S.S 2D Continuous Assessment

The main disadvantage of rail transport to the trader is that...

• Its cost of carriage is high

• It carries bulky goods only

• It is slow and inflexible

• It causes road congestion

Which mode of transport would you suggest as the most suitable for natural gas?

• air

• sea

• pipeline

• road

The oldest and commonest form of business in Nigeria is.....

• Partnership

• The co-operative society

• Public Coporation

• Sole Proprietorship

E & O.E. stands for.........

• errors and omissions exempted

• errors and orders excepted

• errors and omissions excluded

• errors and omissions excepted

A business is in existence primarily to....

• make profit

• provide employment

• provide goods and services

• compete with others in business

Which of the following is a public corporation?

• Nigeria Breweries Limited

• Nigerian Ports Authority

• Lagos Chamber of Commerce

• Nigerian Bottling Company

A document that regulates the internal operations of a company is known as........

• Memorandum of association

• Articles of association

• Prospectus

• Certificate of trading

If a seller discovers that he had undercharged a buyer, which of the following documents will he use to correct the error?

• A promissory note

• A credit note

• An advice note

• A debit note

An association of firms, producing similar commodities, formed in order to keep up price by restricting output is called...

• A chamber of commerce

• a syndicate

• a cartel

• an amalgamation

A business that has no maximum number of owners is called...

• partnership

• private company

• cooperative society

• public limited company