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Ibeere 1 Ìròyìn
The breaking down of work into different processes is known as
Awọn alaye Idahun
The breaking down of work into different processes is known as division of labour. This concept involves splitting a job into a series of smaller tasks, with each task assigned to a different worker or group of workers. By doing this, each worker can focus on what they do best, increasing their efficiency and productivity in that particular task.
Here's a simple way to understand it: Imagine a bakery that makes loaves of bread. Instead of one person doing everything from mixing the ingredients, kneading the dough, baking, and packaging, the work is divided among several people. One person may be responsible for mixing the ingredients, while another focuses on kneading the dough, yet another bakes it, and a final person packages the bread. This makes the entire process faster and more efficient, as each worker becomes proficient in their specific task.
The division of labour allows for a more effective use of skills and resources, leading to higher productivity and often resulting in goods being produced more quickly and for less cost.
Ibeere 2 Ìròyìn
Awọn alaye Idahun
The relationship between a country's visible imports and exports in a trading year is known as the balance of trade.
To understand this concept, think of it as a way to measure how much a country is buying from other countries (imports) compared to how much it is selling to other countries (exports). When we talk about "visible" imports and exports, we refer to tangible goods like cars, food products, electronics, etc., that you can see, touch, and feel.
The balance of trade is essentially the difference in value between a country's visible exports and visible imports. If a country exports more than it imports, it has a trade surplus. Conversely, if it imports more than it exports, it has a trade deficit.
This concept is crucial because it gives insights into a country's economic health. A trade surplus might indicate a strong economy, whereas a trade deficit might suggest dependency on other nations for goods.
In summary, the balance of trade helps us understand the economic relationship between a country and its trading partners by showing whether the country has a surplus or deficit in its visible goods trade. Other terms like counter trade, international trade, and balance of payment have different meanings in economics and should not be confused with the balance of trade.
Ibeere 3 Ìròyìn
Awọn alaye Idahun
The term "caveat emptor" is a Latin phrase which translates to "let the buyer beware." This principle is used primarily in property transactions and essentially means that the buyer assumes the risk of the quality and condition of the item purchased, unless it is covered by a warranty. In simple terms, it emphasizes the responsibility of the purchaser to examine and evaluate what they are buying. It is a warning that the buyer should be cautious and perform any necessary due diligence prior to completing a transaction. Sellers are not obligated to volunteer details about the products or properties they sell unless asked by the buyer or required by law.
Ibeere 4 Ìròyìn
Which of the following is NOT part of Pre-Sales Service/ice?
Awọn alaye Idahun
Pre-sales services are the activities and support provided to potential buyers before the actual sale takes place. These services aim to assist customers in making informed purchasing decisions and to facilitate a smooth sales process. They typically include activities such as providing information about the products, answering inquiries, and assisting with product selection. However, granting credit or hire purchase sales facilities is not typically considered a pre-sales service.
Ibeere 5 Ìròyìn
Awọn alaye Idahun
In an organization, welfare services are those that aim to improve the well-being and satisfaction of employees, providing them with a supportive and healthy working environment. Welfare services often include amenities or benefits that contribute directly to employees' health, happiness, and overall work-life balance.
Let's examine each option:
Considering the above definitions, training is NOT typically regarded as a welfare service in an organization. Unlike the other options, which focus on employee well-being, training emphasizes enhancing performance and skill sets to benefit organizational goals.
Ibeere 6 Ìròyìn
Awọn alaye Idahun
In the event of winding up, a company's assets are used to settle its debts and obligations in a specific order of priority. Understanding who gets paid last among the given options involves recognizing the hierarchy of claims. Here's a comprehensive explanation:
1. Debenture holders: Debenture holders are considered creditors of the company. They have a debt claim on the assets of the company. As creditors, debenture holders are paid before any shareholders.
2. Preference Shareholders: Preference shareholders have preferential rights over the assets of the company compared to ordinary shareholders during liquidation. This means they are paid before ordinary shareholders but after all creditors, including debenture holders.
3. Cumulative Preference Shareholders: Similar to preference shareholders, cumulative preference shareholders also have preferential rights over ordinary shareholders. Furthermore, if any preference dividend was missed in previous years, cumulative preference shareholders have the right to receive these unpaid dividends before ordinary shareholders are paid.
