(a) State five reasons for governments participation in business

(b) Explain five problems encountered by government businesses. 

(a) Write in full the following abbreviations as used in commerce:

(i) COD (ii) CIF (iii) FOB; (iv) E and O.E. 

(b) The sale of consumer goods costing N 100,000 attracts a cash discount of 7½% and a quantity discount of 5%. Calculate the:

(i) value of the quantity discount

(ii) value of the cash discount

(iii) net amount of money payable by the buyer. 
 

 Compare a public limited company with partnership under the following headings

(a) formation: (b) Ownership and Control: (c) Source of Capital: (d) Liability: (e) Dissolution:.
 

(a) Define a multiple shop

(b) State three features of a multiple shop

(c) Explain three advantages and three disadvantages of a Multiple shop.

(a) State five problems of barter system of trading

(b) Explain five ways in which the introduction of money has solved the problems stated in 3 (a) above.