Commerce Past Questions And Answers
191
A group of trims that produce similar goods or sen/ices is called?
- A. an industry
- B. a trade association
- C. a cartel
- D. a holding company
192
Which of the following is a limitation of division of labour?
- A. Decline in craftmanship
- B. Monotony of work
- C. Reduction in output
- D. Reduction in labour force
193
Carriage forward on an invoice means
- A. carriage will be paid next time
- B. carriage will be paid by seller
- C. carriage will be paid by buyer
- D. carriage has been paid
194
An aspect of the law which allows an exclusive right for a limited number of years is a
- A. copyright
- B. trade mark
- C. raffication
- D. patent
195
The scope of commerce is limited to
- A) home and foreign trade
- B) wholesale and retail trade
- C) trade and aids-to-trade
- D) wholesale and entrepot trade
196
Paper money originated in form of receipt given by?
- A. money lenders
- B. goldsmiths
- C. bankers
- D. traders
197
Which of the following is a commercial service?
- A. Transporting
- B. Garri processing
- C. Oil drilling
- D. Lumbering
198
How many countries form ECOWAS
- A. 17
- B. 16
- C. 15
- D. 14
199
A group of retailing shops under one management and selling then same products is known as?
- A. multiple shop
- B. supermarket
- C. department stores
- D. variety store
200
A house insured against damage by flood was burnt down and the owner had no claim. which of the following principles prevented him from making a claim
- A. indemnity
- B. contribution
- C. insurable interest
- D. proximate cause

