Commerce

The rate of turnover of a firm in a given year is 5 times while the average stock is #12500. What is the turnover of the firm?

A. #24,000 B. #46,500 C. #62,500 D. #65,000 Correct Answer: Option C - #62,500 Explanation 12,500 x 5 = 62,500

5 years ago

A lawyer that defrauds his client may be derobed by the Nigerian Bar association in order to?

A. protect other lawyers B. protect the integrity of the association C. compensate the affected client D. prevent the client…

5 years ago

The amount of authorized capital that shareholders have subscribed to is?

A. issued share capital B. authorized share capital C. owner's equity D. working capital Correct Answer: Option A - issued…

5 years ago

Which of the following will not be stated in a Memorandum of Association?

A. Name clause B. rights of shareholders C. object clause D. registered office Correct Answer: Option B - rights of…

5 years ago

A business partner who provides capital but abstains from participation in administration of a firm is a?

A. general partner B. nominal partner C. secret partner D. dormant partner Correct Answer: Option D - dormant partner Explanation…

5 years ago

In order to increase the capital owned; a sole trader may?

A. seek for bank loan B. issue debentures C. acquire extra shop fittings on credit D. draw less of his…

5 years ago

An importance of warehousing is in the?

A. production of goods B. transportation of goods C. importation of goods D. repackaging of goods Correct Answer: Option A…

5 years ago

An undertaking given by a person to another assuring his integrity is?

A. proximate cause B. fidelity guarantee C. subrogation D. insurable interest Correct Answer: Option B - fidelity guarantee Explanation Fidelity…

5 years ago

The most reliable and efficient means of conveying urgent documents is through?

A. postal order B. ordinary letters C. registered letters D. courier services Correct Answer: Option D - courier services Explanation…

5 years ago

The two main forms of communication are?

A. oral and written B. verbal and non-verbal C. e-mail and fax D. traditional and modern media Correct Answer: Option…

5 years ago