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Commerce Past Questions

Refresh Questions
A distinguishing characteristic of labour is that it is
  • A. constant
  • B. expensive
  • C. mobile
  • D. cheap
Which of the following is a characteristic of a bearer cheque?
  • A. it is made with transverse lines
  • B. it is made payable to whoever presents it
  • C. It is made without teraservers lines
  • D. it is only payable into the payee’s account
The most effective but limited medium of advertising in Nigeria is
  • A. billboard
  • B. television
  • C. newspaper
  • D. radio
A group of specialized functions of marketing is
  • A. buying, selling, storing and information
  • B. buying, selling, advertising and packaging
  • C. buying, selling, labelling and promotion
  • D. buying, selling, skimming and pricing.
An insured risk which occurs accidentally as a result of defects in a ship is
  • A. a voyage policy
  • B. a total loss
  • C. an emergency
  • D. a particular average
Which of the following is not contained in an advice note?
  • A. Type of goods
  • B. Price of goods
  • C. Date of dispatch
  • D. Means of dispatch
The major determinant of fire insurance premium is the
  • A. type and structure of the property to be insured
  • B. usefulness of the property to the owner
  • C. owner of the property to be insured
  • D. extent of fire damage anticipated.
The major procedures in the purchase and sale of goods are enquiry
  • A. quotation, order and invoice
  • B. placement, order and invoice
  • C. bargain, order and invoice
  • D. order, sale and invoice.
A private company is one which
  • A. must publish its audited account
  • B. floats its shares on the stock exchange market
  • C. restricts the rights to transfer its shares
  • D. is owned by a maximum of twenty members merger
An announcement of a person's willingness to enter into a contract is referred to as
  • A. a proxy
  • B. an offer
  • C. a consideration
  • D. an acceptance.