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.

171.

Discharging certian duties by an organization to the public to gain high patronage is a concern of ?

A.

financial responsibility

B.

economic responsibility

C.

legal responsibility

D.

social responsibility

Correct answer is D

Social responsibility is an ethical framework and suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large.

172.

Labour as an input in production can be motivated by

A.

training

B.

profit

C.

remuneration

D.

promotion

Correct answer is C

Employee motivation is the level of energy, commitment, and creativity that a company's workers bring to their jobs. If the remuneration is directly related with work performance, employee will work hard. It is the reason that most of managers use remuneration to motivate employees

173.

An association that acts as a watchdog between enterpreneurs and government to protect trade from any unfavourable laws is said to be a

A.

cartel

B.

syndicate

C.

Chamber of Commerce

D.

Nigeria Bar Association

Correct answer is C

Chamber of Commerce (also referred to in some circles as a board of trade) is a form of business network, e.g., a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to advocate on behalf of the business community.

174.

An ancillary to trade which promotes socio - cultural development all over the world is

A.

transportation

B.

communication

C.

tourism

D.

insurance

Correct answer is C

Tourism means people traveling for fun. It includes activities such as sightseeing and camping. People who travel for fun are called "tourists". Places where manytourists stay are called "resorts". Places that people go to for tourism are called tourist destinations. Tourism promotes socio-cultural development

175.

One of the functions of the Nigerian Ports Authority is that it

A.

gives preferential treatment to Nigerian investors

B.

provides credit facilities to importers

C.

encourages the growth of infant industries

D.

provides warehosing facilities at the docks

Correct answer is D

providing and operating necessary facilities in ports and maintaining, improving and regulating the use of the ports