Commerce Past Questions and Answers

Services rendered to the public is provided by ____________

A person who in consideration for an extra commission takes responsibility for goods sold on credit and in case of default is a ____________

<table class='tbn'><tbody><tr><td> <b>NAME</b> </td><td> <b>INSUREDAMOUNT(₦)</b> </td><td> <b>ACTUALVALUE(₦)</b> </td><td> <b>ACTUALLOSS(₦)</b> </td></tr><tr><td> Mr. PMr. KMr. R </td><td> 25,00030,00040,000 </td><td> 100,000120,000150,000 </td><td> 30,00040,00050,000 </td></tr></tbody></table><br/><br/><br/>Use the table above to answer questions 27 and 28<br/>If Mr. P takes a fire insurance policy with average clause, his compensation will be ____________

<table class='tbn'><tbody><tr><td> <b>NAME</b> </td><td> <b>INSUREDAMOUNT(₦)</b> </td><td> <b>ACTUALVALUE(₦)</b> </td><td> <b>ACTUALLOSS(₦)</b> </td></tr><tr><td> Mr. PMr. KMr. R </td><td> 25,00030,00040,000 </td><td> 100,000120,000150,000 </td><td> 30,00040,00050,000 </td></tr></tbody></table><br/><br/><br/>What insurance principle has Mr. R violated if he decides to overstate the actual value of his property?

Hire purchase is advantageous to the seller in that ____________