Commerce Past Questions and Answers

A pattern that shows the kinds of participants involved in the production, distribution and ultimate use of a product is referred to as?

A Selection
B Strategy
C Structure
D Synergy

Question 7:

Goods that are manufactured or acquired by the seller after the contract of sale are?

A Specialty goods
B Future goods
C Specific goods
D General goods

Question 8:

Use the information below to answer question 7 and 8. Ojo purchased the following items from Sani at the specified prices on credit: 200 cartons of milk at N1,000 per carton; 50 bags of rice at N3 000 per bag. Sani allowed 10% trade discount and 5% cash discount, if payment is made within the agreed period. Ojo paid within the agrred period. What was the the amount paid by Ojo?

A N382,500
B N425,000
C N363,375
D N61,625

Question 9:

How much was the trade discount?

A N42.500
B N27,500
C N22,500
D 20,000

Question 10:

The basic functin of the Nigeria Ports Authority is to?

A Ensure that the right calibre of personnel is employed at the ports
B Coordinate and regulate the activities of shipping lines
C Facilitate and control the movement of goods and services into and out of the country
D Coordinate the activities of all the seaports in the country