4. Ordinary Shareholders: Ordinary shareholders are the last to receive anything from the distribution of a company's assets. This is because they are the owners of the company and bear the most risk. If any assets remain after all debts, liabilities, and preferential claims are settled, this residual is distributed among ordinary shareholders.
In conclusion, **ordinary shareholders** are paid last in the event of a company's winding up. This hierarchy reflects the risk-reward principle where ordinary shareholders take the highest risk but also have the potential for the highest reward if the company performs well.
Ibeere 7 Ìròyìn
Which of the following does a seller send in reply to a letter of inquiry?
Awọn alaye Idahun
When a potential buyer sends a seller a **letter of inquiry**, they are typically asking for information regarding the availability, price, and terms of products or services. In reply to this inquiry, a seller typically sends a **quotation**.
Here is why a **quotation** is the appropriate response:
In conclusion, a seller sends a quotation in response to a letter of inquiry because it addresses the buyer's questions about pricing and other terms related to potential products or services they might purchase.
Ibeere 8 Ìròyìn
One of the following does NOT fit into the group.
Awọn alaye Idahun
In order to determine which of the options does not fit into the group, we should first classify each of them based on their primary nature or sector.
Agriculture involves the cultivation of land and breeding of plants and animals to provide food, fiber, and other products used to sustain and enhance life. It primarily falls under the category of primary industry that deals with the extraction and harnessing of natural resources directly from nature.
Fishing also involves extracting biological resources directly from nature, specifically aquatic life from water bodies. Like agriculture, it is categorized under primary industry and focuses on the direct procurement of resources provided by nature.
Mining is the extraction of minerals or other geological materials from the Earth, and it is considered a part of primary industry as well. It involves the direct extraction of non-renewable resources from nature.
Carpentry, on the other hand, is a skilled trade in which the primary work performed is the cutting, shaping, and installation of building materials during the construction of buildings, ships, timber bridges, etc. Carpentry is considered a part of the secondary industry, which involves manufacturing and processing of raw materials into finished goods or products.
Therefore, Carpentry does not fit into the group because, unlike agriculture, fishing, and mining, it is not a primary industry activity. It belongs to the secondary industry, which focuses on the transformation of raw materials into finished products.
Ibeere 9 Ìròyìn
Branding is the assigning of trade marks to goods for the purpose of......... by the public.
Awọn alaye Idahun
Branding is the assigning of trademarks to goods for the purpose of identification by the public. This means that branding helps consumers easily recognize and differentiate a particular product from other similar products in the market. Trademarks can be logos, symbols, names, or a combination of these elements that represent a brand. By having a unique and consistent brand identity, companies ensure that their products are easily identifiable by consumers, facilitating customer trust and loyalty. In essence, branding provides a way for the public to identify and remember the products of a specific manufacturer or company.
Ibeere 10 Ìròyìn
A person who runs a business on his own account is called a
Awọn alaye Idahun
A person who runs a business on his own account is called a sole trader. This term refers to an individual who owns and operates their business independently, without forming a company or corporation. They are solely responsible for all aspects of the business, including decision-making, profits, and losses.
Here's a simple way to understand this:
Sole: This means "one" or "single," indicating that there is only one person in charge.
Trader: This refers to someone who engages in selling goods or providing services.
Therefore, a sole trader is someone who runs their business independently and takes full responsibility for its operation. They do not have partners or additional directors in the business.
Ibeere 11 Ìròyìn
A typical example of an event covered by an Assurance Policy is
Awọn alaye Idahun
An event that is typically covered by an Assurance Policy is death.
Assurance policies are often referred to as life assurance or life insurance. The primary purpose of these policies is to provide a financial safety net for beneficiaries in the event of the policyholder's death.
Life assurance is considered a form of long-term coverage that guarantees a payout when the insured person passes away, as long as the premiums have been paid consistently. This type of policy is different from insurance policies that cover specific events, like accidents or burglary, which are often provided as short-term risk coverages.
Therefore, **death** is the typical event covered by an assurance policy because the primary intent of such policies is to ensure that financial obligations can be met and dependents are taken care of after the policyholder's death.
Ibeere 12 Ìròyìn
Which of the following services is NOT rendered by NITEL?
