Commerce Past Questions And Answers
The service of a retailer is part of production because it
- A. creates a link between consumers and producers
- B. enables finished goods to reach consumers
- C. increases consumers' standard of living
- D. is a commercial occupation
That portion of the share capital which the company has asked the shareholders to pay for is known as
- A. authorized capital
- B. paid-up capital
- C. issued capital
- D. called-up capital
Which of the following is the most important business resource?
- A) money
- B) management
- C) materials
- D) manpower
Which of the following is the most suitable means of transporting bulky goods from Lagos to Kaduna? By
- A. Train
- B. Aeroplane
- C. Ship
- D. Lorry
Which of the following gives the correct order in which the listed documents are used?
- A) debit note, order, delivery note, invoice and statement
- B) order, delivery note, invoice, debit note and statement
- C) statement, order, invoice, delivery note and debit note
- D) invoice, order, statement, debit note and delivery note
Labour as an input in production can be motivated by
- A. training
- B. profit
- C. remuneration
- D. promotion
The agreement of insurers to spread risks among themselves is a major feature of?
- A. reinsurance
- B. life insurance
- C. underwriter
- D. marine insurance
In CIF contracts, risk passes at the time of shipment but the property does not pass until?
- A. there is physical transfer of goods
- B. the shipping manifest are signed
- C. the shipping documents are transferred
- D. the goods on board are delivered
The price quotation where the buyer uses his own means to collect goods from the producer's warehouse is
- A. F.O.B
- B. ex-works
- C. F.A.S
- D. F.O.R
An aid to trade associated with communications is?
- A. advertisement
- B. transportation
- C. warehousing
- D. insurance

