Commerce Past Questions And Answers
2931
The most commonly used commercial documents are?
- A. order notes, debit notes, invoices and quotations
- B. letters of enquiry, consignment notes, receipts and invoices
- C. credit notes, statement of accounts, depatch order and bills
- D. balance sheet, receipts, invoices and manifest
2932
Ships used for international transport are?
- A. trawelers
- B. yachets
- C. ocean liners
- D. launchers
2933
An announcement of a person's willingness to enter into a contract is referred to as
- A) A proxy
- B) An offer
- C) A consideration
- D) An acceptance
2934
The process of buying, selling and distribution of goods and services is
- A. retail trade
- B. commerce
- C. marketing
- D. marketing concept
2935
A document issued to the public by a company to advertise its share is known as
- A. prospectus
- B. tender
- C. share certificate
- D. trading certificate
2936
The ship that is used as a sea taxi is called
- A) Linens
- B) Tramps
- C) Tankers
- D) coasters
2937
Given:
Opening stock: N40,000.00
Purchases: N115,000.00
Closing stock: N60,000.00
Sales: N250,000.00
Which is the cost of goods sold?
- A) N155,000.00
- B) N95.000.00
- C) N50,000.00
- D) N30,000.00
2938
Insurance is necessary because of the need to
- A. pool resources together
- B. meet uncertainties in future
- C. make profit
- D. lend money to individuals
2939
The major determinant of fire insurance premium is the
- A. usefulness of the property to the owner
- B. type and structure of the property to be insured
- C. owner of the property to be insured
- D. extent of fire damage anticipated
2940
Which of the following refers to a voluntary association that represents a cross-section of business interests in an area?
- A. Manufacturers Association
- B. Chamber of Commerce
- C. Consumers Association
- D. Employers Association