Correct Answer: B. the board of directors

Correct Answer: C) there is poor enlightenment about consumer rights

Explanation

Consumer associations are organizations that work to protect the rights and interests of consumers. They aim to ensure that consumers are treated fairly by businesses and have access to safe and quality products and services. In Nigeria, the activities of consumer associations have not been effective due to poor enlightenment about consumer rights.

Poor enlightenment means that people are not well-informed or educated about their rights as consumers. This lack of awareness makes it difficult for consumer associations to advocate for and protect the rights of consumers. If consumers do not know their rights, they may be taken advantage of by businesses or face unfair practices without realizing it.

To improve the effectiveness of consumer associations, it is important to educate consumers about their rights. This can be done through campaigns, workshops, and awareness programs that aim to inform people about their rights as consumers, how to identify and report unfair practices, and how to seek redress when their rights are violated.

By increasing awareness and understanding of consumer rights, consumer associations can empower consumers to make informed choices, demand quality products and services, and hold businesses accountable for their actions. This will ultimately lead to a more effective protection of consumer rights and the activities of consumer associations in Nigeria.

In summary, the activities of consumer associations in Nigeria have not been effective because there is poor enlightenment about consumer rights. To improve effectiveness, it is important to educate consumers about their rights through awareness programs and campaigns.

Correct Answer: C. Skilled personnel

Correct Answer: D. goods in transit

Correct Answer: B. Certificate of Incorporation

Correct Answer: D) technological development

Explanation

The question is asking about the use of computers in the modern banking industry. Computers are now widely used in banks for various purposes. They help to automate many banking processes, such as keeping track of customer accounts, processing transactions, and generating reports. By using computers, banks are able to handle a large volume of transactions quickly and efficiently. Now let's look at the options. Option A is competitive development. While computers do help banks compete with each other by offering better services, this is not the main reason for their use. Option B is scientific development. While computers are certainly a product of scientific development, their use in the banking industry is not specifically related to scientific research or advancement. Option C is economic development. While computers do contribute to economic development in general, their use in the banking industry is more specifically related to improving banking operations. Option D is technological development. This is the correct answer. Computers are a result of technological development, and their use in the banking industry reflects the advancement of technology in this sector. In summary, the use of computers in the modern banking industry is a reflection of technological development.

Correct Answer: B. creditor

Explanation

(a)(i) Means of Payment in International Trade: (i) Bills of exchange:- It is an instrument drawn through the banking system to pay an oversea seller for goods bought by an importer from another country. (ii) Travellers cheques:- These are special cheques issued by banks to its customers to enable them make payment while outside the country. (iii) Debit Cards:-These are issued by banks to their customers to enable them pay for goods and services online, provided they have money in their accounts. (iv) International bank draft: It is a cheque issued by a local bank, payable overseas on its own agent and handover to the buyer. (v) Credit transfer:-lt is an arrangement by which funds are transferred from one local person's account to another in a foreign country by bank.

(ii) Means of payment in home trade: (i) Cash:- Local currency can be handed over to the seller as a means of payment. (ii) Point of Sales (POS):- Payment can be made through point of sale terminals using credit or debit cards. (iii) Bank app: Payment could be made directly by the buyer from their phones using bank applications (bank app). (iv) Local bank draft:- This is a cheque issued by a local bank payable within the country in the name of the seller.

(b) Reasons Countries Engage in International Trade: (i) Uneven distribution of natural resources- Some countries have abundance of certain natural resources for example oil while others do not. There is therefore need for trade to occur in order to obtain those resources. (ii) Differences in technology:- Differences in skills and technology necessitates trade as countries that do not have certain technology or skills in producing certain goods or services depend on others. (iii) Access to Wider marKet: The need to access a wider market for goods and services leads to international trade as surplus goods and services need to be exported. (iv) Need to access wide varieties of goods: Countries engage in international trade so as to obtain a variety of products so as to satisfy the different tastes of its consumers. (v) Seasonal products:- Some products are seasonal in nature and countries have to import them when they are no longer available. (vi) Comparative advantage: - Countries will prefer to buy products that are cheaply produced by other countries and use their surplus resources for other purposes (vii) To acquire capital asset that the country cannot produce. (vii) Countries in a bid to create employment encourage producers to produce for foreign market.

Correct Answer: A. capital

Correct Answer: A) the capital market

Explanation

To answer the question, the correct option is A, the capital market. The capital market is a market for raising long-term funds through the sale of securities, such as stocks and bonds. Public limited companies can issue shares of stock or bonds to investors in the capital market, providing them with long-term financing.

The money market, on the other hand, is a market for short-term borrowing and lending, usually with maturities of less than one year. Bank overdrafts are short-term loans that allow a company to overdraw its account with a bank, while discount houses are institutions that provide short-term loans to companies by buying their bills of exchange at a discount.

In summary, a public limited company can raise long-term loans through the capital market by issuing stocks or bonds to investors. To learn more about this, please read the relevant sections of the recommended textbooks.