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.

3,046.

Staff position in an organization borders on

A.

authority

B.

advice

C.

responsibility

D.

control

Correct answer is C

No explanation has been provided for this answer.

3,047.

One major disadvantage of a cartel is that it

A.

maximizes productive efficiency

B.

brings the merging firms under control

C.

maximizes profit from operation

D.

eliminate competitions and waste

Correct answer is D

No explanation has been provided for this answer.

3,048.

In every simple contract, the price which is paid to purchase a promise is called

A.

offeree

B.

acceptance

C.

consideration

D.

representation

Correct answer is C

No explanation has been provided for this answer.

3,049.

In a hire purchase agreement between Argungu Ltd and Maikudi, Argungu Ltd inserted provision that it can enter Maikudi’s premises at any time and remove the hired vehicle for any breach. This provision is

A.

lawful to both

B.

unlawful to both

C.

beneficial to both

D.

detrimental to both

Correct answer is A

No explanation has been provided for this answer.

3,050.

Q,act as an agent of P, lawfully and reasonably incur the amount of N350 as expenses.If Q comes to P, for payment , this is an instance of P'S duty to

A.

remunerate Q

B.

reply Q

C.

indemnify Q

D.

settle Q

Correct answer is C

No explanation has been provided for this answer.