Commerce Past Questions and Answers

Which area of law is NOT related to business?

A Agency
B Contract
C Hire purchase
D Possession
E Sale of goods

Question 12:

The policy designed to accelerate the greater participation of Nigerians in the ownership and management of business enterprises in Nigeria is called ____________

A Commercialization
B Indigenity
C Industrialization
D Nationalis-ation
E Privatization

Question 13:

An instruction to an agent abroad restricting him to buy from a named manufacturer is known as ____________

A A closed indent
B An open indent
C An order
D Pro forma invoice
E A standing order

Question 14:

An allowance made to a customer for prompt payment is known as ____________

A . allowance
B Bulk discount
C Cash discount
D Commission
E Trade discount

Question 15:

Which of the following can be used to establish an importer's title to goods?

A Bill of exchange
B Bill of lading
C Cargo receipt
D Import licence
E Way bill