Correct Answer: A. withdrawal can be made at any time

Correct Answer: C. Goods are on display with price tags

Explanation

One distinguishing characteristics of Supermarkets is the display of varieties of goods including other non-food items such as medicines, cosmetics, ready-made garments, household goods with price tags clearly stated

Correct Answer: C. duration of the conversation

Correct Answer: A. sales promotion

Explanation

(a)Importance of Personal Selling:

(i) It is used to sell custom made or expensive/technical goods that need demonstration

(ii) It is a public relations tool that can be used to improve the firms' image.

(iii) It makes for two way communication which makes it possible for feedback.

(iv) It is also used to introduce new products instead of embarking on intensive advertisement.

(v) It is a form of promotion which encourages on the spot purchase by buyers.

(vi) It helps the business to eliminate middle men and as a result stabilize price and avoid adulteration.

(vii) It helps salesmen to tailor their sales presentation to fit the needs and behaviour of individual customers.

(viii) It helps to arouse customers interest in the old products of the firm

(ix). It increases the sales volume of the firm.

(b) Importance of Communication to business:

(i) Goods and services are made known to potential buyers through communication.

(ii) Communication facilitates contact between buyers and sellers irrespective of distance.

(iii) Demand for goods can be stimulated through effective communication.

(iv) Information of government policies get to the business man through communication.

(v) It facilitates mail order business and courier services.

(vi) It facilitate payments for goods and service through money transfer.

(vii) The whole world had been turn into a global village through the use of information and communication technology/international or foreign trade.

(viii) It facilitates intra and inter departmental communication in the running of business/Dissemination of information within the organisation.

(ix) Communication reduces risk and cost of traveling.

Correct Answer: C. the holder has no better title than the person person who transfers it

Explanation

(a) Features of Public Corporation

(i) It is created by an Act of parliament.

(ii) It is controlled by government

(iii) It is managed by a board of directors appointed by the government.

(iv) It provides essential services at affordable prices

(v) it is not profit oriented.

(vi) It is financed by government subsidies/grants/subvention

(vii) it is a legal entity that can sue and be sued.

(viii) It require large capital outlay

b(i) Sources of capital to limited liability companies:

(i) Shares.

(ii)Debentures

(iii) Plough back profit/Retained earnings

(iv) Bank loans

(v) Bank overdrafts

(vi) Trade credits

(vii) Government tax holidays

(viii) Leasing

(ix) Hire purchase

(x) Debt factoring

(xi) Sales of assets.

b(ii) Explanation of sources capital available to limited liability company:

(i)Shares: Shares constitute part ownership (capital) of a company. They are given in units with quoted monetary value (price) to the public to subscribe. Shares could be ordinary or preference depending upon how the company wants the share capital to be constituted.

(ii)Debentures: These are loans carrying fixed rate of interest that are payable whether a company makes profits or not. The interests are paid before payment of dividend on shares. A written agreement of indebtedness with terms and conditions under the company's seal serves as guarantee/It is a secured loan.

(iii)Plough back profit/Retained earnings: The profits of a company may be reinvested rather than being distributed to shareholders in form of dividend.

(iv)Bank loans:These are large amounts of funds which are raised from commercial banks and investment institutions which attracts interest. Such loans carry collateral security as a guarantee.

(v)Bank Overdrafts:These are credit facilities granted to a limited liability company operating current account to withdraw money over and above their bank balance for immediate use,

(vi) Trade credits: This refers to the supply of goods by manufacturers arid wholesalers for which payment is made at a later date or after the sale of the goods.

(vii)Government tax holidays:Government provides relief in the form of nonpayment of taxes for some periods.

(viii)Leasing:A company hires equipments, machinery and land in lieu of outright purchase and pays rent as agreed. Thus it enables a company to employ asset without having to tie up large amount of capital for a long period.

(ix)Debt factoring: This is taking over Of trade debts by an intermediary called a factor, Factoring provides the seller of the debts with prompt payment. (it is called forfeiting in international trade)

(x)Sale of Assets:A company may dispose off some of its assets to raise funds.

(xi)Hire purchase:Companies in need of funds to acquire capital assets may get them through installment payment agreement.

Correct Answer: B. charter party

Correct Answer: A. Stock Exchange

Correct Answer: B. Quick decision-making