Commerce Past Questions And Answers
The main role of advertising is to
- A. convince prospective buyers to buy
- B. show the actual shape, form and colour of the products
- C. inform people where to obtain goods and services
- D. captured the attention of people
Which of the following is an intangible assets of a firm?
- A. Goodwill
- B. Reserve
- C. Skilled personnel
- D. Rights issue
The business environment that takes into cognizance the age distribution, ethnic mix and educational level of the consumer is?
- A. demographic evironment
- B. economic evironment
- C. cultural environment
- D. natural environment
Which of the following is not an essential of a contract?
- A. Offer and acceptance
- B. Intention to create legal relations
- C. All contracts written out
- D. Legality of object
Wholesalers can be divided into?
- A. sales agent and brokers
- B. full service
- C. cooperative wholesale society and limited service wholesalers
- D. merchant wholesales and agent middlemen
Madam Tope insured her shop premises for the sum of D60,000, when insuring the shop,she did not tell the Insurance company that she cooks in the shop, but told the insurance company that she sells second hand clothes. Hence she insured her store against natural causes. Tope's shop got burnt yesterday by fire from the cooking pot.
Which of the following insurance principles will prevent her from claiming compensation?
- A. indemnity
- B. insurable interest
- C. Proximate cause
- D. Utmost good faith
which of the following principls stipulates that the insured must be in a position to suffer financial loss?
- A. indemnity
- B. proximate clause
- C. insurable interest
- D. subrogation
The safe keeping of goods produced until they are needed is?
- A. hoarding
- B. marking
- C. packaging
- D. warehousing
One of the functions of the Nigeria Ports Authority is the provision of
- A. carrier services to ensure speedy delivery
- B. facilities to enhance the speedy loading and offloading of cargoes
- C. facilities to ensure that goods get to the destinations
- D. shelter for operators of cargoes
One of the disadvantages of sole proprietorship is
- A. limited liability
- B. pride of ownership
- C. unlimited liability
- D. secrecy of annual reports