Commerce Past Questions And Answers
Which of the following is the main purpose of a third party insurance? To
- A. indemnify an injured outsider
- B. indemnify the insured
- C. protect the vehicle against theft
- D. compensate the driver for injuries sustained
A document that instructs an agent to buy goods from a named firm is
- A. proforma invoice
- B. open indent
- C. consular invoice
- D. closed indent
The differences between the central bank and commercial bank is that the former ______
- A. discount treasury bills
- B. give loans to the public
- C. saves valuable of individual
- D. serves as lender of last resort
A nation's earnings from tourism are classified as
- A. visible exports
- B. invisible exports
- C. visible imports
- D. invisible imports
In Nigeria, the body ensures that its members operate according to their professional ethics is the?
- A. SON
- B. NPF
- C. MAN
- D. NAFDAC
One of the functions of a retailer is the?
- A. financing of production activities
- B. provision of credit facilities to relations
- C. provision of jobs for customers
- D. breaking of bulk
The most important piece of legislation governing business and commercial activities in Nigeria currently is the
- A) Companies Decree, 1968
- B) Trade Disputes Decree, 1976
- C) Companies and Allied Matters Decree, 1990
- D) Banks and Other Financial Institutions Decree, 1991
When an insurance company indemnifies the insured and takes over his rights, this is known as?
- A. abandonment
- B. subrogation
- C. proximate cause
- D. contribution
A country's visible balance of payment is made up of
- A. interest on loans to foreign countries
- B. profit from investment abroad
- C. earnings from goods exported
- D. dividend earned from companies
The practice of giving a particular name to a product by a manufacturer is
- A. branding
- B. standardization
- C. publicity
- D. advertising