Commerce Past Questions And Answers
Which of the followingis a modern trend in retailing ?
- A. Kiosk
- B. Mobile shop
- C. Vending machine
- D. Tied shop
The evolution of commerce in Nigeria is traceable to the?
- A. period of barter economy as human needs became limitless
- B. desire by human beings to satify their needs through the services of other people inthe society
- C. development of human civlizations and the desire to meet their needs
- D. primitive stage of existence of human beings
One of the disadvantages of rail transport is
- A. It is not flexible
- B. It carries bulky goods
- C. It works at intervals
- D. Cost of transportation is high
Balance of payment problems arise if a country's?
- A. exports is more than imports
- B. imports is more than exports
- C. currency devaluation
- D. invisible exports is more than visible exports
Hire purchase is advantageous to the seller in that
- A. it elevates his living standard
- B. people pay instalmentally
- C. his turnover will increase
- D. it enhances high level of patronage
A document that indicates obligation that is transferable by delivery and endorsement is a?
- A. bill of lading
- B. bill of exchange
- C. documentary evidence
- D. negotiable instrument
Use the information below to answer question 7 and 8. Ojo purchased the following items from Sani at the specified prices on credit: 200 cartons of milk at N1,000 per carton; 50 bags of rice at N3 000 per bag. Sani allowed 10% trade discount and 5% cash discount, if payment is made within the agreed period. Ojo paid within the agrred period. What was the the amount paid by Ojo?
- A. N382,500
- B. N425,000
- C. N363,375
- D. N61,625
The merger of two companies producing the same type of products is an example of
- A) vertical merger
- B) horizontal merger
- C) lateral merger
- D) an acquisition
A bill of exchange already accepted can be discounted by the holder in ______?
- A. the central bank
- B. at least two banks
- C. his bank
- D. any bank
A person who gave his building as a security for loan is known as a
- A. trustee
- B. mortgagee
- C. mortgagor
- D. guarantor