Which of the following requires acceptance by the editor to make it valuable?
A. Postal order B. Cheque C. Promissory note D. Bill of exchange E. Bill of lading Correct Answer: Option D – Bill of exchangeWhen an order cheque is endorsed it becomes?
A. a bearer cheque B. a certified cheque C. an open cheque D. a confirmed cheque E. a dishonoured cheque Correct Answer: Option A – a bearer chequeWhich of the following is mostly used in Nigeria for setting business transactions?
A. Credit transfer B. Standing order C. Cheques D. Bank notes and coins E. Bank drafts Correct Answer: Option D – Bank notes and coins
Which of the following enjoins the buyers to examine goods thoroughly before Nigeria making a purchase?
A. uberrimae fidei B. Caveat subscriptor C. Consumer sovereignty D. Caveat venditor E. Standard for deferred payment Correct Answer: Option D – Caveat venditor
Which of the following ensures that manufactured goods conform to the required standard?
A. Nigerian Industrial Research Centre B. Standard Organization of Nigeria C. Consumer Consultative Committee D. Price Control Board E. Indigenization Decree Correct Answer: Option B – Standard Organization of NigeriaProducts
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