(i)                 Which of the following is not a major goal of planning in business?

1.   To gain economic operation
2. To focus attention on objectives
3. To facilitate control
4. To maintain profits
5. To offset uncertainty and change

(ii)               Marine insurance policy which do not specify the subject matter insured is referred to as

1. time policy 
2.  cargo policy.
3.  floating policy 
4. mixed policy
5. voyage policy

(iii)             Which of the following is the disadvantage of mail order business?

1. There is limited range of goods
2.   Middlemen can be eliminated
3. Trade is carried out 24 hours
4. Not necessary to maintain a big shop
5. No shop assistants are employed

(iv)              The traders who buy goods from abroad in their own name and sell them locally are called

1.  import commission agents   
2.   import argents.
3. import merchants 
4.  import brokers
5.  importers’ argents.

(v)                A certificate of incorporation is a document that

1. governs the relationship of the company with outsiders.
2. empowers the company to commence business activities.
3.   gives a company a legal existence.
4.  lays down rules and regulations of the internal organization of a company. 
5.  invites offer from the public for subscription of shares of a company.

(vi)              Which of the following is not the aim of marketing boards?

1. Finding a satisfactory market.
2. Stabilizing prices of agricultural products.
3. Ensuring a steady supply of the commodity all through.
4.  Encouraging competition between marketing boards.
5. Assisting farmers with collection and storage of their produce.

(vii)            The warehouses which are situated at terminals of railway, air ports and sea ports are known as

1. public warehouse. 
2.  bonded warehouse 
3. wholesaler’s warehouse 
4.  manufacture’s warehouse. 
5.  private warehouse.

(viii)          A special crossing is a type of crossed cheque which consists of 

1. two parallel lines with no words between them.
2. two parallel lines with words ‘and Company’ between them
3. two parallel lines with drawee’s name between them 
4.  two parallel lines with drawer’s name between them
5. two parallel lines with endorser’s name between them.

(ix)              An insurance principle which restored the insured to the same position after the event is known as

1.  Insurable interest.   
2.  Utmost good faith.
3. Subrogation.   
4. Contribution.
5. Indemnity.

(x)                What are the two main stages in production?

1. Direct production and indirect production.
2. Direct production and secondary production.
3.  Commerce and industry.
4.  Primary and secondary industries.
5. Trade and industry.