(a) Distinguish between commercial banks and merchant banks.

(b) Explain each of the following:
(i) Order cheque
 (ii) Bearer cheque
 (iii) Certified cheque
 (iv) Non-Negotiable cheque.
 

Explain five ways by which NITEL has contributed to the success of business in Nigeria. 
 

(a) What is personal selling?

(b) Explain four reasons why firms engage in personal selling. 
 

(a) Describe four obligations of the employer to the employee.

(b) State four duties of the employee to the employer. 
 

(a) What is planning?

(b) Explain five advantages of delegation of authority.