Mention and explain five functions performed by the Central Bank of Nigeria showing how they facilitate commercial activities. 
 

Business relationships are deeply rooted in the law of contract'.
(a) What is a contract?

(b) State the essential elements of a valid contract.
(ii) Briefly discuss any three of them. 

Mention and explain five ways in which a business discharges its social responsibilities to the society. 
 

The following are the trading of Zainab Trading Co. Ltd, for the year ended 31st December, 1986.

Creditors        20,000 
Premises        20,000  
Machinery       20,000 
cash                20000
Debtors           30,000
stock               50,000
cost of goods sold 100,000
sales                200,000
plant                 30,000
Rent                 10,000

From the above, calculate the (a) Fixed assets; (b) working capital; (c) gross profit (d) net profit.

 (a) What is marketing?

(b) Distinguish between marketing and selling.

(c) Explain  five functions of marketing.