Awọn alaye Idahun
The service that is NOT rendered by NITEL is Recorded Delivery.
Explanation:
NITEL, which stands for Nigerian Telecommunications Limited, was mainly involved in providing telecommunications services in Nigeria. Its core services included:
On the other hand, Recorded Delivery is a service typically offered by postal services, not telecommunication companies. It involves sending mail with proof of mailing and, sometimes, delivery confirmation. This ensures that mailed items are tracked and delivered securely.
Ibeere 13 Ìròyìn
Which of the following warehouse is generally found near a port?
Awọn alaye Idahun
Warehouses that are generally found near a port are known as bonded warehouses.
Bonded warehouses are storage facilities where imported goods are stored until the customs duties are paid.
Key reasons for their location near a port include:
Therefore, locating these warehouses near ports helps streamline international trade processes and enhances logistics efficiency.
Ibeere 14 Ìròyìn
An instruction to an agent abroad restricting him to buy from a named manufacturer is known as
Awọn alaye Idahun
The instruction given to an agent abroad restricting him to buy from a specific or named manufacturer is known as a closed indent.
Let me explain it in a straightforward way:
1. **Indent:** This is a purchase order sent by a buyer to an agent or supplier to buy goods on their behalf. It contains details about the product, quantity, and specifications.
2. **Closed Indent:** This type of indent indicates that the buyer has decided to purchase products from a particular, specified manufacturer or supplier. The agent must comply with this restriction while procuring the goods. The buyer has already made a choice, and the agent is simply carrying out their instructions.
In contrast, an **open indent** allows the agent to choose the manufacturer or supplier from whom to buy the goods, as long as the buyer’s requirements are met. So, the key difference is the level of freedom or restriction given to the agent in selecting the supplier.
Ibeere 15 Ìròyìn
The functions of public corporations include the following EXCEPT
Awọn alaye Idahun
Public corporations are established primarily to serve the interests of society, offering critical services and contributing to the economic well-being of the community. Let's explore the functions mentioned:
In conclusion, the function that does not align with the objectives of public corporations is maximizing profits for the board members. These entities prioritize public service over profit maximization.
Ibeere 16 Ìròyìn
The body charged with the responsibility monitoring the quality of goods supplied is the
Awọn alaye Idahun
The body responsible for monitoring the quality of goods supplied is the Nigerian Standards Organization. This organization, also known as the Standards Organization of Nigeria (SON), is charged with setting and ensuring compliance with product quality standards for goods in the country. Their primary role is to develop and implement standards that help safeguard both consumers and the environment by ensuring that products are safe, reliable, and of good quality.
The SON conducts inspections, tests, and other evaluative measures on products to ascertain their quality. Additionally, they educate manufacturers and stakeholders about necessary standards and oversee adherence to these standards in production and distribution processes. Through these activities, the organization aims to protect consumers from harm, fraudulent practices, and low-quality products, while also enhancing the competitiveness of Nigerian goods both locally and internationally.
Ibeere 17 Ìròyìn
The aid to trade which enables producer and consumer to transact business without physical contact is known as
Awọn alaye Idahun
The aid to trade that enables a producer and consumer to transact business without physical contact is known as communication.
To understand why, consider the following: Communication is a process that involves the exchange of messages, ideas, and information. With modern technology, such as telephones, emails, and the internet, communication allows people from various locations to interact and conduct business seamlessly. This eliminates the necessity for face-to-face meetings.
For example, a consumer can order a product online and communicate with the seller via chat or email. Similarly, a producer can advertise a product to a global audience through digital platforms without any need for physical presence. These exchanges are facilitated primarily by effective communication.
Ibeere 18 Ìròyìn
A wholesaler who acts as an agent on behalf of the owner of the goods in buying or selling for a commission proportionate to the value of the transaction is called a
Awọn alaye Idahun
In the context of trade and commerce, a wholesaler who acts on behalf of the owner of goods in buying or selling, and receives a commission based on the value of the transaction, is typically referred to as a factor.
Here's why:
A factor is a type of agent who is enthusiastically involved in the buying and selling process of goods. This role often involves taking possession of the merchandise, managing the sales, and sometimes providing advance payment to the owner. For these efforts, the factor earns a commission proportionate to the transaction value.
