Commerce

A person which decides what to produce and combines the other factors of production is the?

A. entrepreneur B. distributor C. engineer D. retailer Correct Answer: Option A A. entrepreneur

6 years ago

The act of keeping products in good condition until they are needed is?

A. Insurance B. warehousing C. communication D. advertising Correct Answer: Option B B. warehousing

6 years ago

Which of the following is not a means of payment in foreign trade?

A. Telegraphic transfer B. Cheque C. Letter of credit D. Bill of exchange Correct Answer: Option A A. Telegraphic transfer

6 years ago

Which of the following means restoring the issue to position he was just before the loss occurred?

A. Indemnity B. Subrogation C. Proximate cause D. Utmost good faith Correct Answer: Option A A. Indemnity

6 years ago

The expert who calculates premium for an insurance policy is?

A. an underwriter B. an actuary C. a broker D. an assessor Correct Answer: Option B B. an actuary

6 years ago

Which of the following is not an objective of ECOWAS?

A. Expansion of trade B. Encouraging free movement of persons within member states C. Improvement of infrastructural facilities D. Promoting…

6 years ago

A business firm which controls more than half of another firm’s equity is a?

A. holding company B. consortium C. cartel D. syndicate Correct Answer: Option A A. holding company

6 years ago

Which of the following is used to advertise of a company?

A. Memorandum of association B. Articles of association C. Certificate of incorporation D. Prospectus Correct Answer: Option D D. Prospectus

6 years ago

Which of the following is most appropriate for a “Cash with order” terms of sale?

A. Proforma invoice B. Credit note C. Debit note D. Consignment note Correct Answer: Option B B. Credit note

6 years ago

Which of the following business must have at least one member with unlimited liability?

A. Limited liability company B. Limited partnership C. Nominal partnership D. Public enterprises Correct Answer: Option B B. Limited partnership

6 years ago