Commerce questions and answers

Commerce Questions and Answers

Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.

1,226.

Mr Ajai did not disclose that he stores drums of petrol when he took a fire insurance policy. Under which of the following principles will the insurance company reject his claims

A.

Subrogation

B.

Utmost good faith

C.

Insurable interest

D.

Proximate cost

Correct answer is B

No explanation has been provided for this answer.

1,227.

A contract of sale of goods where ownership passes to the buyer on the payment of first installment is

A.

hire purchase

B.

cash with order

C.

deferred payment

D.

cash on delivery

Correct answer is C

No explanation has been provided for this answer.

1,228.

A picture which indicates that success in life can only be achieved through the use of the product is an example of

A.

market research

B.

persuasive advertising

C.

mass selling

D.

informative advertising

Correct answer is B

No explanation has been provided for this answer.

1,229.

Which of the following have lien on goods in their possession until their commission is paid?

A.

Brokers

B.

Factors

C.

Auctioneers

D.

Wholesale merchants

Correct answer is B

No explanation has been provided for this answer.

1,230.

Which of the following serves as a receipt for goods kept in a bonded warehouse?

A.

Dock Warrant

B.

Bill of Sight

C.

Foul bill

D.

Dock due

Correct answer is A

No explanation has been provided for this answer.