Factors differ from some other types of agents in that they often have more responsibilities, including the power to sell goods in their own name, collect proceeds from buyers, and handle various logistical aspects of the sale.
In contrast:
- A commissioned agent might not necessarily take possession of the goods or manage the detailed logistical aspects of sales.
- A del-credere agent provides a guarantee to the principal that the buyer will perform as agreed, essentially assuming responsibility for any buyer defaults, but this does not inherently describe their primary role in the wholesale process.
- A speculator doesn't fulfill an agency role for the owner of goods but rather buys goods directly to sell at a profit, often taking on significant risk in the hope of financial gain.
Therefore, in the scenario you provided, the term most accurately describing the wholesaler's role as an agent working for a commission based on the transaction value is a factor.
Ibeere 19 Ìròyìn
One of the easiest means of transporting petroleum product is by
Awọn alaye Idahun
Pipelines are one of the easiest and most efficient means of transporting petroleum products. Here is why:
1. Continuous Flow: Pipelines allow for a constant and uninterrupted flow of petroleum products from one location to another. This continuity ensures a steady supply and minimizes delays that can occur with other modes of transportation.
2. Cost-Efficient: Over long distances, pipelines are generally more cost-effective than other transportation methods. This is due to lower operating costs and the ability to transport large volumes of product with minimal energy input once the infrastructure is in place.
3. Safety: Pipelines are considered to be a safer option for transporting petroleum products compared to road or rail. They reduce the likelihood of accidents or spills that can occur with vehicles or trains, making them a preferred choice for minimizing environmental impact.
4. Reliability: Unlike air or road transport, pipelines are less affected by weather conditions, traffic, or other disruptions, which makes them a reliable choice for consistent delivery schedules.
5. Low Environmental Impact: While the construction of pipelines can initially impact the environment, their operation creates fewer emissions compared to repeated vehicle trips. This makes pipelines a more environmentally friendly option in the long term.
Overall, due to these advantages, pipelines are often the preferred method for transporting large volumes of petroleum products over long distances in a safe, cost-effective, and reliable manner.
Ibeere 20 Ìròyìn
When the price quoted includes all the cost to the actual destination, that is, from the seller's warehouse to the buyer's warehouse. it is called
Awọn alaye Idahun
When the price quoted includes all the costs from the seller's warehouse to the buyer's warehouse, it is referred to as "Franco".
In the context of goods transportation and sales, "Franco" means that the seller is responsible for all the costs associated with delivering the goods to the buyer's specified location. This includes packaging, loading, transportation, and unloading costs. Basically, the buyer does not have to worry about any extra charges that might occur while the goods are being transported. The seller takes care of everything until the goods reach the buyer's destination.
In contrast, terms like "Loco price" and "Carriage paid" have different conditions regarding the division of responsibilities and costs between the buyer and seller. For instance, "Loco price" typically involves the buyer bearing the cost of picking up the goods from the seller's location, while "Carriage paid" implies that the seller pays the carriage charges up to a certain point.
Overall, "Franco" provides a convenient option for buyers who prefer not to handle the logistics of moving goods from the seller to their final destination.
Ibeere 21 Ìròyìn
The documents sent by the suppliers of good to a prospective buyer, informing him of what to pay if he buys the good is
Awọn alaye Idahun
The document sent by suppliers of goods to a prospective buyer, informing him of what to pay if he buys the goods is called an invoice. An invoice is a commercial document that itemizes all the products or services provided by the seller, as well as the prices. It typically includes important details such as the list of goods, quantities, agreed-upon prices, any discounts or taxes, and the total cost that the buyer needs to pay.
Invoices serve multiple purposes: they act as a request for payment, provide a clear record of a sale, and can be used for accounting and taxation purposes. By receiving an invoice, the prospective buyer is informed of the amount they need to pay if they decide to purchase the goods.
Ibeere 22 Ìròyìn
Awọn alaye Idahun
An agreement that is enforceable in law is called a contract.
Here's why:
1. A contract is a legal agreement between two or more parties. Each party agrees to do or not to do something in exchange for some benefit, typically referred to as consideration. In simpler terms, it's a promise or set of promises that the law will enforce.
