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Saturday, 04 April 2026
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Commerce Past Questions and Answers

Commerce Questions

Question 146:
The difference between the total payments for imports and the receipts from exports within a given period is referred to as
  • A Balance of payments
  • B Balance of trade
  • C Comparative cost advantage
  • D Comparative advantage
View Answer & Explanation
Question 147:
A pro forma invoice is NOT required when
  • A Quoting for the supply of goods
  • B Goods are sent on approval
  • C Dealing regularly with a customer
  • D Final prices are uncertain
View Answer & Explanation
Question 148:
Which of the following statements is TRUE about sea transport?
  • A All ships have specific routes to ply
  • B All ships must be insured at every journey
  • C All ships are insured separately from the crew
  • D All ships normally arrive at their destination with goods
View Answer & Explanation
Question 149:
The postal organization which preceded the Nigerian Postal Service is
  • A Post and Telecommunication
  • B Post and Telephone
  • C Post and Teleprinter
  • D Post and Telegraph
View Answer & Explanation
Question 150:
Goods discharged from ships on which import duties have not been paid are kept in the
  • A Ordinary warehouse
  • B Public warehouse
  • C Private warehouse
  • D Bonded warehouse
View Answer & Explanation