An agreement that is enforceable in law is ________?
a contract
an offer
an acceptance
a consideration
Correct answer is A
A contract is an agreement or law binding the creation of business and enforceable in law.
A bill of exchange already accepted can be discounted by the holder in ______?
the central bank
at least two banks
his bank
any bank
Correct answer is D
Is an unconditional written order from one person to another to pay a specified sum of money to a designated person.
Which of the following legislation aims primarily at the protection of consumers?
Law of contract
Trade description Act
Company's Act
Partnership Act
Correct answer is B
This protects the consumers from false description of goods in terms of quality, quantity, size, place and date of manufacture
A Major funtion of commerce is to
facilitiate human satisfaction through exchange
eliminate trade barriers
provide raw materials for manufacturers
influence government policies
Correct answer is A
Commerce provides the advantages of specialisation. It helps to better satisfy human wants by collecting and distributing goods. Commerce provides the necessary link between the producers and consumers of goods.
One of the major reasons for merger is to
reduce the number of unskilled manpower
increase the number of skilled manpower
prevent liquidation
liberalize the market
Correct answer is C
Synergy: One of the main reasons why companies merge or acquire other companies is to create a synergy. Synergy is the concept that, the value of the combined companies will be greater than the joint value of the two individual companies. This will inturn prevent liquidation or folding up of a company