BUS 101 CBT PRACTICE

1. There basically _____ types of Partnerships.

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

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

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

5. Which is not a condition for warranty?

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

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

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

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

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

11. ______ is mostly found in retailing business.

12. In 1993 and arising from the annulement of the June 12th Elections how many Heads of State did Nigeria have?

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

14. Find the odd one out

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

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

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

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

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

20. The statutory of management science can be traced back to after the___ World War.

21. Which of the following is a function of management?

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

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

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

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

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

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

28. Policy formulation is a function of the

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

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

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

32. Who amongst of these is not a producer?

33. Management is

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

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

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

37. What class of contracts invloves two parties making mutal promiises?

38. How partners are required to sign the Article of Association to make enforceable?

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

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