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Question 1 Report
The compensation made to an insured for loss incurred in insurance is called
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Question 2 Report
The different types of occupation in which people are engaged can be grouped as
Question 3 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 4 Report
A bank overdraft can only be granted to the holder of a
Question 5 Report
The factor of production which involves both the mental and physical effort of man is called
Question 7 Report
A statement of the current price and terms of trade of a product or service is called
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Question 8 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 9 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 10 Report
A situation where a consumer's need is the focus of attention is regarded as
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Question 11 Report
The fastest and most accurate means of passing information is
Question 12 Report
Another name for exchange of goods or other goods is called
Question 14 Report
Grouping consumers based on their purchasing habits is called market
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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
Assets of a business which can easily be changed into cash are called
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Question 17 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 19 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 20 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 21 Report
The best definition of Communication in Commerce is
Question 24 Report
Abubakar wants to sell his shares on the Kano Stock Exchange. Which service would he employ?
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Question 26 Report
When one party to a contract refuses to perform the obligations assumed under the contract, there is
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Question 27 Report
The process by which the government takes over private business is known as
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Question 28 Report
The main reason for Government ownership of a public enterprise is to provide
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Question 30 Report
Reorganization of public enterprises to run as profit-making ventures is called
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Question 31 Report
What is a voluntary association of business executives, tradesmen, or entrepreneurs?
Question 35 Report
Gases are best transported by
Question 37 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 39 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 40 Report
Assets of a business which can easily be changed into cash are called
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Question 41 Report
What covers the risk which an employer may suffer as a result of the dishonesty of an employee?
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Question 42 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 44 Report
Who has no right of ownership to a business organization?
Question 45 Report
The greatest weapon of the buyer against the activities of false advertisers is
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Question 47 Report
What is the fastest means of sending documents from one place to another
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Question 48 Report
The reputation and good image benefits arising from the business connections of a firm are called
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Question 50 Report
ln the selection of means of transport, speed is an important consideration for goods that are
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