A memorandum of association is applicable to a

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

A type of long-term loan granted to companies with fixed interest rate as well as with redeemable and irredeemable features is referred to as projects.

• A. debenture
• B. a bond
• C. a term loan
• D. an overdraft

An agent who takes title to goods and has authority to buy and sell on behalf of another is

• A. A jobber
• B. A broker
• C. A factor
• D. An auctioneer

The forum for the selling and buying of securities of small and medium companies is called.

• A. Securities and Exchange Commission
• B. Second tier Security Market
• C. Foreign exchange Market
• D. Second tier foreign Exchange market

The development of commerce in west Africa was not hampered by

• A. Inadequate capital
• B. Inadequate means of transportation
• C. Insurance
• D. Low savings

Resources commited into the production of relatively few commodities is known as

• A. Production
• B. Specialization
• C. Creation manufacturing
• D. Manufacturing

The principle of subrogation stated that

• A. An insured person should be indemnified to the time of the amount insured
• B. An insurance company constant in lace of the insured in dealing with third party.
• C. Only a person who is likely to suffer loss hold take out an insurance cover
• D. There must be accuse connection between the actual loss suffered and risk insure

In the permanent storage device, DASD means

• A. Data Access Systems Device
• B. Direct Access Systems Device
• C. Data Access Storage Device
• D. Direct Access Storage Device

Second-tier securities market differs from the first-tier securities market in that the former is

• A. highly restricted
• B. Regulated by SEC
• C. Regulated by NIPC
• D. less restricted.

The circulating capital of a business enterprise is classified into

• A. Cash, work-in-progress and debtors
• B. Cash, Vehicles, land and building
• C. debtors, stocks of raw materials and fitting
• D. Prepayments, debtors and equipment