1) The act of selling in a foreign market at a price lower than the cost price is called
A. Dumping
B. hedging
C. fair trading
D. under sale2
2) Current account holders withdraw money through
A. Credit card
B. Cheque
C. Transfer
D. Withdrawal form3
3) One of the major problems of a sole proprietor is sourcing for
A. Funds
B. Labour
C. Raw materials
D. Machineries
4) Which of the following is a verbal means of communication?
A. Telephone
B. Express mail
C. Business reply services
D. telex5
5) Trade fairs in Nigeria are organized by
A. Ministry of commerce and industry
B. Chambers of commerce
D. The federal Government
D. Manufacturer’s Association of Nigeria
6) Privatization is
A. Transfer of ownership from individual to government
B. Transfer of ownership from government to stakeholders
C. Transfer of ownership from government to individuals
D. Government taking charge of all businesses7
7) In the law of contact, a counter offer operates as
A. A contact
B. an acceptance
C. a rejection
D. a rejection8
8) What is a Quota?
A. Tax pad on goods produced within a country
B. A physical restriction placed on quantity of goods that can be imported
C. Tax paid on goods produced outside a country
D. Ban on all imported goods
9) Which of the following functions is not performed by warehousing?
A. Stabilization of price
B. production ahead of demand
C. creating scarcity of goods
D. storage of goods
10) One of these is a current asset
A. Fittings
B. Machineries
C. Motor vehicles
D. Stock