2. For an agreement to be considered a contract, it generally must contain the following elements:
3. Unlike a decree or a declaration which are generally formal statements or orders typically issued by a government or authority, or an offer which is a proposal but not yet binding, a contract actively binds the parties involved and can be enforced by law. If one party fails to fulfill their stipulated duties, the other can seek legal remedies.
Ibeere 23 Ìròyìn
Which of the following types of insurance is usually excluded from the principle of indemnity?
Awọn alaye Idahun
The principle of indemnity in insurance states that an insured should not profit from a loss but rather be restored to their financial position prior to the loss. This principle is applied to prevent the insured from benefiting financially from an insurance claim.
Among the options provided, Life Insurance is usually excluded from the principle of indemnity. In the case of life insurance, it is not possible to quantify the loss of life in monetary terms and therefore indemnification in its traditional sense does not apply. Instead, life insurance works on a principle of paying out a specified sum when the insured event (death or specified incident) happens.
Other types of insurance like Fire, Fidelity Guarantee, and Marine are indemnity-based, meaning the payout aims to cover the actual financial loss. For example, if a fire damages property, the insurance payout is based on the value of the property destroyed. Similarly, fidelity guarantee insurance covers loss due to employee dishonesty, and marine insurance compensates for damage or loss of goods during transit. Therefore, these fall under the principle of indemnity.
In summary, life insurance is excluded from the principle of indemnity because it deals with the incalculable loss of a life by providing a predetermined benefit rather than a directly quantifiable financial covering of loss.
Ibeere 24 Ìròyìn
Which of these is used in calculating working capital?
Awọn alaye Idahun
Working capital is a financial metric that represents the difference between a company's current assets and current liabilities. It is used to assess a company's short-term liquidity and operational efficiency. In calculating working capital, we focus on the **current assets**, which are assets that are expected to be converted into cash or used up within one year.
Among the options provided:
Therefore, the **stock of raw material** is used in calculating working capital because it is a **current asset**. Working capital is calculated using the formula:
Working Capital = Current Assets - Current Liabilities
In this formula, **current assets** would include items such as stocks of raw material, cash, accounts receivable, etc. As a result, stock of raw material is relevant for determining a company's ability to meet its short-term obligations and manage day-to-day operations.
Ibeere 25 Ìròyìn
The deliberate throwing of some goods into the sea to prevent the ship from sinking is an example of
Awọn alaye Idahun
The scenario you described is an example of a general average loss. This term is used in maritime law and insurance. It refers to a situation where part of the cargo or equipment is deliberately sacrificed or damaged to save the rest of the ship and its cargo from imminent danger. In this case, the throwing of some goods into the sea is done to prevent the ship from sinking, which benefits all parties involved. As a result, the losses are shared proportionally among all stakeholders, such as the shipowner and cargo owners. This shared approach to dealing with loss is known as a general average loss.
Ibeere 26 Ìròyìn
The difference between the higher prices and the lower prices quoted for shares and stocks at the stock exchange is known as
Awọn alaye Idahun
The difference between the higher prices and the lower prices quoted for shares and stocks at the stock exchange is known as "jobbers turn."
Here's a simple explanation:
In the stock exchange, there are individuals known as jobbers who buy and sell stocks. They do not deal directly with the public but with brokers. Jobbers make a profit from the difference between the price at which they are willing to buy a stock (the lower price) and the price at which they are willing to sell it (the higher price). This difference is referred to as the "jobbers turn."
It's important to note that the jobbers turn is essentially the profit margin for the jobber, earned from trading activities. This is not to be confused with terms like commission or brokerage, which refer to fees charged by brokers for facilitating trades. Interest, on the other hand, is the cost of borrowing money, not related to the pricing of shares and stocks.
Ibeere 27 Ìròyìn
Bonded warehouse is controlled and supervised by
Awọn alaye Idahun
A bonded warehouse is a secure facility where goods are stored, and duties or taxes are deferred until the goods are removed and sold. These warehouses play a crucial role in international trade.
A bonded warehouse is specifically controlled and supervised by customs authorities. Customs are responsible for the regulation and examination of goods that are imported or possibly exported from the country.
Here is why customs control bonded warehouses:
This control by customs is crucial for maintaining transparency and compliance in the import and export of goods, ensuring the appropriate duties are collected and that regulations are respected.
