Explanation

(a) Reasons a bank would honour a cheque:

i. When the amount written in figures does not correspond to the one in words.

ii. When the drawer's signature is different from the specimen captured when the account was opened.

iii. If the bank has been informed about the demise or insanity of the account holder.

iv. When a court of competent jurisdiction freezes the account (Garnishee order)

v. When the amount on the cheque is greater than the account balance.

vi. When the owner orders the bank to stop the payment of the cheque.

vii. If the cheque is not presented within a period of six (6) months.

viii. If there are alterations without the signature.

ix. If any of the essential features of a cheque is missing (Date, Signature and Payee).

x. If the cheque is mutilated.

xi. If the cheque is presented before the date written on it/post dated.

(b) Reasons countries introduce restrictions in foreign trade:

i. Countries restrict trade to protect their home/infant industries from the competition of more advanced industries abroad

ii. To enable local industries to expand and employ indigenes.

ii. Trade restriction, through the use of tariffs generates revenue for governments.

iv. Countries restrict foreign trade to improve their balance of payment with other countries.

v. Foreign trade restrictions are usually employed to preserve a country's foreign reserves.

vi. Countries may restrict trade as a retaliatory measure.

vii. Trade restriction is also used to reduce the demand for specific goods.

viii. To prevent dumping of goods from more established foreign firms.

ix. To prevent importation of harmful goods

Correct Answer: B. Deferred payment

Explanation

(b)(i)The advantages of transporting goods by rail are:

(i) It is suitable for large consignments of bulky goods over long distance.

(ii) The routes are usually direct and are not subject to traffic hold-ups.

(iii) Special trains may be arranged to suit certain goods.

(iv) It is less prone to accident and highway robbery.

(v) Trains move on schedule.

(vi) Transportation of goods by train is relatively cheap.

(ii) The disadvantages of rail transport are:

(i) Additional handling or transhipment is needed before goods reach their destination.

(ii) Fixed routes and set time-tables do inconvenience users.

(iii) It is too slow for perishable goods.

(iv) It is expensive for short journeys because of its fixed charges.

Correct Answer: B. weird

Correct Answer: D. abstraction

Correct Answer: B. wholesaler

Correct Answer: A. balm, gum and myrrh

Correct Answer: B. creation was carried out by spoken word

Correct Answer: D. avert the punishment for their sinful life

Correct Answer: D. interest-free loan