
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Question 12 Rapport
The factor of production which involves both the mental and physical effort of man is called
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Question 13 Rapport
The different types of occupation in which people are engaged can be grouped as
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Question 16 Rapport
ln the selection of means of transport, speed is an important consideration for goods that are
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Question 17 Rapport
The fastest and most accurate means of passing information is
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Question 18 Rapport
Which is NOT the right of the consumer according to the Consumer Education and Protection Council? The right to
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Question 20 Rapport
Assets of a business which can easily be changed into cash are called
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Question 24 Rapport
When one party to a contract refuses to perform the obligations assumed under the contract, there is
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Question 25 Rapport
Assets of a business which can easily be changed into cash are called
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Question 27 Rapport
A situation where a consumer's need is the focus of attention is regarded as
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Question 28 Rapport
What is a voluntary association of business executives, tradesmen, or entrepreneurs?
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Question 29 Rapport
An already existing line of product is advertised in order to
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Question 30 Rapport
A statement of the current price and terms of trade of a product or service is called
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Question 31 Rapport
Reorganization of public enterprises to run as profit-making ventures is called
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Question 33 Rapport
The reputation and good image benefits arising from the business connections of a firm are called
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Question 34 Rapport
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 36 Rapport
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 38 Rapport
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”?
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Question 39 Rapport
A business activity that directs the flow of goods and services from the producer to the consumer is called
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Question 40 Rapport
The greatest weapon of the buyer against the activities of false advertisers is
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Question 41 Rapport
Which document is used to advertise shares to the general public?
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Question 42 Rapport
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 43 Rapport
The process by which the government takes over private business is known as
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Question 44 Rapport
Abubakar wants to sell his shares on the Kano Stock Exchange. Which service would he employ?
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Question 45 Rapport
Grouping consumers based on their purchasing habits is called market
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Question 46 Rapport
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 47 Rapport
Another name for exchange of goods or other goods is called
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