Commerce

An association of small scale retailers formed to to encourage bulk buying from manufacturers is known as a?

A. voluntary chain B. producer co-operative society C. multiple store D. department store E. hypermarket Correct Answer: Option B -…

6 years ago

The words “Account payee only” on a cheque means?

A. it is transferable B. pay only to the holders account C. a special crossing D. it is a banker's…

6 years ago

The set of actions of governments, and other organized bodies in response to users’ complaints about goods and services is known as?

A. consumer sovereignty B. consumer protection C. consumer orientation D. consumer loyalty E. consumers' preference Correct Answer: Option B -…

6 years ago

Which of the following brings a public corporation into existence?

A. Certificate of Incorporation B. Certificate of trading C. Acts of Parliament D. Registration E. Prospectus Correct Answer: Option C…

6 years ago

A contract to take possession of goods on installment payment with the option to transfer ownership after full payment is known as?

A. credit sale B. conditional sale C. hire purchase D. trade-in-sale E. leasing Correct Answer: Option C - hire purchase

6 years ago

A transporter who had to sell some perishable goods without the authority of the owner becomes an agent by?

A. estoppel B. necessity C. ratification D. conduct E. appointment Correct Answer: Option B - necessity

6 years ago

A mercantile agent having title to goods in his possession is known as?

A. factor B. broker C. jobber D. auctioneer E. stag Correct Answer: Option A - factor

6 years ago

When an acceptance to an offer is conditional, the offer becomes?

A. accepted B. a counter offer C. valid D. void E. frustrated Correct Answer: Option D - void

6 years ago

Ola presented his motor-cycle for sale to Musa at a cost of #8,000. Musa agreed and bought the vehicle at the same amount. Ola is the?

A. offeror B. offeree C. acceptor D. guarantor E. surety Correct Answer: Option A - offeror Explanation: One who makes…

6 years ago

Ola presented his motor-cycle for sale to Musa at a cost of #8,000. Musa agreed and bought the vehicle at the same amount. The #8,000 for the sale is?

A. an offer B. an acceptance C. a consideration D. a warranty E. a security Correct Answer: Option C -…

6 years ago