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.
Gilt-edged securities are issued mainly by
individuals
non-governmental organisations
Government
multi-national companies
Correct answer is C
Gilt-edged securities refer to high-grade bonds that some national governments and private organizations issue in an effort to generate revenue.
Money can be simply be referred to as a
measure of value
standard of value
means of settlement
durable asset for doing business
Correct answer is A
Money, a commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed
Which of the following is a quality of money
Availability
Scarcity
Indivisibility
Convertibility
Correct answer is B
The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability.
Money is generally accepted for transactions due to
the legal backing
the rule of law
its acceptability in the global market
the Central Bank Governor's signature
Correct answer is A
Legal backing of money is the legally recognized money within a given a geographical area
Trade fairs in Nigeria are organised by
the Federal Government
Manufacturers'' Association of Nigeria
Ministry of Commerce and Industry
Chambers of Commerce
Correct answer is D
A chamber of commerce is a form of business network, for example, a local organization of businesses whose goal is to further the interests of businesses.