Commerce Past Questions and Answers

The relationship between a country’s visible imports and exports in a trading year is known as ____________

A Balance of payment
B Balance of trade
C Counter trade
D International trade
E Terms of trade

Question 37:

When the price quoted includes all the cost to the actual destination, that is, from the seller’s warehouse to the buyer’s warehouse. it is called ____________

A Carriage
B Carriage paid
C Cash on delivery
D Franco
E Loco price

Question 38:

The service rendered by NIPOST in which letters are addressed to any post office to await collection by the addressee is known as ____________

A Business reply service
B Cash on delivery service
C Express mail service
D Free post service
E Posted restate service

Question 39:

Fishing is an example of ____________

A Construction industry
B Direct services
C Extractive industry
D Manufacturing industry
E Tertiary industry

Question 40:

Obi received a cheque for N1000 from Mr. Ade and this cheque was stolen. He must

A Inform his bank to stop payment
B Inform Mr. Ade to tell his bank to stop payment
C Simply ask Mr. Ade for another cheque
D Tell his bank to add the amount to his bank balance
E Wait until the cheque is found