Commerce

Which of the following has no legal capacity to a contract?

A. Public Limited Company B. Public Corporation C. Co-operative Society D. A Minor E. A Limited Partnership Correct Answer: Option…

6 years ago

The production process is completed when what is produced?

A. is in the manufacturer's warehouse B. has reached the manufacturer's agent C. is in the wholesaler's warehouse D. has…

6 years ago

The total asset of business minus its total liability is the?

A. net profit B. capital owned C. working capital D. capital employed E. gross profit Correct Answer: Option B -…

6 years ago

The returns from capital investment are known as?

A. turnover B. commission C. annuity D. profit E. bonus Correct Answer: Option D - profit

6 years ago

Gross profit is correctly ascertained by?

A. adding opening stock to purchases B. adding closing stock to sales C. subtracting returns outwards from purchases D. subtracting…

6 years ago

A supplier who needs to make additional charges for goods delivered will send?

A. a debit note B. a credit note C. a consignment note D. a advice note E. a delivery note…

6 years ago

The basic principles upon which International Trade is carried on among countries is?

A. specialization B. absolute cost advantage C. comparative cost advantage D. division of labour E. scarcity Correct Answer: Option C…

6 years ago

Balance of trade is said to be favourable when?

A. visible imports exceed visible imports B. invisible exports exceed visible imports C. invisible imports exceed visible exports D. visible…

6 years ago

One way of importing goods without the use of foreign exchange is through?

A. exchange controls B. entrepot trade C. quota D. tariffs E. counter trade Correct Answer: Option E - counter trade

6 years ago

Which of the following assists a Nigerian producer to participate in trade fairs and exhibitions abroad?

A. Nigerian Ports Plc B. Shipping and Clearing Agents C. Federal Airports Authority of Nigeria D. Customs and Excise Authority…

6 years ago