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Monday, 13 April 2026
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Commerce Past Questions and Answers

Commerce Questions

Question 2051:
Which of the following is a declaration by the captain of a ship as to the cargo on board?
  • A Bill of ladlng
  • B Mates receipt
  • C Ships manifest
  • D Bill of sight
  • E Dock warrant
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Question 2052:
When the balance of trade is unfavourable which of the following conditions prevails?
  • A Exports exceed imports
  • B Imports exceed exports
  • C Customs duty is high
  • D Lnvisible exports exceed visible imports
  • E The value money falls
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Question 2053:
When a seller decides to sell his goods at a specific price for a specific period, he is making?
  • A A sales promotion
  • B A bid
  • C An auction sale
  • D A firm offer
  • E An implied guarantee
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Question 2054:
A retailer who receives a trade discount of 33‘/3% and a cash discount of 10% on goods worth N360 would pay?
  • A N240
  • B N226
  • C N216
  • D 204
  • E 120
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Question 2055:
Which of the following documents is used when goods are sent on approval?
  • A Catalogue
  • B Delivery note
  • C Receipt
  • D Advice note
  • E Pro forma invoice
View Answer & Explanation