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.

311.

An example of service rendering trade association is

A.

Association of Nigerian Miners

B.

Cocoa Farmers’ Association

C.

Manufacturers Association of Nigeria

D.

Nigerian Bar Association

E.

Saw millers Association of Nigeria

Correct answer is D

No explanation has been provided for this answer.

312.

The losses incurred in the running of Public Corporations are borne by the

A.

board of directors

B.

debenture holders

C.

managing director

D.

shareholders

E.

tax payers

Correct answer is E

No explanation has been provided for this answer.

313.

A disadvantage of commercialization of public enterprises in Nigeria is that it

A.

creates room for competition with private owned enterprises

B.

enables consumers have value for their money

C.

generates funds for government

D.

leads to reduction in work force

E.

promotes efficiency

Correct answer is D

No explanation has been provided for this answer.

314.

Which of the following relies on subvention as the main source of capital?

A.

Cooperative society

B.

Partnership

C.

Public corporation

D.

Public limited company

E.

Sole trader

Correct answer is C

No explanation has been provided for this answer.

315.

The principle of insurance that prevents the insured from benefiting in an event where he suffers no material or financial loss is

A.

Indemnity

B.

insurable

C.

proximate cause

D.

subrogation

E.

utmost good faith

Correct answer is C

No explanation has been provided for this answer.