Search SchoolNGR

Sunday, 12 April 2026
Register . Login

Commerce Past Questions and Answers

Commerce Questions

Question 2046:
Which of the following is quoted when the buyer is responsible for the cost of loading the goods from the seller’s warehouse up to his own warehouse?
  • A LOCO
  • B F.O. R
  • C F.A.S
  • D C.I.F
  • E C.F
View Answer & Explanation
Question 2047:
A trade in which many countries exchange goods and services is called?
  • A Bilateral trade
  • B Entrepot trade
  • C Economic union
  • D Multilateral trade
  • E Counter trade
View Answer & Explanation
Question 2048:
Which of the following is used to ascertain the correct value of imports for purposes of assessing customs duty’
  • A Certificate of origin
  • B Open-indent
  • C Bill of Lading
  • D Ships manifest
  • E Bill of entry
View Answer & Explanation
Question 2049:
The best method of making payment to an overseas supplier is by/
  • A Bankdraft
  • B Bill of exchange
  • C Travellers cheque
  • D Letter of credit
  • E Certified cheque
View Answer & Explanation
Question 2050:
Are fund usually granted for goods imported and later re-exported is called?
  • A Commission
  • B Discount
  • C Customs drawback
  • D Dock due
  • E Demurrage
View Answer & Explanation