Commerce Past Questions and Answers

A company had an authorized share capital of 30,000. It offered applicants N20,000 share capital out of which the company collected N15,000.
What was the unissued capital?

A N35,000
B N30,000
C N15,000
D N10,000
E N5,000

Question 1527:

Which of the following is not necessary when ordering goods?

A Trade journal
B Letter of enquiry
C Invoice
D Order form
E Catalogue

Question 1528:

With regard to payment, the amount payable when no deductions are made is called?

A Net price
B Spot cash
C Not profit
D Prompt cash
E Draft

Question 1529:

Exchange in the international market which does not involve the use of money as a medium is known as?

A Foreign aid
B Counter trade
C Monetization
D Foreign trade
E Enterpot trade

Question 1530:

A shipping company's document detailing the charges for carrying a particular cargo for a specified journey is known as?

A Dock warrant
B Freight note
C Carriage forward
D Weight note
E Credit note