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.

1,661.

Which of the following is a type of system software

A.

utility programmes

B.

registers

C.

hard drives

D.

packages

Correct answer is A

No explanation has been provided for this answer.

1,662.

The process of decoding data in a computer is known as

A.

dilution

B.

default drive

C.

decryption

D.

data security

Correct answer is C

Decryption is the process of taking encoded or encrypted text or other data and converting it back into text that you or the computer can read and understand. 

1,663.

The body which ensures that consumers are protected against harmful products in Nigeria is

A.

NAFDAC

B.

NDLEA

C.

SON

D.

CPC

Correct answer is C

The Standard Organisation of Nigeria (SON) is the sole statutory body that is vested with the responsibility of standardising and regulating the quality of all products in Nigeria.

1,664.

Yahaya bought a piece of furniture on a credit sale agreement from Ahmed and resold it to Ali before all installments were made .The court upheld that Ahmed could not recover possession of the items from Ali. The reason for the judgement was because

A.

ownership was transfered on completeion of installment

B.

ownership was transfered on delivery

C.

Yahaya could not pass title to a third party

D.

Ali was still indebted to Yahaya

Correct answer is B

Ahmed  lost ownership of the property the moment he transferred ownership to yahaya whether he was fully compensated or not.

1,665.

A person who in consideration for an extra commission takes responsibility for goods sold on credit and in case of default is a

A.

commission agent

B.

del credere agent

C.

broker

D.

factor

Correct answer is B

Del Credere Agent Law and Legal Definition. A del credere is an agent who guarantees the solvency of third parties with whom the agent contracts on behalf of the principal.