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.
When an order cheque is endorsed it becomes?
a bearer cheque
a certified cheque
an open cheque
a confirmed cheque
a dishonoured cheque
Correct answer is A
No explanation has been provided for this answer.
Which of the following is mostly used in Nigeria for setting business transactions?
Credit transfer
Standing order
Cheques
Bank notes and coins
Bank drafts
Correct answer is D
No explanation has been provided for this answer.
Which of the following is not a function of money?
Unit of account
Store of value
Determinant of exchange of medium
Medium of exchange
Standard for deferred payment
Correct answer is C
No explanation has been provided for this answer.
uberrimae fidei
Caveat subscriptor
Consumer sovereignty
Caveat venditor
Standard for deferred payment
Correct answer is D
No explanation has been provided for this answer.
Which of the following ensures that manufactured goods conform to the required standard?
Nigerian Industrial Research Centre
Standard Organization of Nigeria
Consumer Consultative Committee
Price Control Board
Indigenization Decree
Correct answer is B
No explanation has been provided for this answer.