Commerce Past Questions And Answers
A person who wants to undertake an insurance policy usually completes?
- A. a proposal form
- B. a promotion form
- C. an application form
- D. an agreement form
A contract that is acknowledged before the law court is referred to as
- A. informal contract
- B. formal contract
- C. contract of records
- D. specialty contract
Which of the following is not a principle of insurance
- A. Insurable interest
- B. Subrogation
- C. Surrender value
- D. Proximate cause
Endowment policy in insurance business is an aspect of
- A. accident insurance policy
- B. fidelity guarantee insurance policy
- C. motor vehicle insurance policy
- D. life assurance policy
The type of advertising that seeks to persuade consumers to buy a particular product is
- A. Informative advertising
- B. Competitive advertising
- C. Persuasive advertising
- D. mass and specific advertising
Use the conversion below to answer question 10 any 11 MUSA: Taiwo why are you in business? TAIWO: To optimized profit, provide quality product and discharge my social responsibilities. What of you, Okon and Kalu OKON: I am in business to cater for the need of the consumers at all costs. KALU: I am in business to make profit, provided quality product at reasonable prices and establish a good reputation for myself.
- A. Musa
- B. Okon
- C. Taiwo
- D. Kalu
The process of dividing tasks into jobs and departments and delegating authority is known as
- A. directing
- B. leading
- C. organizing
- D. staffing
The type of communication from a superior to a subordinate in an organization is referred to as
- A. downward communication
- B. upward communication
- C. lateral communication
- D. horizontal communication
(a) The chart above gives the main divisions of Commerce, complete the chart by filling in the blank spaces labeled (i) to (viii).
(b) Explain the following, give one example of each:
(i) Primary production (ii) Secondary production (iii) Tertiary production.
Bank overdraft as a short term source of fund is
- A. A current liability
- B. An overdrawn account
- C. Grade to a newly opened account
- D. Repayable after more than a year