Commerce Questions and Answers
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
Test and improve your knowledge of the fundamentals of buying and selling with these Commerce past questions and answers.
One of the facilities enjoyed by a current account holder is?
a dividend
a bonus
an overdraft
interest on deposits
Correct answer is C
Current account holders have the privilege of enjoying the overdraft facilities because overdrafts are only allowed on current accounts.
An overdraft enables the customer to withdraw money more than the funds available in the account.
A collective term for advertising, personal selling and publicity is?
exhibition
promotion
trade fair
merchandizing
Correct answer is A
An exhibition is an organized presentation and display of a selection of items by companies to showcase and demonstrate their new products and services.
Billboards and posters are forms of?
electronic media
print media
outdoor media
window display media
Correct answer is C
Outdoor media consists of any advertising seen outside of the home, such as billboards, posters, vehicle advertising, retail advertising, etc.
A cheque which a bank draws on its own funds is a?
bankdraft
cashier's cheque
bank cheque
crossed cheque
Correct answer is B
A cashier's cheque is a cheque written by a financial institution on its own funds, signed by a cashier, teller, or a representative, and paid to a third party.
If a buyer is given 12.5% discount on N50,000 worth of goods, how much will he pay?
N56 250
N43 750
N43 250
N6250
Correct answer is B
\(\frac{12.5}{100}\) x 50,000 = 6250
50,000 - 6250 = 43,750