Commerce

An association of businessmen engaged in both commerce and industry is called?

A. trade association B. Trade union C. chamber of commerce D. trust E. cartel Correct Answer: Option C - chamber…

6 years ago

Tax levied on goods at each stage of their movement from production to the final consumer is known as?

A. customs drawback B. ad valorem duty C. specific tax D. value-added tax E. tariff Correct Answer: Option D -…

6 years ago

In marine insurance, the deliberate throwing of some goods into the sea to prevent the ship from sinking is an example of?

A. a constructive loss B. a partial loss C. a general average loss D. a total loss E. an actual…

6 years ago

Small scale retail attracts a lot of new entrepreneurs in West Africa because?

A. many people have had good training in retail trade B. it is easy to succeed with the business C.…

6 years ago

The document issued to a newly formed public company to commence business is called the?

A. certificate of incorporation B. articles of association C. memorandum of association D. trading certificate E. insurance certificate Correct Answer:…

6 years ago

Which of the following is a non-indemnity insurance?

A. Personal Accident Insurance B. Burglary Insurance C. Fire Insurance D. Consequential loss Insurance E. Third-Party Insurance Correct Answer: Option…

6 years ago

The law governing the operations of companies and partnership in Nigeria is the?

A. Nigerian Companies Decree B. Nigerian Partnership Act C. Nigerian Enterprises Promotion Decree D. Companies And Allied Matters Decree E.…

6 years ago

Which of the following is drawn up as a guide to the running of a Partnership?

A. Deed of Agreement B. Partnership Act C. Memorandum of Association D. Prospectus E. Articles of Association Correct Answer: Option…

6 years ago

Which of the following regulates and controls the activities of the Nigerian Stock Exchange?

A. The Nigerian Capital Market Association B. The Securities and Exchange Commission C. The Nigerian Deposit Insurance Commission D. The…

6 years ago

Goods in bonded warehouses are under the strict supervision of the?

A. Customs Authority B. Ports Authority C. Importer D. Clearing agent E. Exporter Correct Answer: Option A - Customs Authority

6 years ago