Commerce

A merchant wholesaler is one who?

A. takes title to the goods he sells B. does not own the goods he sells C. earns a commission…

5 years ago

When a seller sends a Pro-forma invoice to a potential customer, it is?

A. an indication that the seller is out of business B. an indication that the goods are out of stock…

5 years ago

A document which a retailer sends to a wholesaler requesting him to supply items is called?

A. a letter of inquiry B. a catalogue C. an invoice D. an order E. a tender invoice Correct Answer:…

5 years ago

The use of catalogues is associated with?

A. hawkers B. roadside traders C. mobile shops D. chain stores E. mail-order business Correct Answer: Option E - mail-order…

5 years ago

Which of the following is a retail outlet to eliminate the profit of middlemen?

A. Producer co-operative B. Consumer co-operative C. Thrift and Credit Society D. Department store E. Multiple shops Correct Answer: Option…

5 years ago

Which of the following is statutorily responsible for providing information and incentives required to increase the volume of Made-in-Nigeria goods in foreign markets?

A. Association of Nigeria Exports B. Nigeria Export Promotion Council (NEPC) C. General Agreement on Tariffs and Trade (GATT) D.…

5 years ago

The manufacturer would by-pass the wholesaler and the retailer in the distribution of his products if the?

A. Demand is widespread B. Wholesaler and retailer lack office accommodation C. Volume of production is high D. The product…

5 years ago

Restoring the insured to his former position by the insurer in the event of his suffering the specified loss is called?

A. Subrogation B. Compensation C. Indemnity D. Contribution E. Surrender value Correct Answer: Option C - Indemnity

5 years ago

The two main categories of marine losses are?

A. Total loss and partial loss B. Total loss and particular average loss C. Total loss and constructive total loss…

5 years ago

A service provided by NITEL through which one can dial any number one wants whether it is a local, trunk or overseas is called the?

A. Internal Communication System B. Standard Dialling System C. Subscribers Dialling System D. International Telecommunications E. Coded Dialling Order Correct…

5 years ago