1. Motivation is an essential element in management because it (a) leads to the Improvement of staff welfare
(b) encourages to work achieving the organization’s objectives (c) reduces friction among the organization’s objectives (d) helps to eliminate industrial disharmony. Right choice – Option B

2. The practice by which an insurance company accepts a very large risk and later shares it with other insurance
companies is called (a) subrogation (b) contribution (c) re-insurance (d) indemnity Right choice – Option C

3. The Business organization in which shareholder have equal votes is (a)sole proprietorship (b)partnership
(c)co-operative (d) limited liability C

4. A major liability of a commercial bank arises from (a) customer’s deposits (b)loans and advance (c) overdrafts (d) staff allowance Right choice – Option A

5. A term which indicates that a share is temporarily suspended is (a) ex-dividend (b) cum – dividend (c) bond
(d) stock Right choice – Option A

6. The most important piece of legislation governing business and commercial activities in Nigeria currently is the (a) Companies Decree, 1968 (b)Trade Disputes Decree, ‘1976 (c) Companies and Allied Matters Decree, 1990
(d) Banks and other Financial institutions Decree’ 1991 Right choice – Option C

7. The existing system of governance and the administrative sub divisions of a country which described as
(a) economic environment (b) Political environment (c)Social environment Right choice – Option C

8. One of the criteria for differentiating consumer markets from industrials ones is the (a) type of demand (b)type of supply (c) nature of the services rendered (d) price of the goodsRight choice – Option A

9. If a film turnover is = N = 10,000, what is the percentage of gross profit on sales? (a) 23.3% (b) 33.3% (c)50.0% (d) 66.6%Right choice – Option B

10. The overriding objective of the food and Drug Act in Nigeria is to prevent the (a) importation of food and drugs that can be locally manufactured (b) Consumption of food and drugs not tested by the ministries of health
(c) adulteration of food and drugs sold in the country (c) manufacturers of food drugs from charging excessive
prices Right choice – Option C

11. The assets, liabilities and general management of a distressed bank may be taken over by (a) international Bank for Reconstruction and Development (b) Nigerian industrial Development Bank (c) Nigeria Deposit insurance Corporation (d) Nigerian Bank for Commerce and industryRight choice – Option C

12. The activities of consumers association in Nigeria have not been effective because (a) the consumer are too many (b)the government is not favourably disposed towards consumerism (c) there is poor enlightenment about consumer rights (d) thee consumer have no medium for expressing their feelingsRight choice – Option C

13. I companies must be registered as private limited liability companies ll Companies must have not less than 100 shareholders lII. No shareholder may have more than 75% of issued share capital. What of the above are requirement for admission into the second -tier securities market (a) l and llonly (b) land lllonly (c) l, Il and lll(d) lla nd lll only Right choice – Option D

14. The least of the advantages of indigenization is that (a) the standard of living of the indigenes is improved
(b) the economy is controlled by the nationals (c) entrepreneurial skills is developed (d) foreigners’ domination is avoided. Right choice – Option A

15. An underlying principle in the marketing of goods is that firms should (a) train their personnel (b) be consumer oriented (c) advertise the goods (d)sell through outlets Right choice – Option B

16. An example of a consumer protection agency is the (a) Nigerian Bar Association (b) Nigeria Medical association (c) Federal Environmental Protection Agency (d) Manufacturers Association of NigeriaRight choice – Option C

17. The ordinary shareholders enjoy the following rights EXCEPT the right to (a)vote at annual general meetings
(b) elect board of directors (c) participate in additional issues of shares (d) receive dividends at a predetermined rateRight choice – Option D

18.The body that organizes, promotes and participates in local and foreign trade fairs is the (a) Ministry of Commerce and Tourism (b) Ministry of Finance (c) Chambers of Commerce (d) Export Promotion Council Right choice – Option C

19. Commerce makes it possible for man to live in a (a) Complex and organized society (b) society characterized by subsistency (c) society characterized by dependency (d)simple and organized societyRight choice – Option C

20. The main function of thrift, credit and loans co -operative societies is to (a) educate their members (b)collect money from their members (c) disburse money to their members (d) raise investment finance among their members Right choice – Option D

21. which of these sets of external environmental factors affect a business operation? (a) Competition, industry and Product (b) Competition, Labour and Political (c) Political, Cultural and Labour (d) Economic, Social and LegalRight choice – Option D

22. Management is described as (a) getting things done through people (b) implementation of business decisions
(c)the number of levels in an organization (d)the people in authority in an organization Right choice – Option A

23. The ECOBANK is the initiative of (a) some well-meaning Nigerian shareholders (b) the Federal Government of Nigeria (c) West African States to foster trade (d) the Lagos State Government to enhance capital mobilizationRight choice – Option C

24. Under normal circumstance, a business enterprise can be ideally structured (a) by product, function or territories (b) around the personalities in the enterprise (c) on the ruling of the management (d) on the basis of an order from stockholders Right choice – Option A

25. Shares can be forfeited for (a) non- payment of any due to the company (b) non attending three annual general meetings consecutively (c) non-payment of call money (d) violent activities at the Annual General MeetingsRight choice – Option A

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