Correct Answer: A. Stock Exchange

Correct Answer: A) admission of a new partner

Explanation

Option A is the correct answer: admission of a new partner. This means that if a partnership allows a new member to join, that new partner would bring in more money and increase the capital of the partnership.

Option B, sales of shares, might be a good way for a company to increase its capital, but it doesn't apply to partnerships. Partnerships don't have shares like companies do.

Option C, discharge of a mortgage, doesn't increase a partnership's capital either. Discharging a mortgage means that the partnership has paid off a debt, but it doesn't give them any extra money.

Option D, grants from relatives, is also not a good answer. Grants are like gifts, and it's not reliable to depend on gifts from relatives to increase the capital of a partnership.

In summary, the correct answer to the question is Option A: admission of a new partner. This means that if a partnership allows a new member to join, that new partner would bring in more money and increase the capital of the partnership.

Correct Answer: D. a reduction in the value of sales, cash discount is a reduction in price of goods

Correct Answer: C. Nigerian Enterprises Promotion Act

Correct Answer: D) Nationalization

Explanation

The abuse of monopoly power can be detrimental to the market and the economy as a whole. This is because the industrialist with the monopoly power can set high prices, reduce the quality of their products, and limit the choices available to consumers.

The options provided in the question are Privatization, Commercialization, Indigenization, and Nationalization. Among these options, the correct answer is Nationalization. Nationalization is the process where the government takes over the ownership of a private company or industry. This is done to prevent the abuse of monopoly power and to ensure that the industry operates in the best interest of the public.

To summarize, when industrialists abuse their monopoly power, it can lead to negative consequences for the market and the economy. Nationalization is one way to prevent such abuse and ensure that the industry operates in the best interest of the public.

Correct Answer: A. Open Market Operation

Explanation

Open market operations (OMO) refers to when the Federal government through the central bank purchases and sells Treasury securities on the open market in order to regulate the supply of money that is on reserve in banks, and therefore available to loan out to businesses and consumers.

Correct Answer: C) N9.35 million

Correct Answer: D. Branding and packaging of goods

Correct Answer: B. itinerant trading

Explanation

Itinerant means traveling from place to place. Itinerant retailers have no fixed place of business. They move from place to place for selling their goods to the consumers. Itinerant sell in small quantities. They invest a very small amount of capital.

Explanation

(a) A contract is a legally binding agreement between two or more people which is enforceable in a court of law.

(b) Five elements of a valid contract:

(i) Offer

(ii) Acceptance

(iii) Consideration

(iv) Legally

(v) Intention to create legal relationship.

(vi) Contractual capacity/competence.

(vii) Formality

(viii) Consensus ad idem —Agreement/Genuine assent/Meeting of the minds.

(c) Ways by which a contract may be discharged:

(i)By agreement: If both parties agree to discontinue the contract before any of the parties performed his own side of the contract.

(ii)By performance:A contract ends when each party has completely performed his own part of the contract.

(iii) By frustration:A contract may be discharged by the occurrence of an event which makes it impossible to execute the contract.

(iv) By breach:This occurs when one party fails to perform his own part. The other party may seek for redress in the law court.

(v) By lapse of time:When the period stipulated for the execution of the contract has passed.

(vi)By operation of law: This occurs when a contract is terminated on legal grounds e.g. bankruptcy or court decision that vitiates contractual obligations.