The arrangement and interrelationship of the various components and positions of a business is referred to as?

• A. organizational structure
• B. clarity of objective
• C. unity of direction
• D. line structure

The Central Bank Monetary policy instrument by which it buys and sells securities is called

• A. Bank rate
• B. Cash reserve ratio
• C. Open market operation
• D. Bank credit

A partnership is dissolved due to ________

• A. liquidity of the firm
• B. death of the employee
• C. insanity of a partner
• D. resignation of an employee

A shoe repairer is engaged in a

• A. service occupation
• B. manufacturing
• C. extractive occupation
• D. commercial occupation

Which of the following is applicable to foreign trade only?

• A. Pro forma invoice
• B. insurance policy
• C. Order
• D. Consular invoice

The most important pieces of legislation governing business and commercial activities in Nigeria currently is the

• A. Companies degree,1968
• B. Trade Disputes degree, 1976
• C. Companies and Allied matters degree,1990
• D. Banks and Other Financial institution degree,1991

A worker who processed garri is engaged in?

• A. extracting
• B. manufacturing
• C. exchange
• D. constructing

A Memorandum of Association is applicable to a?

• A. sole trader
• B. joint company
• C. partnership
• D. public corporation

(a) Describe four obligations of the employer to the employee.

(b) State four duties of the employee to the employer

Commerce is defined as

• A. buying and selling of goods and services only
• B. all activities in the distribution and exchange of goods and services
• C. all activities involved in the production of goods and services
• D. transporting and warehousing of goods only