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 principle of insurance which ensures that an individual is restored to his former position after suffering a loss is
Acontribution
Bindemnity
Cinsurable interest
Dsubrogation
Eutmost good faith
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Question 72
neco2005
The association that encourages savings for the benefit of its members is known as
AConsumer co-operative society
BCredit and thrift co-operative society
CConsumer association
DProducer co-operative society
EProducer association
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Question 73
neco2004
The organisation of petroleum exporting countries (OPEC) is an example of a/n......
Aamalgamation
Bcartel
Cconsortium
Dholding company
Emerger
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Question 74
neco2004
The major divisions of commerce are
Abuying and selling
Bexport and import
Cforeign and home
Dtrade and aids to trade
Ewholesale and retail
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Question 75
neco2004
Which of the following is NOT part of the documents to be submitted for the registration of companies?
AA statement of nominal capital
BA statutory declaration signed by a solicitor
CArticles of Association
DMemorandum of Association
EThe balance sheet of the company
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Question 76
neco2004
The services offered by the following people .could be grouped under direct services. EXCEPT
Adoctors
Bentertainers
Clawyers
Dpolicemen
Eteachers
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Question 77
neco2004
A voluntary body formed by members of a particular branch of trade or industry to represent interest of members is known as
Achambers of commerce
Bcooperative society
Ctrade association
Dtrade commissions
Etrade union
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Question 78
neco2004
In a private limited liability company shares can be transferred
Aat the end of a financial year
Bby applying to the registrar of companies
Cwithout consulting other shareholders
Dwith the consent to other shareholders
Ewith the consent of the managing director
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Question 79
neco2004
The full amount of capital which a company is authorized to raise is stated in the
Aarticles of association
Bcertificate of incorporation
Ccertificate of trading
Dmemorandum of association
Eshare certificate
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Question 80
neco2004
In limited liability company, the liability of a member at the time of liquidation is limited to the amount of shares.
Aallotted
Bcalled up
Cpaid for
Duncalled up
Eunpaid for
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Question 81
neco2004
Trade may be defined as
Abuying and selling of goods
Bbuying and selling of goods and services
Cdistribution goods
Dproduction of goods
Eselling of goods and services
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Question 82
neco2004
The creative management function which promotes trade and employment by assessing consumer needs and initiating research and development to meet them is known as
Aadvertising
Bdistributing
Cmarketing
Dplanning
Etrading
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Question 83
neco2004
In international trade, ...... is used to show the exact country where the goods are imported.
Abill of lading
Bcertificate of origin
Cconsular invoice
Ddock receipt
Eshipping note
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Question 84
neco2004
Credit in business transaction is a. ......
Acompliment to a good customer
Bform of loan
Cmeans of saving money
Dprepayment by customers
Erebate for large purchases
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Question 85
neco2004
An industry whose major actors consists of those engaged in sourcing raw materials from the earth surface is known as .... industry.
Acommercial
Bconstruction
Cextractive
Dmanufacturing
Emining
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Question 86
neco2004
The value of money is measured by the
Aamount of goods and services a unit of it can purchase
Bamount of its unit people can hold
C. ease at which people can spend a unit of it
Dquantity of it in circulation
Erate of national development
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Question 87
neco2004
The right to retain possession of property of another until certain legitimate demands are satisfied is known as
Aagency
Bcopyright
Cguarantee
Dlien
Epatent
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Question 88
neco2004
Who among the following assess goods on arrival at a port?
AAgent
BCustoms
CImporter
DShipping company
EShip owner
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Question 89
neco2004
The prospectus of a company must include
Anames and addresses of management staff
Bthe certificate of incorporation
Cthe directors remuneration
Dthe value of annual dividend
Etypes of shares available and their cost
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Question 90
neco2004
Business transactions are usually based upon agreements known as
