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.

2,361.

The oldest and commonest form of business in Nigeria is?

A.

partnership

B.

the co-operative society

C.

sole proprietorship

D.

joint stock veture

E.

public corporation

Correct answer is C

No explanation has been provided for this answer.

2,362.

Opening stock.................N1000
Closing stock.................N9000
Purchases.....................N14,000
The cost of goods sold is?

A.

N6000

B.

N10000

C.

N42000

D.

N16000

E.

20000

Correct answer is A

No explanation has been provided for this answer.

2,363.

Opening stock.................N1000
Closing stock.................N9000
Purchases.....................N14,000
The average stock is?

A.

N2000

B.

N2000

C.

N5000

D.

N6000

E.

N7000

Correct answer is C

No explanation has been provided for this answer.

2,364.

Which of the following is one of the functions of commerce?

A.

Manufacturing

B.

Growing of tomatoes

C.

Storage of goods

D.

Construction of roads

E.

Car assemblying

Correct answer is C

No explanation has been provided for this answer.

2,365.

Which of the following does not belong to the industry?

A.

Farming

B.

Insuring

C.

Mining

D.

Drilling

E.

Fishing

Correct answer is B

No explanation has been provided for this answer.