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.

476.

A businessman started with N100,000 and spent N80,000 in buying premises and equipment. The balance of N20,000 is his

A.

authorized capital

B.

called-up capital

C.

capital employed

D.

fixed capital

E.

working capital

Correct answer is E

No explanation has been provided for this answer.

477.

What covers the risk which an employer may suffer as a result of the dishonesty of an employee?

A.

accident insurance

B.

export credit insurance

C.

fidelity guarantee insurance

D.

fire insurance

E.

life assurance

Correct answer is C

No explanation has been provided for this answer.

478.

Which business unit has a membership range of 2-50?

A.

Cooperative Society

B.

Partnership

C.

Private Limited Company

D.

Public Enterprise

E.

Public Limited Company

Correct answer is C

No explanation has been provided for this answer.

479.

The different types of occupation in which people are engaged can be grouped as

A.

Direct Services, Commercial and industrial

B.

Manufacturer, Blacksmith and Industrial

C.

Industrial, Manufacturing and Commercial

D.

Teaching, Manufacturing and Commercial

E.

Trading, Teaching and Commercial

Correct answer is A

No explanation has been provided for this answer.

480.

Another name for exchange of goods or other goods is called

A.

barter

B.

buying

C.

credit

D.

selling

E.

specialization

Correct answer is A

No explanation has been provided for this answer.