Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.
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Question 1161: The main frame of selling directly to the consumers by manufacturers is to?
Options:
A) reduce transportation cost
B) make contact with individual consumers
C) discourage the activities of middlemen
D) maximize profit margin
Show Answer
The correct answer is C .
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Question 1162:
Use the information below to answer question 14 and 15.
Miamani Plc, whose nominal capital is made up of 5000 000 ordinary shares of 50k each, decided to offer 80% of it to the public and realized only 50% of the amount due.
What is the company's reserve share capital?
Options:
A) N2500 000
B) N4000 000
C) N5000 000
D) N2000 000
Show Answer
The correct answer is A .
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Question 1163: Ships that sail across the ocean and operate on scheduled time tables are?
Options:
A) ferries
B) ocean liners
C) tramp steamers
D) coastal liners
Show Answer
The correct answer is B .
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Question 1164:
Use the following information to answer this question.
The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018
| Initial Capital | 5000 |
| Net Profit | 1000 |
| Furniture | 2000 |
| Equipment | 2900 |
| Debtors | 100 |
| Stock | 1000 |
| Bank | 500 |
From the above, calculate Current assets
Options:
A) 1600
B) 1060
C) 1500
D) 600
Show Answer
The correct answer is A .
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Question 1165: The main motive of chambers of commerce and trade association is to?
Options:
A) assist governemnt in achieving its objective
B) protect the interest of consumers
C) maximize profit
D) protect and promote the interests of members
Show Answer
The correct answer is D .
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Question 1166: If Mr. Bacus fulfills his promise, he will be entitled to a cash discount of?
Options:
A) N2,760
B) N3,000
C) 6,500
D) 9,500
Show Answer
The correct answer is B .
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Question 1167: Which of the following legislation aims primarily at the protection of consumers?
Options:
A) Law of contract
B) Trade description Act
C) Company's Act
D) Partnership Act
Show Answer
The correct answer is B .
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Question 1168: The part of the computer that has the capacity to interpret instruction is _______
Options:
A) universal power storage
B) central processing unit
C) keyboard
D) monitor
Show Answer
The correct answer is B .
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Question 1169: Endowment policy in insurance business is an aspect of
Options:
A) accident insurance policy
B) fidelity guarantee insurance policy
C) motor vehicle insurance policy
D) life assurance policy
Show Answer
The correct answer is D .
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Question 1170:
Use the information below to answer questions 13 and 14
| # |
| Sales | 50,000.00 |
| Debtors | 10,000.00 |
| Cash in hand | 5,000.00 |
| Opening stock | 30,000.00 |
| Creditors | 8,000.00 |
| Purchases | 16,000.00 |
| Overdraft | 12,000.00 |
| Closing stock | 10,000.00 |
Options:
A) #35,000.00
B) #20,000.00
C) #15,000.00
D) #14,000.00
Show Answer
The correct answer is D .