Which of the following is a feature of mail order business?
Employs many shop assistants
Practices self service
Provides attractive shop front
Rents large warehouse
Correct answer is B
Following are the salient features of a mail order business:
(1) This business does not require much capital.
(2) The business can be carried even without owning a shop, sitting at house.
(3) In a mail order business there is no need of middlemen, as the goods are directly sent to the customers by post.
Current account holders withdraw money by means of
credit card
draft
withdrawal form
cheque
Correct answer is D
Current account holders use cheques to withdraw money from their bank accounts. A cheque is an order to a bank to pay a stated sum from the drawer's account, written on a specially printed form.
The West African Clearing House
The British Bank for West Africa
The West African Currency Board
The African Development Bank
Correct answer is C
The West African Currency Board was established in October 1912 following the Report of a Departmental Committee set up by the Secretary of State to enquire into the currency in use in British West Africa. It served as a central bank for the member states
The Central Bank's monetary policy instrument by which it buys and sells treasury bills is known as
Open Market Operation
Bank rate
Cash reserve ratio
Special deposit
Correct answer is A
Open market operations (OMO) refers to when the Federal government through the central bank purchases and sells Treasury securities on the open market in order to regulate the supply of money that is on reserve in banks, and therefore available to loan out to businesses and consumers.
An efficient transport system enables a trader to
widen the market for his products
avoid customs examination of goods
adopt better price policy
reduce cost of production
Correct answer is A
It enable a trader to distribute goods to a wider market range.