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.

2,241.

Workers involved in mining, quarrying or fishing are engaged in?

A.

Secondary production

B.

Primary production

C.

Tertiary production

D.

The manufacturing industry

E.

The construction industry

Correct answer is B

No explanation has been provided for this answer.

2,242.

Which of the following is a feature of Co-operative Societies?

A.

Each member has several votes during meetings

B.

Profits are shared on the basis of shares held

C.

All members have equal votes during meetings

D.

Members are not involved in running the business

E.

The welfare of members is not taken into consideration

Correct answer is C

No explanation has been provided for this answer.

2,243.

Which of the following must be submitted to the Registrar of Companies before the company is incorporated?

A.

Articles of Association and Certificate of Incorporation

B.

Memorandum of Association and Certificate of Incorporation

C.

Articles of Association and Memorandum of Association

D.

Memorandum of association and Prospectus

E.

Certificate of Incorporation and Prospectus

Correct answer is C

No explanation has been provided for this answer.

2,244.

Which of the following involves gathering and analysing information about demand, consumers wants and new products?

A.

Sales promotion

B.

Market research

C.

Personal selling

D.

After-sales service

E.

Physical distribution

Correct answer is B

No explanation has been provided for this answer.

2,245.

The Act designed to reserve certain businesses exclusively for Nigerians is known as the?

A.

Sale of Goods Act

B.

Weights and Measures Act

C.

Nigerian Enterprises Promotion Act

D.

Standards Organization of Nigeria Act

E.

Trade Marks Act

Correct answer is C

No explanation has been provided for this answer.