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 term 4 net 7 on an invoice means that
4% surcharge will be made unless payment is made within seven days
4% discount will be allowed on the price charged only if the good are bought within seven days
4% discount will be allowed on the price charge if payment is made after seven days
4% discount will be allowed on the price charged if payment is made price charged if payment is made price charged if payment is made within seven days.
Correct answer is D
The discount is allowed to encourage seller prompt payment for the goods bought by the buyer.
Natural Environment
Cultural environment
Economic environment
Demographic Environment
Correct answer is D
Demographic environment that put into consideration the composition of the population of the consumers, it determines the quantity of goods to be produced.
The document issued to a port authority when a good are deposited is a
dock warrant
Dock landing account
Ball of sight
Bill of landing note
Correct answer is A
It is a document that shows that the goods are stored in the warehouse and it entitles the holder to take possession of the goods.
A bond which attracts interest but leaves the capital repaid is referred to as
A redeemable bond
An irredeemable bond
A development bond
A long-term loan
Correct answer is B
The bond is per petrol, which is until death. The issuing authority or entity pays a specific interest rate periodically but provides no data on when the principal will be returned.
N4,000,000
N5,000,000
N7,500,000
N2,500,000
Correct answer is D
From the calculation made we arrived at the answer and using the formula.
Nominal capital is the same as authorized x capital
The price per share is 50K
∴ Authorized share capital
=N5000000 x 0.50K
= N2,500,000