Commerce Past Questions And Answers
1671
A shipping document detailing the charges for carrying a particular cargo for a specified voyage is?
- A. dock warrant
- B. freight note
- C. bill of lading
- D. mate's receipt
1672
A trader started business with #30,000 and spent #20,000 in buying premises and equipment, the balance of #10,000 is his
- A. authorised capital
- B. fixed capital
- C. working capital
- D. capital owned
1673
In a limited partnership, the liability of most of the partners is?
- A. pegged
- B. unlimited
- C. limited
- D. unpredictable
1674
The import of foreign-produced goods to be re-exported is known as
- A. domestic trade
- B. wholesale trade
- C. entrepot trade
- D. counter trade
1675
Which of the following is not the duty of an agent to the principal?
- A. Acting in good faith
- B. Rendering accurate account
- C. Disclosing all profits made
- D. Making secret profit
1676
The maximum number of shareholders in a public liability company is
- A. twenty
- B. one hundred
- C. fifty
- D. unlimited
1677
An advantage of a public limited company over a private one is the?
- A. limited liability of shareholders
- B. easy transferability of shares
- C. access to retained earnings
- D. less taxation by government
1678
Mobile shopping involves selling
- A. from motor van
- B. at a particular spot in the city
- C. in multiple shops only
- D. from a vending machine
1679
A core investor in the current phase of privatization in Nigeria is one who?
- A. can afford to buy most of the shares of the enterprises
- B. will be at the core of the enterprises
- C. can mobilize foreign currency equivalent to the value of the enterprises
- D. has the technical know-how of the enterprises
1680
The circulating capital of a business enterprise is classified into
- A. Cash, work-in-progress and debtors
- B. Cash, Vehicles, land and building
- C. debtors, stocks of raw materials and fitting
- D. Prepayments, debtors and equipment