Study and practice Commerce past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
The insurance policy that specifically covers damage to structure or machinery of a ship is known as.......insurance.
Acargo
Bhull
Cmarine
Dship owners
Etime
View Explanation & Discuss
Question 1223
neco2004
A 'duty bill' is used to indicate whether the goods arriving a port are........
Abeing awaited
Bclean
Cdamaged
Ddelivered
Eon transit
View Explanation & Discuss
Question 1224
neco2004
Department stores are usually located in
Aareas free from traffic jam
Bareas where low income earners live
Ccity centres
Dlow rental areas
Esuburban town
View Explanation & Discuss
Question 1225
neco2004
One way of restricting the quantity of goods which may be imported into a country is by
Abalance of payment
Bdumping
Cquotas
Dtariff
Eterms of trade
View Explanation & Discuss
Question 1226
neco2004
A receipt is a/an
Aacknowledgement of money received
Bcredit instrument
Clist of goods received
Dlist of goods to be supplied
Eorder for the goods to be purchased
View Explanation & Discuss
Question 1227
neco2004
All these are instruments of consumer protection EXCEPT
ABill of Exchange Act of 1882
BFood and Drug Department of Ministry Health
CSale of Goods Act of 1979
DStandard Organization of Nigeria
ETrade Description Act of 1968
View Explanation & Discuss
Question 1228
neco2004
At an auction sale, an auctioneer acts as a/an..........
Aagent
Battorney
Cbroker
Dprincipal
Erepresentative
View Explanation & Discuss
Question 1229
neco2004
Profit in partnership is shared according to
Aagreement in the deed
Bamount contributed by each partner
Cnumber of hours put in by each partner
Dseniority of partner
Etypes of partners
View Explanation & Discuss
Question 1230
neco2004
All are aids to Trade EXCEPT
Aadvertising
Bbanking
Cretailing
Dtransportation
Ewarehousing
View Explanation & Discuss
Question 1231
neco2004
The last link in the chain of distribution is the
Aconsumer
Bmanufacturer
Cproducer
Dretailer
Ewholesaler
View Explanation & Discuss
Question 1232
neco2004
Brand name is used to
Adifferentiate one’s goods with others
Bmake business much easier
Cmake selling more convenient
Dpackage products
EStandardize goods
View Explanation & Discuss
Question 1233
neco2004
The term “enterprise” denotes the ability to
Abear risk
Bcontrol other factors of production
Cmaximize profit
Dorganize other factors of production
Eplan for other factors of production
View Explanation & Discuss
Question 1234
neco2004
Under utmost good faith as an insurance principle, a person must
Abelieve in the sincerity of the insurance company
Bcommunicate with the insurance company
Cdisclose all material facts to the insurance company
Dhave utmost personality
Epay outstanding premium
View Explanation & Discuss
Question 1235
neco2004
The concept that the satisfaction of the consumer's wants is to be emphasized at all stages of production and distribution is known as consumer...........
Aautonomy
B. independence
Cpreferential
Dproduction
Esovereignty
View Explanation & Discuss
Question 1236
neco2004
Which of the following is NOT an importance of warehousing?
AEnsures that unexpected fluctuation in consumer’s needs are met through reserves
BGives a feeling of security to the traders
CProtects goods against pilfering
DProvides for economy of scale by maintaining steady rate of production
EProvides protection and security for goods or products from going bad
View Explanation & Discuss
Question 1237
neco2004
A credit note is used to
Ainform the buyer that he can buy more goods on credit
Binform the buyer that his account has been credited
Cinform the customer about his state of solvency
Dtell the customer that his account is in red
Ewarn the customer that his debt is over due
View Explanation & Discuss
Question 1238
neco2004
Which of the following is NOT a function of the central bank?
ABanker's bank
BGovernment's bank
CLender of last resort
DPrinting of currency
EServicing of National debt
View Explanation & Discuss
Question 1239
neco2004
A bill of lading is best described as the
Acertificate of quality of goods
Bcertificate of value for the goods on board
Cdocument of title to the goods on board a ship
Ddocument showing where the goods are going to
Eevidence of payment of custom duties
View Explanation & Discuss
Question 1240
neco2004
The excess value of all the assets of a business over the value of its liabilities is called
