1. Occupations are classified into (A, production. labour and economics (B) extraction, construction and manufacturing (C) industry, commerce and services (D)trades, aids to trade and services.

2. One advantage of a crossed cheque is that it can (A) only be paid into saving account (B) be cashed over the banks counter(C) only be paid into the owners account (D) be cashed by anyone

3. One advantage of the co-operative society over the ordinary company is; (A) Latter pays tax while the former does not (b) Former attracts more capital than the latter (C) Membership of the former is usually more than of the latter (D) Former, unlike the latter, has limited and liabilities’

4. One of the main features of a partnership is (A) limited liability (B) lack of corporate existence (c)unlimited membership (D) lack of mutual confidence

5. One way by which a business can discharge its social responsibility to its community is to (A) hold monthly meetings of its customers (B) build houses for its executive’s (C) award scholarship to staff children (D) build Public health centres’

6. Sabo anO Gambo entered into a contract for the sale of two baskets of tomatoes belonging to Gambo Before the
date of delivery and wrthout any default by Gambo’ the tomatoes were stolen. This is an’example of termination of
contract by (A) Breach (B) Performance (C) Fault (D) Frustration’

7. Ships used for international transport are (A) trawlers (B) yachts (C) ocean liners (D) launchers

8. The activity which entails buying of goods in bulk and selling in small quantities to retailers is (A)assembling (B)wholesaling (C) retailing (D)merchandising’

9. The art of soap-making is an example of (A)primary occupation (B)secondary occupation (C) tertiary occupation (D) construction occupation

10. The assets, liabilities and general management of a distressed bank may be taken over by (A) international Bank for Reconstruction and Development (b) Nigeria industrial Development Bank (C) Nigeria Deposit insurance Corporation (d) Nigerian Bank for Commerce and industries

11. The association that comprises all types of businesses is referred to as (A) Chamber of commerce (B) trust
(c) Trade associate (D) cartel’

12. The availability of goods and services is brought to the notice of consumers through (A) personal selling (B)public relation (C)the telephone (D)advertising

13. The best mean of sending unwritten messages simultaneously to many branches of an organization within
the country is the (A) television (B) telephone (C) Telegraph (D) Radio

14. The body charged with divesting government interests in public enterprises is (A)SON (B) NPC (c)BPE (D)NDE

15. The body that organizes, promotes and participates in locaiand foreign trade fairs is the
(A) Ministry of Commerce and Tourism (B)Ministry of Finance (C) Chambers of Commerce (D) Export Promotion Council

16. The central focus of commercial activities is; (A) Pricing (B) advertising (C)trading (D) marketing

17. The comparison of a country’s visible and invisible exports and imports expressed in monetary term is
(A) balance of payment (B) terms of trade (C) balance of trade (D) terms of payment

18. The details of the goods required by the purchaser is outlined in (A) a consular invoice (B) an indent (C) an invoice (D) a certificate of origin

19. The difference between trademark and patent right is that the latter (A) gives exclusive right to import a particular good (B) is conferred by the government (C) confers monopoly on a Product (D) confers exclusive right to publish literary works

20. The distribution and exchange of goods and services for the satisfaction of wants is the concern of
(A)Production (B) Utility (C)Commerce (D) lndustry

21. The document issued to a port authority when goods are deposited is a (A) dock landing account (B) bill of sight (C) billing of lading (D) dock warrant

22. The document that gives an importer a freehand to obtain goods from any manufacturer is (A) a consultant invoice (B) a closed indent (C) an open indent (D) a freight note

23.The document with which a manufacturing enterprises releases stock of raw materials to the factory for production is called (A) stock release form (B)goods received notes (C)store issues voucher (D) Materials release note

24. The factor essential for tourism are (A) accessibility, capital amenities, and schools (B) good weather, amenities, accessibility and scenery (C) amenities, capital, accessibility and market (D) good weather, capital, schools and scenery

25. The factor of production that is subject to depreciation is (A) capital (B) land (C) labor (D)entrepreneur

26. The fear of many communities concerning tourism development is the (A) influence of foreign culture (B) fear of the disease transmission (C)fear of pollution (D) religious intolerance.

27. The financial institution established to boost Nigeria’s trade with the rest of the world is called (A) Nigerian Deposit insurance corporation (B) Nigerian Economic Reconstruction Fund (C) Nigerian industrial Development Bank (D) Nigerian Export-import Bank

28. The form of capital which easily transferred in the form desired is known as (A)Working capital (B) Liquid capital (C) Circulating capital (D) Capital employed.

29. The four Ps of marketing are (A) product, place, process and promotion (B) price, product, property and place (C) price, product, place and promotion (D) price, production, place and property.

30. The harmonious relationship among the various units in an organization is ensured through (A) cooperation (B) motivation (C) planning (D) Leadership

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