Ibeere 28 Ìròyìn
Obi received a cheque for #1000 from Mr. Ade and this cheque was stolen. He must
Awọn alaye Idahun
If Obi received a cheque from Mr. Ade and it was stolen, the appropriate course of action would be to inform Mr. Ade to tell his bank to stop payment on the cheque. Here’s why:
1. Informing Mr. Ade: Obi should immediately inform Mr. Ade because the cheque belongs to Mr. Ade and he is the one who can authorize the bank to stop payment. The cheque is drawn from Mr. Ade's account, so his bank is the one that needs to be notified to prevent the cheque from being cashed by an unauthorized party.
2. Stopping Payment: By stopping the payment, Mr. Ade ensures that if someone tries to cash or deposit the stolen cheque, the bank will reject it, thus preventing any unauthorized withdrawal of funds from Mr. Ade's account.
3. Legality and Authorization: Obi cannot directly stop payment with Mr. Ade's bank because he is not the account holder, and the bank will not act on Obi’s request without Mr. Ade's authorization.
4. Request for Replacement: Once Mr. Ade has successfully stopped payment on the stolen cheque, Obi can politely request Mr. Ade for a replacement cheque, assuming the situation is amicable and Mr. Ade is willing to issue another cheque.
In summary, the first step is to inform Mr. Ade so he can take the necessary action with his bank.
Ibeere 29 Ìròyìn
Which type of advertisement induces consumer to purchase the goods he does not need?
Awọn alaye Idahun
Persuasive advertisement is the type that induces consumers to purchase goods they do not need. This form of advertising aims to create a desire in the consumer by appealing to their emotions, beliefs, or aspirations. Instead of providing just information about the product, it focuses on convincing the consumer that they will gain certain benefits or status by owning or using the product. This can be achieved through various techniques such as celebrity endorsements, fear of missing out (FOMO), appealing to trends, or showcasing how the product improves one's lifestyle or social standing. By doing this, consumers are often led to believe that they need the product to achieve happiness, success, or social acceptance, thereby encouraging them to make purchases that were originally unnecessary to them.
Ibeere 30 Ìròyìn
Prospectus in relation to a public limited inability company means
Awọn alaye Idahun
In the context of a public limited company, a prospectus refers to a formal document that is issued by the company to provide essential information to potential investors. It serves as an invitation to the public to buy shares in the company.
The main purpose of the prospectus is to help potential investors make informed decisions about whether or not to invest in the company's shares. It typically contains details such as:
The prospectus is a crucial document because it ensures transparency and allows investors to assess the potential risks and rewards involved in purchasing shares from the company.
Ibeere 31 Ìròyìn
The service rendered by NIPOST in which letters are addressed to any post office to await collection by the addressee is known as
Awọn alaye Idahun
The Free post service allows individuals to send letters or parcels to any post office without the need to pay for postage upfront. The addressee can then collect the item from the designated post office upon presentation of proper identification.
Ibeere 32 Ìròyìn
Which of the following CANNOT be sold through a vending machine?
Awọn alaye Idahun
When considering what items can be sold through vending machines, **the main factor to consider** is whether the item can fit within the confines of the machine and be dispensed in a simple manner without needing additional services. Let's analyze the options:
In conclusion, considering the typical size and function of a regular vending machine, **shoes cannot be sold** effectively through standard vending machines, while snacks, tickets, and tea can be dispensed without significant issues.
Ibeere 33 Ìròyìn
Which of the following can be used to establish an importer's title to goods?
Awọn alaye Idahun
To establish an importer's title to goods, the most significant document among the given options is the Bill of Lading.
The Bill of Lading is a legal document issued by a carrier to a shipper. It has multiple roles, including serving as a:
The other documents mentioned have different purposes:
In summary, the Bill of Lading is the primary document used to establish an importer's title to goods, serving as both an acknowledgment of the shipment and a legal claim to the goods.
Ibeere 34 Ìròyìn
A holding company is one which holds shares in another company up to
Awọn alaye Idahun
A holding company is a corporation that owns enough voting shares in another business to control its management and policies. Control is typically established by owning the majority of the voting stock. In most cases, owning over 50% of the voting shares is considered having sufficient control. Thus, a holding company generally holds shares up to 51% or more in another company to exercise control. To further clarify:
Therefore, a holding company usually holds shares up to and typically beyond 51% in another company to ensure they can steer the business according to their interests and policies.
