Commerce

The principle of insurance that restores the insured to the position he occupied immediately before the loss occurred is called?

A. utmost good faith B. indemnity C. subrogation D. contribution E. insurable interest Correct Answer: Option B - indemnity

6 years ago

The main reason for advertising an already existing line of products is to?

A. develop customers' awareness B. entertain customers C. introduce a price deal D. build brand recognition E. retain old customers…

6 years ago

Which of the following is a function of advertising?

A. Stimulation of demand B. Leads to market segmentation C. Maintenance of quality D. Determining selling price E. Provision of…

6 years ago

Which of the following mostly serves as a useful promotional device for consumer goods?

A. Trade mark B. Labelling C. Standardization D. Grading E. Packaging Correct Answer: Option E - Packaging

6 years ago

Which of the following monitors people’s opinion about a firm and takes measures to correct adverse impressions?

A. Public Relations B. Advertising C. Sales Promotion D. Exhibitions E. Trade Fairs Correct Answer: Option A - Public Relations

6 years ago

The intangible benefits arising from the business connections and reputation of a firm is called?

A. interest B. goodwill C. commission D. bonus E. dividend Correct Answer: Option B - goodwill

6 years ago

The reorganization of public enterprises to operate as profit-making ventures is known as?

A. privatization B. nationalization C. indeginization D. commercialization E. harmonization Correct Answer: Option D - commercialization

6 years ago

Food and Drugs Act, Weights and Measure Act, Standards Organization of Nigeria, etc are aimed at?

A. raising revenue for government B. regulating balance for trade C. checking exports D. controlling dumping E. protecting consumers Correct…

6 years ago

Which of the following is a characteristic of a private company?

A. There is no limit to the number of members B. Shares and debentures are freely offered to the public…

6 years ago

Which of the following is not a means by which banks facilitate foreign trade?

A. Currency exchange B. Letter of credit C. Open market operations D. Discounting Bills of exchange E. Trade reference Correct…

6 years ago