Correct Answer: A. Economic Community of West African States

Correct Answer: A. face-to-face communication with customers

Explanation

(a)(i) Turnover is the total net sales of a business during a given period of time. It is calculated as the total gross sales of a business less returns inwards, i.e, Total gross sales - Return inwards.

(ii) Rate of turnover is the number of times the average stock of a business is sold during a given period of time.

(iii) Net profit is defined as the gross profit of a business less its expenses, i.e., Gross profit - Expenses

(b) Calculation: (i) Cost of goods sold is calculated as opening stock + purchases - closing stock

N

Opening stock 1,000

Purchases10,000

11,000

Less closing stock 5,000

6,000

(ii) Rate of turnover is calculated as follows:

Find average stock =opening stock + closing stock

2

= N1,000 + 5,000= N6,000= 3,000

2 2

DivideCost of goods sold

average stock

= 6,000 = 2 times

3000

(iii) Net profit is calculated as gross profit less expenses, while gross profit can be arrived at by deducting cost of goods sold from sales

i.e. Net profit = Gross profit - expenses and

Gross profit = sales - cost of goods sold

Sales 15,000

Less cost of goods sold 6,000

Gross profit 9,000

Less wages - 1,000

Net profit 8,000

Correct Answer: A. 50 oranges

Correct Answer: D. mining

Explanation

Extractive occupation is concerned with making available raw materials and natural products from land or sea e.g farming, fishing, mining, hunting etc.

Correct Answer: A. mobility

Correct Answer: C. discounted

Correct Answer: D. face value

Correct Answer: A. a form of loan

Explanation

(a)The meaning of Stock Exchange Market :A stock exchange market is a specialized market for the buying and selling of existing securities.

(b) The Functions of Stock Exchange Market:

(i) Quoted companies raise funds and capital by selling shares, bonds, stocks and debentures in the stock exchange market.

(ii) It provides rules and regulations that will guide somooth opertation on the floor of the stock exchange.

(iii) It provides professional advice/information to investors on sales and management of securities.

(iv) It allows forces of demand and supply to fix prices of securities of quoted companies/evaluation of existing shares.

(v) It facilitates the transfer of shares fromo wners to investors. Investors who want to withdraw from one company to another can do so without hindrance. Ivestor can buy and sell old securities

(vi) It provides avenue for government to raise funds to execute projects in their various states through issue of bonds.

(vii) It instill discipline in the operations of quoted companies/It ensures that companies quoted have good reputation. this will gear up companies to perform well or maintain high standard.