Commerce Practice Test – Legal Aspect of Business (Questions with Answers and Explanations)

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Commerce Practice Test – Legal Aspect of Business (Questions with Answers and Explanations)

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  1. You are to attempt 5 random objectives questions ONLY.
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Musa rented a room to Adamu for N 1,500 part payment was made. Adam u brought Audu and Jacob his friends to stay in the room. The two friends later paid the balance of N 500 to Musa. Who is the offeree in this contract?  

A. Musa     B. Audu     C. Adamu     D. Jacob


Which of the following must be present in an agency by agreement?

A. Intentions   B. Will    C. Consent.    D. Authority


The legal aspect of business is designed to ____ 

A. protect infant industries from collapse
B. safeguard consumers from undue business practices
C. protect business organizations and consumers
D. encourage free exchanges among business


When old customers stick to the old place to buy goods and services, it is known as ______ 

A. goodwill     B. personal factor    C. window shopping     D. patronage


The least of the advantages of indigenization is that _____ 

A. the standard of living of the indigenes is improved
B. the economy is controlled by the nationals
C. entrepreneurial skill is developed
D. foreigner’s domination is avoided

 

 

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