COMMERCE PAST QUESTIONS (SSCE)

A private company is one which must publish its audited account must publish its audited account

Which of the following is not a method of discharging a contract?

A retirement insurance policy which enables the assured to receive income for a specific period is

The main advantage of sea transport over air transport is

The refund made on goods re-exported after being imported is known as

The process of dealing with a cheque once it has been paid into the creditor’s bank is

Which of the following provides a proof of posting and that the item has got to the addresses?

An open cheque is one

A partner with an unlimited liability is known as a

Dividend is a always expressed as a percentage of total

C & F as a price quotation in foreign trade means that the buyer

A refund of the duty collected on goods imported and processed for re-export is

The term legal tender refers to

A specially designed container to convey crude oil or liquid from one’ location to another is a

A label as a product such as “Three Crown Milk” is a form of

Which of the following is a method of sales promotion?

A retailer sells his products at “buy-two-take-three”. The sales promotion method referred to is

Which of the following is a means by which a contract of agency could be terminated?

Market skimming is an example of

Which of the following involves the delivery of mails to a traveler without fixed address?

If the amount of dividend paid varies according to the level of profit; what type of share is involved?

The West Africa Clearing House (WACH) was established

If a share is sold at a price below its first value, it is sold

Which of the following has as one of its objectives the removal of obstacles to movement of people and goods across the boundaries of member countries?

A debenture is mortgaged when it is

The production of goods in anticipation of demand is possible because of the existence of

Which of the following terms is used in marine insurance when the cargo suffers partial loss?

The various rights attached to different classes of shares are stated in the

Who among the following does not function in the stock exchange market?

Which of the following can be defined as trade and aid to trade?

The scope of commerce is limited to

Who is responsible for the payment of the bill in documentary credits?

The minimum charge at which the central bank lends to commercial banks is called

Which of the following is used to show that goods imported were produced in an ECOWAS member country?

Which of the following is not a function of the ports Authority?

The process by which the government takes over the ownership ad control of an existing private business is

Total assets minus current liabilities is equal to a company’s

Which of the following gives businessmen the opportunity to buy shares of public limited companies?

An advantage of a public limited company over a private one is the

Which of the following is an intangible asset of a firm?