Commerce Past Questions And Answers
2041
Explain the following means of payment in international trade:
- Bill of exchange;
- International bank draft;
- Travelers’ cheque;
- Electronic transfer.
2042
The distribution of profits based upon the level of patronage in the business is a common feature of?
- A. partnership firms
- B. public limited companies
- C. co-operative societies
- D. private limited companies
2043
Shipping services rendered by Nigeria to The Gambia would be classified by The Gambia as
- A. invisible imports
- B. invisible exports
- C. visible imports
- D. vivible exports
2044
A type of long-term loan granted to companies with fixed interest rate as well as with redeemable and irredeemable features is referred to as projects.
- A. debenture
- B. a bond
- C. a term loan
- D. an overdraft
2045
A clean bill of lading is so called because?
- A. it shows record of damaged goods
- B. it is not a stained bill
- C. it is a document of authority
- D. it shows no record of damaged goods
2046
Governments impose import duties for the following reasons EXCEPT
- A. to raise revenue for other services
- B. to act as a retaliatory measure against other governments
- C. to discourage the redistribution of income at home
- D. to protect home industries from external competition
2047
Activities aimed at creating an image foe an organization are known as?
- A. advertising
- B. market research
- C. public relation
- D. exhibition
2048
The principle of subrogation states that
- A. an insured person should be indemnifed to the tune of the amount insured
- B. an insurance company can stand in place of the insured in dealing with third party
- C. oly a person who is likely to sufferrd loss should take take out an insurance cover
- D. ther must be a close connection between the actual loss suffered and risk insured
2049
Capital to a business is technically?
- A. an expense
- B. availiability of local market
- C. an assets
- D. a profit
2050
A disadvantage of rail transport is that?
- A. it carries bulky goods only
- B. the cost of carriage is high
- C. it is not flexible
- D. it travels on schedule