All practice questions

Match the following organs of the African Union (AU) with their primary constitutional roles and responsibilities:

A Consumer Cooperative Society realized a net surplus of $1,200,000$ Naira at the end of its financial year. Member X holds $100,000$ Naira in share capital (representing $10\%$ of the total share capital) and made purchases worth $500,000$ Naira during the year (representing $20\%$ of total member purchases). In accordance with Rochdale principles, the society allocates a $5\%$ fixed interest on share capital and distributes the remaining surplus as patronage dividend. What is the total financial payout Member X will receive?

Although the 1954 Lyttelton Constitution formally established Nigerian federalism and instituted the position of Premier to lead executive governance in each region, how was executive leadership structured at the central (federal) level?

Under a standing order instruction in commercial banking, a creditor directly initiates the payment request to withdraw varying amounts of money from a debtor's account at irregular intervals.

Read the dramatic extract below carefully:

BOMA: Look at the ledger again, Uncle! The figures for the palm oil shipments do not match the receipts from the port inspector.
DAPO: (Closing the book slowly) Some numbers, my boy, are like shadows—they lengthen or shrink depending on where the sun stands.
BOMA: But the auditor arrives tomorrow from Lagos!
DAPO: Then we shall ensure the sun is at noon when he looks at them. Now, light the lantern and call no one.

What can be inferred about Dapo's intention regarding the upcoming audit?

Read the four lines from an unseen poem below. Match each numbered line to the primary figure of speech it exemplifies:

Line 1: "A painful joy enveloped every heart,"
Line 2: "The proud wind sang a mournful lullaby,"
Line 3: "His courage was a shield against the dark,"
Line 4: "The silver stars were shining in the sky,"

If a commercial bank receives an initial cash deposit of $\text{N}10,000$ and the Cash Reserve Ratio set by the Central Bank is $10\%$, what is the total credit that can be expanded across the banking system?

An agro-industrial enterprise carries out four distinct operational activities:
(i) Harvesting raw oil palm fruits from a plantation
(ii) Refining the crude palm oil in a processing plant
(iii) Distributing the refined oil to wholesalers via commercial transport
(iv) Providing personal legal advice directly to the managing director

Which of the following correctly categorizes activities (i), (ii), (iii), and (iv) into their respective occupational classes?

In international trade accounting, which of the following items is classified as a visible export in the calculation of a country's Balance of Trade?

Which factor of production is responsible for combining all other productive resources to organize business operations and receives profit as its reward?

Match each prose passage on the left with the dominant setting, atmosphere, or socio-cultural context it establishes on the right.

Which of the following infrastructural developments acts as a primary catalyst for the growth of commerce by bridging the geographical gap between producers and consumers?

Match each prose subgenre listed in Column A with its principal defining narrative characteristic in Column B.

In literary analysis, the stream of consciousness narrative technique is characterized by a structured, strictly chronological presentation of plot events that deliberately avoids capturing the fluid and fragmented flow of a character's internal thoughts.

Match each foreign trade component or category on the left with its corresponding real-world transaction or accounting definition on the right.

Match each commercial concept or dimension of Commerce on the left with its precise description or operational scope on the right.

In domestic commercial transactions, a direct debit mandate empowers the creditor to collect variable sums directly from the debtor's bank account on agreed dates, whereas a standing order is an instruction issued by the debtor requiring their bank to transfer only a predetermined fixed amount at set intervals.

A trader in Abeokuta receives a post office remittance instrument purchased by a customer in a fixed denomination to settle a small debt. To ensure safety in transit, the sender crossed the instrument so that it must be paid into a bank account. Which means of payment was utilized in this transaction?

In commerce, interest is the economic reward accrued to capital as a factor of production.

Match each key structural feature introduced by the 1954 Lyttelton Constitution with its corresponding legislative or administrative arrangement.