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Thursday, 09 April 2026
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Commerce Past Questions and Answers

Commerce Questions

Question 3591:
If the opening stock of Ali ltd is N40,000, cost of goods sold is N48,000 and closing stock is N24,000, its rate of turn over will be?
  • A 1.2 times
  • B 1.5 times
  • C 2.0 times
  • D 7.5 times
View Answer & Explanation
Question 3592:
A business which requires a certificate of trading in order to commence operation is a?
  • A Co-operative society
  • B Private company
  • C Sole propietorship
  • D Public company
View Answer & Explanation
Question 3593:
Exchange of goods in international market which does not involve the use of money is a
  • A Barter trade
  • B Entreport trade
  • C Counter trade
  • D Bilateral trade
View Answer & Explanation
Question 3594:
which of the following features is not associated with a chamber of commerce? it is
  • A Democratically administered
  • B An independent association
  • C Open only to entrepreneurs
  • D A voluntary association
View Answer & Explanation
Question 3595:
The reason for sending a proforma invoice to a potential customer is that it is?
  • A An indication of the seller's willingness to grant credit
  • B A polite way of telling the customer to return the goods
  • C An invitation to the buyer to buy on hire purchase
  • D A polite way of refusing to sell on credit
View Answer & Explanation