All practice questions

A furniture maker who initially crafted wooden chairs exclusively for his own household's domestic use later expanded his operation by purchasing power machinery to produce standardized office desks for sale to commercial distributors. Which of the following statements correctly describes the economic nature of this shift?

An investor analyzing capital securities of a listed public limited company seeks an instrument that yields a fixed dividend rate and grants priority in asset distribution upon liquidation, but carries no voting rights at the annual general meeting. Which security matches this investor's requirement?

A commercial enterprise based in Ibadan purchases raw cashew nuts in bulk from farmers in Oyo State. It sells a portion of the bulk purchase to local processing firms in Ogun State and ships the remaining quantity to a food processing company in Vietnam. Within the classification of trade, how is the transaction involving the shipment of cashew nuts to Vietnam classified?

During the military administration of General Ibrahim Babangida (1985–1993), which organ served as the supreme legislative and policy-making authority in Nigeria, replacing the traditional Supreme Military Council?

Read the prose passage below carefully:

'For months, the villagers lived in dread of the mythical shadow-beast lurking in the sacred forest. Armed with ancient spears, the chief warrior finally cornered the creature in its dark lair, raising his weapon for a mortal struggle to save his people. But as his torch lit up the cave, the feared monster was revealed to be nothing more than a harmless, overgrown hedgehog tangled in a discarded net.'

Which narrative plot element is primarily demonstrated at the turning point of this conflict?

Match each commercial document used in home trade listed on the left with its correct function or definition on the right.

An astronomical telescope in normal adjustment consists of an objective lens with a focal length of $60\text{ cm}$ and an eyepiece with a focal length of $5\text{ cm}$. What is the angular magnification produced by the telescope and the separation distance between the two lenses?

A trading firm recorded current assets of ₦450,000, current liabilities of ₦180,000, fixed assets of ₦850,000, and long-term liabilities of ₦200,000. What is the working capital of the firm in Naira?

Match each public limited company statutory document or security concept on the left with its defining legal feature or financial function on the right.

Read the unseen prose extract below carefully:

'The village elder stood silently beside the cracked, dusty bed where the river once flowed. For three consecutive seasons, dark clouds had gathered at the horizon only to scatter without dropping a single bead of rain. He stared at the hollow silos near the compound, then turned toward the distant ridges where columns of white smoke rose from neighboring altars.'

Based on the extract above, evaluate whether the following statement is TRUE or FALSE:

The community is experiencing a severe drought that has resulted in a critical food shortage.

Match each foreign trade payment instrument in Column A with its correct functional description in Column B.

The financial records of Kalu Trading Enterprises at the end of a trading period show the following balances:

- Fixed Assets: $\text{₦}800,000$
- Stock (Inventory): $\text{₦}250,000$
- Trade Debtors: $\text{₦}150,000$
- Cash at Bank: $\text{₦}100,000$
- Trade Creditors: $\text{₦}180,000$
- Bank Overdraft: $\text{₦}70,000$

What is the capital employed of the business?

In the Nigerian financial system, the Securities and Exchange Commission (SEC) and the Nigeria Deposit Insurance Corporation (NDIC) exercise distinct regulatory and supervisory mandates. Match each regulatory intervention in the left column with its corresponding agency mandate in the right column.

Match each Nigerian specialized development bank listed on the left with its primary mandate or target sector on the right.

Match each productive activity with its corresponding classification based on the sector and type of production.

Match each retail business organization format listed on the left with its defining operational or structural characteristic on the right.

Match each prose narrative device on the left with its primary structural function on the right.

Match each unseen literary extract (Extract I–IV) with the predominant literary device it exemplifies.

Match each post-independence Nigerian military Head of State with the key structural or administrative reform implemented during their regime.

Match each specialized poetic genre in List A with its defining thematic focus or functional context in List B.