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Swali 1 Ripoti
The major determinant of fire insurance premium is the
Maelezo ya Majibu
The major determinant of fire insurance premium is the type and structure of the property to be insured. Fire insurance premiums are calculated based on the risk of fire damage to the property, which is influenced by the type and structure of the property. Other factors that may be considered include the property's location, the amount of coverage needed, and the level of fire protection systems in place. The usefulness of the property to the owner, the owner of the property, and the extent of fire damage anticipated may not have as significant an impact on the fire insurance premium as the type and structure of the property.
Swali 2 Ripoti
The main advantage of a sole trader is the freedom to?
Maelezo ya Majibu
The main advantage of a sole trader is the freedom to take quick decisions.
Swali 3 Ripoti
The art of soap making is an example of
Maelezo ya Majibu
The art of soap making is an example of a secondary occupation.
Swali 4 Ripoti
The macro-environmental forces and trends which are a constraint on business operations are referred to as
Maelezo ya Majibu
The macro-environmental forces of a business are made up of economic factors, demographic forces, technological factors, natural and physical forces, political and legal forces, and social and cultural forces.
The economic factors may include costs such as wages, interest rates, governmental activity, laws, policies, and tax rates. It posed as a constraint to the business environment because it is beyond the control of the business.
Swali 5 Ripoti
The major objective of corporate mergers is to?
Maelezo ya Majibu
Corporate mergers can have multiple objectives, but generally, the primary objective of a corporate merger is to increase the financial advantage of the merged company. This can be achieved through various means, such as enhancing economies of scale, expanding the product or service offerings, increasing market share, reducing costs, and improving overall profitability. By combining the resources, expertise, and market reach of the merging companies, the merged entity can achieve greater financial strength, which can lead to increased profits and shareholder value. While minimizing the effects of taxation may be a consideration in some mergers, it is not typically the primary objective.
Swali 6 Ripoti
A proforma invoice is not required when
Maelezo ya Majibu
A proforma invoice is not required when dealing regularly with a customer.
Swali 7 Ripoti
The activities aimed at finding customers needs and satisfaction can be described as
Maelezo ya Majibu
The Marketing Concept or in this case, conceptual marketing involves the idea of satisfying the needs of the customer by means of the product as a solution to the customer's problem (needs).
Swali 8 Ripoti
An activity that involves derivation of raw materials from land and sea is
Maelezo ya Majibu
An activity that involves the derivation of raw materials from land and sea is extraction.
Swali 9 Ripoti
The type of communication from a superior to a subordinate in an organization is referred to as
Maelezo ya Majibu
The type of communication from a superior to a subordinate in an organization is referred to as "downward communication".
Swali 10 Ripoti
An agency contract must involve
Maelezo ya Majibu
An agency contract must involve a principal and an agent.
Swali 11 Ripoti
Departmentalization is an aspect of
Maelezo ya Majibu
Departmentalization is an aspect of organizing within the management functions. Organizing is concerned with defining the structure of the organization and arranging resources to achieve the objectives. Departmentalization involves grouping activities and people into departments based on similarity of functions or purpose. This allows for efficient allocation of resources, coordination, and communication within the organization.
Swali 12 Ripoti
A provision in the charter of a company which gives holders of common stock the first option to purchase additional issues of the firm's common stock is the
Maelezo ya Majibu
A provision in the charter of a company which gives holders of common stock the first option to purchase additional issues of the firm's common stock is called a pre-emptive right.
Swali 13 Ripoti
Hire purchase is advantageous to the seller in that
Maelezo ya Majibu
To the seller, a hire purchase would mean more people who are unable to pay for a product in full being able to get access to the product while paying on installment. A hire purchase benefits the seller in the sense that the level of patronage increases as more people will be willing to buy and pay in bits for a specified period of time.
Swali 14 Ripoti
A form of money that has gone out of use is
Maelezo ya Majibu
A form of money that has gone out of use is commodity money.
