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.
A factor in a business environment which increases the rate of product obsolescence is?
technology
political
legal
economic
Correct answer is A
In business, technology provides a faster, more convenient, and more efficient way of performing business transactions. With this, old products and services become outdated and obsolete to meet demand when the firms do not upgrade to emerging technologies.
The practice whereby government relinquishes its ownership interest in a public enterprises is?
commercialization
indegenization
privatization
nationalization
Correct answer is C
Privatization occurs when a government-owned business, operation, or property becomes owned by a private, non-government party.
The body charged with divesting government interests in public enterprises is?
SON
NPC
BPE
NDE
Correct answer is C
Bureau of Public Enterprises - BPE is charged with the overall responsibility of implementing the Nigerian policy on privatization and commercialization.
safety
family's security
family's welfare
indemnification
Correct answer is D
Indemnification simply means the protection against a loss or other financial burden. Just like the question has explained, when an employee incurs financial expenses while adjudicating his/her duties, the employer is expected to indemnify or compensate the employee for the loss or amount spent.
consideration
sureties
warranties
guaranties
Correct answer is C
No explanation has been provided for this answer.