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.
Which of the following is not a characteristic of Charter party?
AIt is a contract for carriage by sea
BIts document shows freight charges and destination
CThere are time, voyage and charter by demise
DThe whole or part of a ship is leased
EAn association of ship owners
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Question 762
waec1997
Which of the following is a disadvantage of air transport?
AHigh speed
BLess risk
CHigh cost
DMoves on schedule
EConveys perishable goods
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Question 763
waec1997
Which of the following is not true of branding?
AFacilitates identification of goods
BLeads to increased sales and deeper loyalty
CMakes market segmentation easier
DEncourages pilfering
EFacilitates advertising
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Question 764
waec1997
The difference between the total amount owed to a country and the total amount owed by it is
Atrade surplus
Bterms of trade
Ctrade gap
Dbalance of trade
Ebalance of payments
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Question 765
waec1997
Which of the following are true of a bill of lading? i. it is a means of payment in foreign trade. ii. it is document of title to goods. iii. it is a contract of carriage. iv. it is usually drawn in triplicate.
Ai and iii only
Bi, ii and iii only
Cii and iii only
Dii and iv only
Eii, iii and iv only
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Question 766
waec1997
The major disadvantage of pipeline transportation is that it
Adoes not involve toomuch labour
Breduces road congestion
Cis fast
Dis not easy to detect damages
Eis not affected by weather
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Question 767
waec1997
Which of the following covers damages to the body of a ship and its machinery?
AFreight insurance
BCargo insurance
CGeneral average insurance
DVoyage policy
EHull insurance
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Question 768
waec1997
Which of the following is true of a merger?
AOriginal names of the companies are retained
BExpansion is restricted
CAll debts are written off
DThe company formed aquires a new name
EAll workers are paid bonuses
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Question 769
waec1997
A company which acquires more than 50% voting shares of another company is called?
Aa trust
Ba cartel
Can amalgamation
Da consortium
Ea holding company
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Question 770
waec1997
Which of the following is usually sent to prospective buyer when the seller expects payment of the goods dispatched?
APro-forma invoice
BAdvice note
CConsignment note
DStatement of account
EDelivery note
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Question 771
waec1997
Which of the following indicates special crossing on a check? Two parallell lines with
A"& Co" and "not negotiable"
Bthe abbreviation "& Co" only
C"account payee" only
Dthe name of a particular bank
E"not negotiable" only
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Question 772
waec1997
Which of the following is not a function of the Nigerian Ports Authority?
AChecking smuggling activities
BHandling of goods
CCollection of harbour dues
DDecongestion of ports
EProvision of warehouse facilities
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Question 773
waec1997
Which of the following makes it possible for people to collect their letters at their convenient time ?
AFranking
BRecord Delivery
CPost Office Box
DBusiness Reply Service
ETelex service
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Question 774
waec1997
The document stating the particular country from which goods are imported is called
Acertificate of origin
Bexport invoice
Cconsular invoice
Dexport licence
Eletter of hypothecation
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Question 775
waec1997
Which of the following is responsible for the maintenance of the quality of goods produced
ACustoms and Exercise Department
BSanitary Inspectors
CStandards Organization of Nigeria
DFederal Environmental Protection Agency
EManufacturers Association of Nigeria
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Question 776
waec1997
A design which distinguishes the goods of one producer from those of others is called
Apatent-right
Bcopyright
Ctrade mark
Dlicence
Efranchise
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Question 777
waec1997
The law stipulating that labels should contain full details about a product is known as the
AHire-purchase Act
BPrice Control Act
CStandards Organisation of Nigeria Act
DTrade description Act
ESale of Goods Act
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Question 778
waec1997
Which of the following is not considered when siting a retail shop?
AAdvertising
BRent
CAccessibilty
DTarget population
EProximity to source of supply
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Question 779
waec1997
Which of the following is not covered by fire insurance policy?
AConsequential loss
BGas explosion
CDomestic boilers
DLightning
EKerosene explosion
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Question 780
waec1997
The insurance principle which expects the insured and the insurer to disclose all facts about a proposed contract is called
