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.

1,386.

Which of the following is not one of the aims of indigenization? To

A.

reduce the remittance of profits aboard

B.

increase the control of the government over its economy

C.

expose the indigenes to different business enterprises

D.

collection of indemnity by third party only

E.

transfer of a portion of risk from one insurer to another

Correct answer is E

No explanation has been provided for this answer.

1,387.

When a company raises additional capital by selling shares directly to the public through insurance companies or investment houses, this is known as

A.

rights issue

B.

bonus issue

C.

private placing

D.

debenture issue

E.

preference share issue

Correct answer is C

No explanation has been provided for this answer.

1,388.

Ali Plc with issued capital of #500,000 in #1.00 shares has for now requested shareholders to pay only 50k for each #1.00 share. The amount requested from the shareholders by the company is called?

A.

issued capital

B.

Called-up capital

C.

paid-up capital

D.

capital owned

E.

borrowed

Correct answer is B

No explanation has been provided for this answer.

1,389.

The total assets of Ogo Plc is #16,000 and the liabilities included loan #2,000, creditors #1,000 and electricity bill #2,000. Calculate the capital owned by the company?

A.

#21,000.00

B.

#18,000.00

C.

#17,000.00

D.

#16,000.00

E.

#11,000.00

Correct answer is E

No explanation has been provided for this answer.

1,390.

An agent who takes possession of goods and sells in his own name but does not guarantee payment is known as

A.

del credere-agent

B.

general agent

C.

broker

D.

factor

E.

special agent

Correct answer is D

No explanation has been provided for this answer.