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Question 1 Rapport
The different types of occupation in which people are engaged can be grouped as
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Question 2 Rapport
A statement of the current price and terms of trade of a product or service is called
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Question 3 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 4 Rapport
The reputation and good image benefits arising from the business connections of a firm are called
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Question 6 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 7 Rapport
ln the selection of means of transport, speed is an important consideration for goods that are
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Question 8 Rapport
What covers the risk which an employer may suffer as a result of the dishonesty of an employee?
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Question 9 Rapport
Which document is used to advertise shares to the general public?
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Question 10 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 11 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 14 Rapport
Another name for exchange of goods or other goods is called
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Question 16 Rapport
The fastest and most accurate means of passing information is
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Question 18 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 19 Rapport
Grouping consumers based on their purchasing habits is called market
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Question 20 Rapport
The process by which the government takes over private business is known as
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Question 21 Rapport
What is the fastest means of sending documents from one place to another
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Question 22 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 23 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 24 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 26 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 28 Rapport
Reorganization of public enterprises to run as profit-making ventures is called
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Question 30 Rapport
The compensation made to an insured for loss incurred in insurance is called
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Question 31 Rapport
Which is the banker of all commercial banks in the country?
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Question 32 Rapport
A situation where a consumer's need is the focus of attention is regarded as
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Question 34 Rapport
Assets of a business which can easily be changed into cash are called
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Question 36 Rapport
An already existing line of product is advertised in order to
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Question 38 Rapport
What is a voluntary association of business executives, tradesmen, or entrepreneurs?
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Question 41 Rapport
When one party to a contract refuses to perform the obligations assumed under the contract, there is
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Question 44 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 45 Rapport
Abubakar wants to sell his shares on the Kano Stock Exchange. Which service would he employ?
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Question 46 Rapport
The factor of production which involves both the mental and physical effort of man is called
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Question 48 Rapport
The greatest weapon of the buyer against the activities of false advertisers is
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Question 49 Rapport
Assets of a business which can easily be changed into cash are called
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Question 50 Rapport
The main reason for Government ownership of a public enterprise is to provide
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