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 body that organizes, promotes and participates in local and foreign trade fairs is the
AMinistry of Commerce and Tourism
BMinistry of finance
CChambers of Commerce
DExport Promotion Council
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Question 762
jamb1998
An example of a consumer protection agency is the?
ANigeria Bar association
BNigeria Medical Association
CFerderal Environmental Protection Agency
DManufacturers Association of Nigeria
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Question 763
jamb1998
Which of the following is a disadvantage of nationalization
AIt promotes poor economic planning
BThe cost of services is not determined by by market forces
CIt may lead to rationalization of resources
DThe development of local skills and technologyis retarded
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Question 764
jamb1998
The most essential element of a product is the
Aprice
Butility
Cdesign
Dcolour
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Question 765
jamb1998
A person who is cheated in business transaction can seek legal remedy
Aeven if the agreement is verbal and the amount involved is large
Bonly if the business is a sole proprietorship whose owner is known
Cregardless of the form of business organization
Donly if the transaction is documented in a contract
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Question 766
jamb1998
A minor is not permitted to enter into a valid contract because he
ACannot pay the consideration
BIs too young to interpret the law
CIs young in the eye of the law
DMay not be able to write the contract
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Question 767
jamb1998
Sabo and Gambo entered into a contract for the sale of two baskets of tomatoes belonging to Gambo. Before the date the date of delivery and without any default by Gambo, the tomatoes were stolen. This is an example of termination of contract by
Abreach
Bperformance
Cfault
Dfrustration
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Question 768
jamb1998
An agent must not make any secret profit in the performance of his duties but can be rewarded by his principal through
Aremuneration and indemnity
Bpayments of commision and salary
Cgranting of business concessions
Dforwarding of business links
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Question 769
jamb1998
Personnel activities that promote the general image of an organization are part of
Aadvertising
Bsales promotion
Cpublic relations
Dbusiness correspondence
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Question 770
jamb1998
The oral presentation iv a conversation with one or more prospective buyers for the purpose of making sales is
Abranding of goods
Bpersonal selling
Cpackaging
Dpublicity
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Question 771
jamb1998
Product X was introduced into the market at N4.00 with its cost of product at N3.90 while competing products are at N4.50. What pricing policy are producers of X adopting?
Amarket skimming
Bmarket penetration
Cproduct live promotion
Dabove the market pricing
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Question 772
jamb1998
An underlined principle in the marketing of goods is that firms should
ATrain their personnel
Bbe consumers oriented
Cadvertise the goods
Dsell through outlets
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Question 773
jamb1998
(i) Companies must be registered as private limited liability companies. (ii)Companies must not have less than 100 shareholders (iii) No shareholder may have more than 75% of issued shared capital. What of the above are requirements for admission into the second-tier securities market?
Ai and ii only.
Bi and iii only
Ci, ii and iii only
Dii and iii only.
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Question 774
jamb1998
The type of securities that the stock exchange deals with are
Awarrants, currency notes, money orders and postal orders
Bcheques, bankdrafts , warrants and promissory notes
Cbonds ivory, treasure bills, debentures and warrants
Dstocks, shares, bonds and warrants.
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Question 775
jamb1998
The assets, liabilities and general management of a distressed bank may be taken over by?
AInternational Bank for Reconstruction and development
BNigeria Industrial Development Bank
CNigeria Banks Deposit Insurance corporation
DNigeria Bank for Commerce and Industry
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Question 776
jamb1998
The most important difference between community banks and peoples’ bank is that the?
Alatter is owned solely by government while the former are not
Bformer cater for ruler dwellers while the latter cater for both rural and urban dwellers
Cformer are service oriented while the latter are profit oriented
Dlatter advances loans to the public while former advance loans to the rural dwellers only.
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Question 777
jamb1998
Insurance companies operate on the principal of indemnity. This means that an insured person or firm collector
AOnly half of the loss suffered
Bdouble the value of the losses suffered
Cthe total sum of the premium paid prior to the loss
Ddamage claims equal to the loss suffered.
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Question 778
jamb1998
the two main categories under which marine losses fall into are?
Aparticular loss and average loss
Bactual loss and average loss
Ctotal loss and partial loss
Dvoyage policy loss and time policy loss
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Question 779
jamb1998
The document with which a manufacturing enterprises releases stock
Of raw materials to the factory for product is called?
Astock releases form
Bgoods received note
Cstock issues voucher
Dmaterials release note
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Question 780
jamb1998
When a price is quoted at F.O.B. it means that the price?
Aexcludes loading charges incurred in bringing the goods to port of destinction
Bexclude all necessary shipping charges payable for insurrance
Cincludes all charges payable on shipping a consignment to the port destination
Dincludes charges payable for for loading goods onto the ship
