Commerce questions and answers

Commerce Questions and Answers

Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.

81.

Which is the fastest means of transportation?

A.

Water

B.

air

C.

rail

D.

Road

Correct answer is B

Air transport is an aircraft design for transporting passengers and freight from one location to another in the air using airplanes, jets, rockets helicopters, and drones.

High Speed: It is the fastest means of transport

82.

Why is clear bill of lading called so?

A.

It shows records of damaged goods

B.

It shows no records of damaged goods

C.

It is a clear bill

D.

It signifies no debt is owed

Correct answer is B

So, a bill of lading is a contract of carriage between a shipper and a carrier, outlining the details of a particular shipment. And a clean bill of lading indicates that the carrier received the goods in good condition, before they actually ship them

a clean bill of lading indicates that the carrier received the goods in good condition, before they actually ship them

83.

In Nigeria, the ministry in charge of registering trade association is that of

A.

Culture and tourism

B.

Finance

C.

Industries

D.

Commerce

Correct answer is D

The Ministry of commerce also provides Geological Services for Industrial and Commercial, Registration of Trade Groups and artisans and Export promotion.

The ministry of Commerce is in charge of registering trade associations

84.

The factors which critically determines the choice of occupation is

A.

Skill

B.

Training

C.

Aptitude

D.

Interest

Correct answer is A

Occupation is a person's usual or principal work or business, especially as a means of earning a living; any activity in which a person is engaged

Factors That Determine Types of Occupation are Climate and weather differences. Education, Skill and Training. Natural Resources. Salary and Wages.

85.

The board of directors of public enterprise is appointed by who?

A.

Employees

B.

management

C.

government

D.

shareholders

Correct answer is D

In a stock corporation, non-executive directors are voted for by the shareholders and the board is the highest authority in the management of the corporation. The board of directors appoints the chief executive officer of the corporation and sets out the overall strategic direction.