Which of the following business must have at least one member with unlimited liability?

• A. Limited liability company
• B. Limited partnership
• C. Nominal partnership
• D. Public eneterprises

The relationship between all imports and exports of a country is known as

• A. terms of trade
• B. balance of trade
• C. balance of payment
• D. terms of payment

A business organization that exploits the capabilities of a member to remedy the weakness of another is a

• A. joint venture
• B. partnership
• C. nominal partnership
• D. cooperative

The ECOBANK is the initiative of?

• A. some well-meaning Nigerian shareholders
• B. the Federal Government of Nigeria
• C. West African states to foster trade
• D. the Lagos State Governement to enhance capital mobilization

The deliberate effort geared towards discarding some cargoes in order to lighten the vessel is

• A. caveat emptor
• B. uberrimae fidei
• C. demurrage
• D. jettison

Auctions and Tenders become binding when they are?

• A. accepted
• B. offered
• C. received
• D. advertised

a) Statefive features each of the following business units:

• Cooperative Society;
• Mail Order Business.

b) Explainfive ways by which partnership could be brought to an end.

Which of the following will be suitable for hire purchase sale?

• A. Shares
• B. Refrigerator
• C. Shoes
• D. Textile

The face-to-face meeting of the seller with the buyer for the purpose of making sales is?

• A. mass selling
• B. impulse buying
• C. personal selling
• D. sales promotion

Business environment refers to all elements that are?

• A. outside an organization but relevant to its operations
• B. inside an organization but irrelevant to its operations
• C. internal to an organization and relevant to its operations
• D. external to an organization but indirectly related to its operations