COMMERCE 18th 7am
1 :- A major hindrance to maximum use of computer in Nigeria is
CORRECT ANSWER =
Poor power supply
2 :- Which of the following is NOT a legal entity
CORRECT ANSWER =
Sole propeirtorship
3 :- The implication of crossing cheque as a manager
CORRECT ANSWER =
Business acount cannot be affected
4 :- the provision of information about the existence of a product to potential buyers is
CORRECT ANSWER =
Commercial occupation
5 :- one of the demerits of trade by barter is
CORRECT ANSWER =
Double coincedence
6 :- the asserts that can be easily be converted into cash at a short notice is
CORRECT ANSWER =
Working capital
7 :- calculate the average stock
CORRECT ANSWER =
N14000
8 :- in production,wages is the reward for
CORRECT ANSWER =
labour
9 :- the actual dealer in securities in the stock exhange market is
CORRECT ANSWER =
Jobber
10 :- a business organization can discharge its social responsibility to its community by
CORRECT ANSWER =
building public health centres
11 :- the warehouse owned and operated by individuals is
CORRECT ANSWER =
manufactures warehouse
12 :- one of the roles of bureau de change in an economy is
CORRECT ANSWER =
provision of foreign currency to end user
13 :- one of the major functions of commerce is to
CORRECT ANSWER =
Facilitate human sastifaction I an exchange economy
14 :- a voluntary association formed by independent ifrms for the purpose of executing a large capital project is a
CORRECT ANSWER =
Consortuim
15 :- a company that invites customers to participate in lottteries to stimulate the sales of its product its engaged in
CORRECT ANSWER =
Sales promotion
16 :- calculate the turnover of the business
CORRECT ANSWER =
N10000
17 :- the process by which goods are tranferred from producers to customers is an aspect of
CORRECT ANSWER =
Tertiary production
18 :- in a valid contact,an offer is expected to be enforceable by
CORRECT ANSWER =
Law
19 :- the supremacy of the customer in determining what a firm has to produce is reffered to as
CORRECT ANSWER =
Consumer sovereignty
20 :- the difference between nigerias export and import of goods is refereed to as
CORRECT ANSWER =
balance of trade
21 :- a partnership deed stipulates that a partner making advance beyond the amount of capital which he has agreed to subscribe its entitled to interest of 5%.this implies that the partner
CORRECT ANSWER =
recieves 5% interest on the advance made
22 :- one of the importanmce of tourism in nigeria is that is
CORRECT ANSWER =
Creates job opurtunities
23 :- Services, industry and commerce are the classification
CORRECT ANSWER =
Occcupation
24 :- The term of payment in which the buyer must enclose the money when the order is placed is reffered to as
CORRECT ANSWER =
C.W.O
25 :- The department in an organisat6ion responsible for recruitment and staff welfare is
CORRECT ANSWER =
Personal department
26 :- One of the services rendered by a wholesaler to the retailer is
CORRECT ANSWER =
Providing credit facilities
27 :- For delegation of duty to be more effective, it requires adequate
CORRECT ANSWER =
authority
28 :- Trading in products and services through the internet is known as
CORRECT ANSWER =
e-commerce
29 :- Which of the following is the most flexible form of transportation?
CORRECT ANSWER =
pipeline
30 :- The function of money that encourages the keeping of wealth for future use in
CORRECT ANSWER =
store of value
31 :- John ordered for cement from Lancote cementcompany. He can be informed that the goods are on transit through
CORRECT ANSWER =
advice note
32 :- One of the major barrier in foreign trade is
CORRECT ANSWER =
difference in lannguage
33 :- Adeolu borrowed N65000 from a commercial bank and deposited his life insurance certificate with the bank. The certificate deposited serve as a
CORRECT ANSWER =
collateral
34 :- The basic idea behind marketing concept is
CORRECT ANSWER =
public relation
35 :- Which of the following is a feature of retailers?
CORRECT ANSWER =
Their product mostly consist of consumer goods
36 :- Quantity discount is offered to persuade the buyer to
CORRECT ANSWER =
buy more
37 :- A major advantage of division of labour is that it
CORRECT ANSWER =
increases the standardization of product
38 :- The main focus of commerce is the
CORRECT ANSWER =
distribution of goods and services
39 :- John issures his firm against fire with five insurance companies. In the event of fire outbreak, he will
CORRECT ANSWER =
recieves compensation from only one of the insurance company
40 :- Which of the following depicts the stages in the development of money?
CORRECT ANSWER =
commodities-prrecious metals-coins-goldsmith concept-bank notes