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.

2,061.

A deduction made by a wholesaler from the catalogue price and which represents a retailer's profit margin is called?

A.

Cash discount

B.

Deferred discount

C.

Trade discount

D.

Quantity discount

E.

Cash on delivery

Correct answer is C

No explanation has been provided for this answer.

2,062.

A cheque that is drawn in the name of a bank instead of the account holder's name is called?

A.

Bank statement

B.

Bill of exchange

C.

Specially crossed cheque

D.

Certified cheque

E.

Bank draft

Correct answer is E

No explanation has been provided for this answer.

2,063.

A modern method of retailing whereby customers can make their purchases without the help of an assistance or cashier is called?

A.

Impulse buying

B.

One-step-shopping

C.

Self service

D.

Automatic vending

E.

Auction sales

Correct answer is D

No explanation has been provided for this answer.

2,064.

Which of the following organizations aim primarily at protecting the consumer?

A.

Standards Organization of Nigeria

B.

Chambers of Commerce

C.

State Security Service

D.

Nigeria Red Cross Society

E.

Manufacturers Association of Nigeria

Correct answer is A

No explanation has been provided for this answer.

2,065.

The system of collecting information with a view to determining the extent of demand for a product is known as?

A.

advertising

B.

marketing research

C.

marketing

D.

marketing segementation

E.

communication

Correct answer is B

No explanation has been provided for this answer.