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.

1,986.

Zaico Ltd invoiced goods valued at N80,000 to Victory Ltd for N8,000. Which of the following will Zaico Ltd send to Victory Ltd to correct the error?

A.

Consignment note

B.

Credit note

C.

Advice note

D.

Debit note

E.

Statement

Correct answer is D

No explanation has been provided for this answer.

1,987.

Which of the following is not the objective of Consumer Association? To

A.

ensure that fair prices are charged

B.

educate consumers on their rights

C.

prevent fake goods from entering the market

D.

prevail on the govemment to enact consumer protection laws

E.

ensure correct specihcations as to quality of goods

Correct answer is C

No explanation has been provided for this answer.

1,988.

The process of taking over private business by government is known as?

A.

naturalisation

B.

nationalisation

C.

privatisation

D.

commercialisation

E.

indigenisation

Correct answer is B

No explanation has been provided for this answer.

1,989.

A postal order, either crossed or open is only valid for a period of?

A.

12 months

B.

10 months

C.

8 months

D.

6 months

E.

5 months

Correct answer is D

No explanation has been provided for this answer.

1,990.

30 Rate of turnover is the?

A.

number of times opening stock is sold during a period

B.

rate paid by retailers for their stocks

C.

rate paid to agents forturning over their stock ata given period

D.

number of times the stock is turned over

E.

number of times average stock is sold during a period

Correct answer is D

No explanation has been provided for this answer.