Correct Answer: A. medium

Correct Answer: D. consumers

Correct Answer: C) Nearness to market

Explanation

Capital availability refers to the amount of money or resources that a business has access to. The availability of capital can determine the size and scale of a business unit. For example, if a business has a large amount of capital, it may be able to expand and open multiple branches or locations.

Ownership refers to who owns and controls the business. The form of a business unit can be influenced by whether it is owned by a single individual, a partnership, or a corporation. Different forms of ownership have different legal and financial implications.

The nearness to the market refers to how close a business is to its target customers. This can affect the form of a business unit as it determines factors such as transportation costs, access to customers, and competition. However, in this case, nearness to the market does not determine the form of a business unit.

The nature of the business refers to the type of products or services that the business provides. Different types of businesses require different forms of organization. For example, a manufacturing business may require a different form of organization compared to a retail business.

Based on the options given, the correct answer is Option C: Nearness to market. While nearness to the market is an important consideration for a business, it does not directly determine the form of a business unit. The form of a business unit is influenced by factors such as capital availability, ownership, and the nature of the business.

To learn more about this, please read the relevant sections of the recommended textbooks.

Explanation

Functions of Central Bank of Nigeria are:

(i) Lender of last resort: Commercial banks borrow money from the central bank in times of difficulty.

(ii) Banker to the government: The central bank acts as an agent and banker to the government. It borrows for the government through treasury bills, etc.

(iii) Bankers' bank: Every commercial bank has an account with the central bank which comprises its legal reserve.

(iv) Issuance of currency: The central bank controls the issue of currency notes and coins and protects the gold reserve.

(v) Maintenance of external reserves: It manages the foreign exchange system of a country.

(vi) Regulation of the economy of the country: The central bank maintains equilibrium balance of payments and prevents inflation and deflation.

Correct Answer: A) Production

Explanation

Out of the given options, the correct answer is Option A: Production.

Production is the process of combining resources, such as labor, capital, and raw materials, to create goods and services to satisfy human wants. It involves transforming inputs into outputs that are useful and valuable to consumers.

Consumption, Option B, refers to the act of using or consuming goods and services to satisfy human wants.

Industrialization, Option C, is the process of developing industries on a large scale, usually involving the use of advanced technology and machinery.

Occupation, Option D, refers to a person's regular work or profession.

In this case, the correct answer is Production because it specifically relates to the creation of utilities to satisfy human wants.

To learn more about this, please read the relevant sections of the recommended textbooks.

Correct Answer: A. Any unpaid dividend is carried forward

Correct Answer: A. sales promotion

Correct Answer: A. Franking machine

Explanation

(a) The cooperative society to be formed is a Thrift and Credit Society.

(b) Features of a thrift and credit society:

i. There is continuity, which means that the death of a member will not bring society to an end.

ii. Members are entitled to one vote each irrespective of the number of shares owned.

iii. The liability is limited to the shares held by the members.

iv. Profit is shared among members based on patronage.

v. The objective of the society is to generate funds which Would be given as loans to members.

vi. The management of the society is by a committee of elected members.

vii. Capital is raised from members' contributions.

(c) Advantages of thrift and credit society:

i. Society encourages saving habits among members.

ii. Members of the society have equal powers as all are entitled to one vote each during decision making.

iii. It enables members to have access to funds that could be difficult to obtain from Omer financial institutions.

iv. The death of any member cannot bring society to an end. It has continuity.

v. It improves members' standard of living as commodities such as cars, furniture, and housing are made available to members on credit.

vi. Members benefit from training and seminars which are organized by the society

vii. It grants loans to members.

Disadvantages of thrift and credit society:

i. There is usually difficulty in recovering loans which may hinder the operations of the society.

ii. Mismanagement/embezzlement of funds by elected members may lead to the collapse of society.

iii. There is great reliance on the contributions of members as well as repayment of loans.

iv. Some committee members lack management and technical skills to run the society, thereby leading to the collapse of the society.

Correct Answer: B) a social responsibility of the business

Explanation

The correct answer is Option B: a social responsibility of the business.

In commerce, businesses have a social responsibility to protect the public from questionable products and marketing practices. This means that businesses should ensure that their products are safe and that their marketing practices are fair and honest. This is important to protect consumers from harm and to build trust between businesses and the public.

While economics, legal, and political aspects are also relevant to business operations, the protection of the public against questionable products and marketing practices is primarily a social responsibility. Businesses have a duty to act in the best interests of society and to prioritize the well-being of consumers.

To learn more about this, please read the relevant sections of the recommended textbooks.