Ibeere 35 Ìròyìn
The advertising medium which uses electric current in bulbs is referred to as
Awọn alaye Idahun
The advertising medium you are referring to is neon signs. Neon signs are a type of advertising and signage that use electrified, glowing tubes or bulbs that contain neon gas. When an electric current is passed through the gas, it emits light, creating a bright and eye-catching display. Neon signs are popular because they are highly visible at night and can be customized in various shapes, sizes, and colors. They are often used for attracting attention to businesses or special promotions.
Ibeere 36 Ìròyìn
Stock exchange quoted the shares of ABC Plc at #0.75K for #1.25K per share. This means the shares were sold at a
Awọn alaye Idahun
When shares are quoted on a stock exchange, it signifies the price at which the stock is available for purchase. The problem provides two prices regarding the shares of ABC Plc:
In this scenario, since the selling price (#1.25K) is higher than the par value (#0.75K), the shares were sold at a premium. Therefore, the stocks of ABC Plc were sold for more than their face value, which indicates that investors were willing to pay more than the nominal value for those shares, typically due to the company's perceived potential or existing market demand.
Ibeere 37 Ìròyìn
Gross profit can be calculated as
Awọn alaye Idahun
The calculation of **gross profit** is done by taking the total **sales revenue** and subtracting the **cost of goods sold (COGS)**. Hence, the correct formula to calculate gross profit is:
Gross Profit = Sales - Cost of Goods Sold
Let's break it down for clarity:
The **gross profit** reflects the company's **profitability** related to its core operations, excluding other expenses such as operating expenses, taxes, and interest.
For example, if a company records total sales of $100,000 and its cost of goods sold is $60,000, the gross profit would be:
Gross Profit = $100,000 - $60,000 = $40,000
The gross profit of $40,000 provides insight into the financial **efficiency** of the company's production and sales processes.
Ibeere 38 Ìròyìn
Banks issue cheque books to customers holding ___________ accounts.
Awọn alaye Idahun
Banks issue cheque books to customers holding current accounts.
Let me explain why:
A current account is designed for regular transactions. It is ideal for individuals or businesses that need frequent access to their funds. This account allows for multiple daily transactions such as deposits, withdrawals, and transfers.
One primary feature of a current account is the ability to issue cheques. A cheque is a written order to a bank to pay a certain amount of money from one’s account to another person or entity.
Unlike a current account, foreign accounts, deposit accounts, and fixed deposit accounts serve different purposes:
Therefore, banks provide cheque books specifically for current accounts to facilitate regular transactions.
Ibeere 39 Ìròyìn
A ship which has no fixed schedule and travels wherever it can find cargoes to carry is a
Awọn alaye Idahun
A ship that does not have a fixed schedule and travels wherever it can find cargoes to carry is known as a tramp ship.
Here's why it is called a tramp ship:
Tramp ships operate differently from other types of vessels, such as liners or ferry boats. They do not follow a set route or schedule. Instead, they are flexible and can go to any port where there is cargo to be transported. This means that their operations are based on demand rather than a predetermined timetable.
To put it simply, a tramp ship is like a freelance vessel that looks for cargo opportunities and travels based on where the work is, rather than sticking to a specific route or timeline. This provides a degree of freedom and responsiveness to market demands that fixed-schedule ships, like liners, do not have.
Ibeere 40 Ìròyìn
The act of being on one job for expertise is called
Awọn alaye Idahun
The act of being on one job for expertise is called specialization. Specialization is when an individual, group, or company focuses on a specific task, role, or field to become highly skilled and efficient in that area. For example, a person might specialize in medicine, engineering, or teaching, dedicating their time and effort to gaining deep knowledge and expertise in that particular domain.
Specialization allows individuals to become experts, improving their ability to perform their job effectively and efficiently. It also contributes to overall productivity and quality, as specialized professionals can apply their specific skills to complex tasks or problems, leading to more innovative and precise solutions.
In summary, by focusing on one job or area, individuals can hone their skills and contribute to greater efficiencies and advancements in their field.
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