Swali 15 Ripoti
Which of the following countries are members of the Lake Chad Basin Commission?
Maelezo ya Majibu
Niger, Cameroon, Chad, Nigeria, and Benin are all members of the Lake Chad Basin Commission.
Swali 16 Ripoti
A person who buys new issues with a view of reselling at a higher price in the near future is referred to as a
Maelezo ya Majibu
A bull market is the condition of a financial market in which prices are rising or are expected to rise. A trader in the stock exchange market who buys stocks with the hope of selling them at a higher price is called a bull.
Swali 17 Ripoti
The main objective of a trade association is to
Maelezo ya Majibu
No official explanation is available for this question at this time. Please check contributions posted by others below. If you can provide an explanation to help other student learn,
Swali 18 Ripoti
Which of the following has power to order withdrawal of a particular food item from circulation?
Maelezo ya Majibu
The Standard Organisation of Nigeria (SON) is a statutory body that is created by the Nigerian government and tasked with the responsibility of standardizing and regulating the quality of all products in Nigeria. It means, the body carries out quality checks on all consumer products and those that do not pass the quality test are withdrawn from circulation.
Swali 19 Ripoti
A distinctive advantage of GSM is its
Maelezo ya Majibu
A distinctive advantage of GSM (Global System for Mobile Communications) is its mobility, which allows users to make and receive calls from anywhere in the world where there is network coverage.
Swali 20 Ripoti
| NAME | INSURED AMOUNT(₦) |
ACTUAL VALUE(₦) |
ACTUAL LOSS(₦) |
| Mr. P Mr. K Mr. R |
25,000 30,000 40,000 |
100,000 120,000 150,000 |
30,000 40,000 50,000 |
What insurance principle has Mr. R violated if he decides to overstate the actual value of his property?
Maelezo ya Majibu
The insurance principle that Mr. R violated if he decides to overstate the actual value of his property is the principle of "Uberrimae fidei" which means "Utmost Good Faith". This principle requires the insured to provide all material information regarding the insurance contract, including the true value of the property, to the insurer. By overestimating the actual value of his property, Mr. R is not providing accurate information to the insurer, which is a violation of the principle of utmost good faith.
Swali 21 Ripoti
Use the information below to answer this question
? |
? |
What is the capital employed?
Maelezo ya Majibu
No official explanation is available for this question at this time. Please check contributions posted by others below. If you can provide an explanation to help other student learn
Swali 22 Ripoti
The function of a merchant wholesaler is to
Maelezo ya Majibu
A merchant wholesaler is an institution that buys goods from manufacturers and resells them to businesses, government agencies, other wholesalers, or retailers. All merchant wholesalers take title to the goods they sell.
Swali 23 Ripoti
The excess of the assets over the liabilities of a business is called
Maelezo ya Majibu
The excess of the assets over the liabilities of a business is called "net worth."
Swali 24 Ripoti
A person who in consideration for an extra commission takes responsibility for goods sold on credit and in case of default is a
Maelezo ya Majibu
A person who in consideration for an extra commission takes responsibility for goods sold on credit and in case of default is a del credere agent.
Swali 25 Ripoti
The primary memory component of a computer is the
Maelezo ya Majibu
The primary memory component of a computer is the RAM (Random Access Memory).
Swali 26 Ripoti
Chibuzor agreed to make a dress for Hauwa with September 20, 1995 as the delivery date, if the dress was not ready on that date, Hauwa could
Maelezo ya Majibu
In the law of contract, specific performance is the act whereby a court issues an order requiring a party to perform a specific action, such as to complete the performance of the contract.
Hauwa could easily sue Chibuzor for not keeping her own end of the agreement and compel her to deliver the dress as promised.
Swali 27 Ripoti
The payment made periodically in respect of an insurance policy entered into is known as
Maelezo ya Majibu
The payment made periodically in respect of an insurance policy entered into is known as a premium.
