(a) Write in full the following abbreviations as used in commerce:

(i) COD (ii) CIF (iii) FOB; (iv) E and O.E.

(b) The sale of consumer goods costing N 100,000 attracts a cash discount of 7½% and a quantity discount of 5%. Calculate the:

(i) value of the quantity discount

(ii) value of the cash discount

(iii) net amount of money payable by the buyer.

Jumoke and Kunle have an original investment of N25,000 and N15,000 respectively in a partnership. The articles of partnership provides 3% interest on capital and salaries of N1,500 and N1,000 respectively for the partners. The profits and losses are to be shared in the ratio 3:2.

Miscellaneous expenses of N2,500 were incurred with gross profit of N6,500 during the financial year.

The balance of profit and loss account will be?

• A. N4,000
• B. N2,800 B. N2,800
• C. N1,500
• D. 300

What is the effect of applying pressure on a ring inserted through the nostril of a bull?

• A. breaking of the septum
• B. reducing the resistance of the bull
• C. easing the flow of mucus
• D. facilitating the feeding of the bull

Which computer accessory is both an input and output device?

• A. Monitor
• B. Printer
• C. Network cards
• D. Scanner

Four pre-independece political parties in nigeria included the

• A. AG, NCNC,NNDP and NYMB
• B. NNDP, NCNC, NPC and AG
• C. NNDP, NCNC, NPC and UMBC
• D. NYM, NCNC, NPC and NNDP

Which of these statements is TRUE about carbon (IV) oxide?

• A. it supports combustion
• B. It is strongly acidic in water
• C. It is very soluble in water
• D. It supports the buring of magnesium to produce magnesium oxide

A written constitution is distinguished by its

• A. codification process
• B. reliance on case laws
• C. cumbersome and complex amendment procedure
• D. dependence on ordinary amendment procedures

The sum of items divided by the number of items is the

• A. frequency
• B. mean
• C. median
• D. mode

In the legislature, a private member's bill is

• A. introduced by a member of Parliament
• B. related to matters of local interest
• C. related to matters of sanitary nature
• D. introduced by the Executive

Spruce, fir and pine are tress found in the?

• A. Mediterranean woodlands
• B. Monsoon forest
• C. Coniferous forests
• D. Tropical rainforests