Into which of the following two broad areas can trade be divided?

• A. home and foreign trade
• B. home and retail trade
• C. wholesale and retail trade
• D. foreign and wholesale trade

Modern business philosophy emphasizes

• A. quality products
• B. customer satisfaction
• C. sales volume
• D. public relations

commercial agents who are authorized to keep goods untill they are sold are?

• A. factors
• B. distributors
• C. brokers
• D. auctioneers

The mode of transporting crude oil to the ports for export purposes is by

• A. tanker
• B. rail
• C. road
• D. pipeline

The nominal value of a share as specified in the Memorandum of Association and the share certificate is the

• A. discounted value
• B. stock value
• C. face value
• D. par value

A major liability of a commercial bank arises from

• A. customers' deposits
• B. loans and advances
• C. overdrafts
• D. staff allowance

A person who is cheated in business transaction can seek legal remedy

• A. even if the agreement is verbal and the amount involved is large
• B. only if the business is a sole proprietorship whose owner is known
• C. regardless of the form of business organization
• D. only if the transaction is documented in a contract

The organisation of local and international trade fairs is the responsibilty of

• A. trade associations
• B. labour unions
• C. chamber of commerce
• D. custom and excise authorities

Consumerism aims at protecting the consumer from?

• A. harmful products
• B. drug addiction
• C. smoking cigarettes
• D. alcohol consumption

The rate at which the country's import exchanges for its export is known as

• A. Terms of trade
• B. Balance of trade
• C. Rate of exchange
• D. Terms of exchange