Swali 28 Ripoti
Communication process involves the transmission of a message over a selected channel to the
Maelezo ya Majibu
The communication process involves the transmission of a message from a sender to a receiver over a selected channel.
Swali 29 Ripoti
Inbound tourism occurs when
Maelezo ya Majibu
Inbound tourism is the act of someone traveling to a country other than that where they live for the purpose of tourism.
Swali 30 Ripoti
The instruments of credit include
Maelezo ya Majibu
The instruments of credit include bills of exchange and promissory notes.
Swali 31 Ripoti
When two or more companies agree to execute a project too large for one to handle, this is referred to as
Maelezo ya Majibu
A consortium is when two or more companies agree to execute a project too large for one to handle.
Swali 32 Ripoti
Given:
I. Retail
II. Export
III. Transport
IV. Import
V. Insurance
VI. Banking and finance
VII. Wholesale
VIII. Communication.
Which of the above are aids to trade?
Maelezo ya Majibu
Aids to trade are those services that make it easy to carry out trade. They include insurance, advertising, warehousing, transportation, and banking services.
Swali 33 Ripoti
The best mode of ensuring that items posted get to the named addresses is through
Maelezo ya Majibu
The best mode of ensuring that items posted get to the named addresses is through registered mail. Registered mail provides a higher level of security and tracking than regular mail or other delivery options. When you send an item via registered mail, it is given a unique identification number that allows you to track it from the time it leaves your hands until it is delivered to the recipient. Additionally, registered mail usually requires a signature upon delivery, which provides an extra layer of confirmation that the item was received by the intended recipient. This makes registered mail a reliable option for sending important or valuable items, or items that require proof of delivery.
Swali 34 Ripoti
Services rendered to the public is provided by
Maelezo ya Majibu
A civil servant, also known as a public servant, is a person employed by a government department, ministry, or agency for public sector services
Swali 35 Ripoti
| NAME | INSURED AMOUNT(N) |
ACTUAL VALUE(N) |
ACTUAL LOSS(N) |
| Mr. P Mr. K Mr. R |
25,000 30,000 40,000 |
100,000 120,000 150,000 |
30,000 40,000 50,000 |
Use the table above to answer questions 27 and 28
If Mr. P takes a fire insurance policy with average clause, his compensation will be
Maelezo ya Majibu
Under an average clause in insurance, if the value of the insured property is less than the insured amount, the policyholder will only receive a proportional compensation based on the actual value of the property. For Mr. P, the insured amount is N25,000 and the actual value is N100,000. So, the compensation will be (N25,000 / N100,000) * N30,000 = N7,500.
Swali 36 Ripoti
The principle of span of control stipulates that?
Maelezo ya Majibu
The principle of span of control stipulates that the number of employees reporting to one superior should be kept to a workable maximum.
Swali 37 Ripoti
The transmission of the telephone services from one country to another is facilitated by
Maelezo ya Majibu
A communication satellite creates a communication channel between a source transmitter and a receiver at different locations on Earth. It is the technology behind the transmission of telephone services that are put across various parts of the world.
It relays and amplifies radio telecommunication signals via a transponder
Swali 38 Ripoti
Use the information below to answer this question
A B C Balance Sheet as at 31/12/2004
? |
? |
The total sum of financing short term projects is
Maelezo ya Majibu
No official explanation is available for this question at this time. Please check contributions posted by others below. If you can provide an explanation to help other student learn
Swali 39 Ripoti
The conversion of raw materials into finished products creates
Maelezo ya Majibu
The conversion of raw materials into finished products creates form utility. Form utility is the value added to a product or service by transforming raw materials into finished goods or services that meet customer needs and preferences. It is one of the four types of utility in marketing, the others being time utility, place utility, and possession utility.
Swali 40 Ripoti
A form of money with face value which is greater than the value of the metal contents is
Maelezo ya Majibu
A form of money with a face value that is greater than the value of the metal content is called token money.
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