BUS 101 CBT PRACTICE

1. ______ is mostly found in retailing business.

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

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

4. _______ benefit from business training opportunity.

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

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

7. An _______ faces problem of how to finance his business.

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

9. The accounting equation is assessed in a financial position statement called __________.

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

11. Which is not a condition for warranty?

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

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

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

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

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

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

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

19. An agreement between two parties for the second party to have an item under some conditions, until such conditions are fulfill, the item is still that of the first party is called---.

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

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

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

23. Who had identified the cultural characteristics and trend that may be of interest to business?

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

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

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

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

28. Management is

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

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

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

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

33. Who amongst of these is not a producer?

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

35. How types of Businesses are memtioned in the study material?

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

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

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

39. Find the odd one out

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