Correct Answer: A. errors and omissions excepted

Correct Answer: B. customs and excise authorities

Correct Answer: A. perishable

Explanation

perishable foods are those that spoil or

Correct Answer: B. overdraft

Explanation

An overdraft is a loan facility available to only current account holders, where a bank allows a customer to withdraw or take out more money than the account holder has in the account.

This means if a bank customer has only N10,000 in the bank account and needs, say N20,000 to meet financial obligations, they can request an overdraft which allows them to withdraw up to N20,000 with a promise of paying back on a specific day. This is very common among salary earners who have a stable means of income.

The money is then deducted directly from their next deposit depending on the terms of repayment, whether full or on installment.

Explanation

i) The principle is delegation. It enables a manager or superior to assign some of his duties to his subordinates.

ii) a) She is responsible for the recruitment, selection and staff placement.

b) She participates in staff appraisal and evaluation

(c) She serves as a liaison officer between Baku limited and labour unions

(d) She is responsible for management of training and staff development

(e) She is involved in the disengagement of staff/ dismissal of staff

(C) (a) Planning: It is the setting of goals and establishing of objectives and tasks to qualified staff

(b) organizing: This is the process of arranging and structuring of tasks into units and assigning such task to qualified staff.

(c) controlling: It involves monitoring of activities of the firm to ensure that set standards are followed and taking corrective actions where deviations occur.

d) Directing: This refers to the provision of guidance and supervision to subordinates in order to achieve organizational goals.

Correct Answer: A. contribution

Explanation

i) interest and profit: is the reward earned from the use of capital while profit is the reward for entrepreneurship

ii) Share and debenture: A share shows part ownership of a company while a debenture is debt owned by a company OR A share earns dividend earnss fixed interest

iii) Ordinary Share and Preference share: Ordinary share is a share whose holder is paid after all other shareholders have received their dividends while preference share has no voting right.

iv) Cumulative preference share and participating preference share: Cumulative preference share is a share whose owner is entitled to payment of unpaid dividend during future years when profit is made while a participating preference share is one whose holder is entitled to extra dividend if certain level of profit is attained.

v) Cum div and ex div: If a person buys shares cum div it means that the dividend that is about to be paid will be his; on the other hand, if a person buys shares ex div it means that the dividend that is to be paid will not be paid to him but to the previous owner.

Correct Answer: B. Bill of exchange

Explanation

A bill of exchange is of real use if it is accepted by the person directed to pay the amount. For example, if Mr. X orders Mr. Y to pay N10,000 for 90 days after the date and Y accepts this order by signing his name, then it will be a bill of exchange.

Correct Answer: A. import volume is greater than export

Explanation

The minus (-) sign behind the amount depicts a negative balance. This means the country is giving out more than it is receiving in payment. Simply put, the country's imports exceed its exports by the sum of $20 million.

Correct Answer: B. implementation of organizational plans