Commerce Questions and Answers
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
The development of commercial activities in Nigeria was facilitated largely by
a good transport system
the indigenization decree
a convenient medium of exchange
a high level of production
Correct answer is C
No explanation has been provided for this answer.
What are fixtures and fittings in a balance sheet?
liquid capital
current assets
fixed assets
working capital
Correct answer is C
No explanation has been provided for this answer.
N24.65 million
N17.00million
N9.35 million
N7.65million
Correct answer is C
No explanation has been provided for this answer.
What is the working capital as at December 31,1992?
N65 250
N60 000
N48 650
N41 950
Correct answer is D
No explanation has been provided for this answer.
N15,000
N20,000
N12,000
N25,000
Correct answer is C
Since the policy is with average clause the formula used in calculating his compensation is
\(\frac{\text{Amount insured x total actual loss}} {\text{Total actual value of property}}\)
By this formula the compensation will be
Amount insured = N30,000
Amount loss = N40,000
Actual Value = N100,000
=\(\frac{30,000 \times 40, 000}{100,000}\)
= \(\frac{1200000000}{100,000}\) = 12,000