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Wednesday, 01 April 2026
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Commerce Past Questions and Answers

Commerce Questions

Question 2761:
Musa entered into a contract to supply two cows to Aro. Before the agreed date of supply and without the knowledge of the two parties, thieves stole the cows. This is an example of termination of contract by
  • A Default
  • B Breach
  • C Frustration
  • D Performance
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Question 2762:
Abuse and monopoly of power by industrialists could lead to
  • A Privatization
  • B Commercialization
  • C Nationalization
  • D Indigenization
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Question 2763:
Which of the following is an objective of indigenization policy? To
  • A Prevent all foreign interference in business
  • B Encourage local participation in business
  • C Prevent smuggling
  • D Encourage more production
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Question 2764:
One of the objectives of ECOWAS is to
  • A Promote indigenization policy
  • B Ensure that quality goods are produced
  • C Promote trade within the region
  • D Discourage foreign investors
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Question 2765:
The amount of insurance premium to be paid depends on the
  • A Supply and demand of a particular company's service
  • B Extent of the possible loss and the frequency of the risk
  • C Number of insurance companies in a place
  • D Amount of profit to be made by the insurer
View Answer & Explanation