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Thursday, 09 April 2026
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Commerce Past Questions and Answers

Commerce Questions

Question 3236:
A voluntary body formed by people in the same line of business for the purpose of protecting their interest is a
  • A Trade association
  • B Trade union
  • C Chamber of commerce
  • D Trading partnership
View Answer & Explanation
Question 3237:
Those who are engaged in the distribution of goods belong to
  • A Commercial occupation
  • B Extractive industry
  • C Manufacturing industry
  • D Construction industry
View Answer & Explanation
Question 3238:
When an insurance policy is declared void because of a false declaration ; the principle involved is
  • A Indemnity
  • B Subrogation
  • C Proximate cause
  • D Utmost good faith
View Answer & Explanation
Question 3239:
Buildings and machinery used in the running of a business are examples of
  • A Current assets
  • B Intangible assets
  • C Liquid assets
  • D Fixed assets
View Answer & Explanation
Question 3240:
Which of the following is classified as invisible item in balance of payment?
  • A Import of goods
  • B Salaries of expartriates
  • C Export of groundnuts
  • D Sale of equipment
View Answer & Explanation