BUS 101 CBT PRACTICE

1. When you add value to product s in their natural forms you are a ______________.

2. "The Nigerian factor has contributed to businesses that are not carrying out its social responsibility"

3. Who is known to the public as a partner but does not take active part in the management of the firm.

4. The same number of people are required in the onwership of a busines as well as in the case of a bank.

5. A----------- is an association of investors who buy or own shares in a company for the purpose of carrying on a business

6. How many different types of Laws affect business in Nigeria ?

7. Quantum meruit as one of remedies for contracts could be claimed in a variety of circumstances, except one_____.

8. _____ use resources to be able to perform their functions

9. Which of these is not a factor that business can control?

10. Which is not a condition for warranty?

11. When did Olusegun Obasanjo take over power as Nigerian elected President?

12. Which of these is not an advantage to sole proprietorship?

13. ___ partner contributes only the money needed for formation of the business or for running of the business.

14. Kurfi( 2005) identified how many classes of contracts?

15. The sources of funds for a partnership do not include which of these_____________.

16. What is the maximum number of people allowed to form a Private Limited Liability Company?

17. How many types of partners exist in a partnership?

18. "Many years ago, James Bumhan, in the management revolution argued that ownership had been divorce from control."

19. The Double Entry Rule is applicable to the following class of accounts, except_________.

20. ___Communication is a process of information transfer, which goes on within you as an individual.

21. Which of these kind of companies are their liabilities not limited by the money they have contributed to the business?

22. ______ is not an account itself and it is not part and parcel of the double entry system.

23. There basically _____ types of Partnerships.

24. One of the following does not portend a positive side of managers of a business.

25. Which Companies Registration Document contains notices, circular, advertisement or other invitation offering the public subscription or purchase of shares or debentures

26. A contract may be discharged by the following way, except on the basis of _______.

27. Who amongst of these is not a producer?

28. A contract may be declared null and void except under which condition?

29. ____- include Specialization and the division of labour.

30. Which of thse is not a specific environment to business?

31. One of these is not an advantage of Partnership?

32. What percetage of the workforce in the America was estimated to be in service business in the mid 90s?

33. The _____ (mostly the secretary) needs to cultivate good telephone diplomacy.

34. How many conditions must be fulfilled for a contract to be enforceable?

35. What document regulates the activities of the partnership business.

36. One of these is not a feature of Partnership. Which one?

37. ________ is Is a promise or a commitment to do or reframe from doing some specifying things in the future.

38. Which of these is not a factor for consideration by a manufacturer in deciding on transportation of goods?

39. Policy formulation is a function of the

40. The "Constitution" of the partnership is drawn by _________