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.
product, place , process and promotion
price, product, properrty and place
price, product, place and promotion
price, production , place and property
Correct answer is C
The four main Ps of marketing are the product, price, place, and promotion
The resources which are necessary for business development include?
manufacturing , materials mentors and money
merchant, materials, mentors and money
man, money, materials and machines
machines, manufacturing , money and materials
Correct answer is C
No explanation has been provided for this answer.
An association to which all chambers of commerce in Nigeria are affiliated is the?
Nigeria Labour Congress
National Association of Chambers of commerce, industry, Mines and Agriculture
Nigeria Association of Chambers of commerce, industry, Mines and Agriculture
Nigeria Stock Exchange
Correct answer is C
Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture is an organization for all Nigerian state and related Chambers of Commerce of Nigeria. The organization's goal is to further the interests of businesses in the country.
The pooling of business information for the benefit of members is a major function of a?
pressure group
trade association
cultural group
trade union
Correct answer is B
A trade association is a business association founded and funded by businesses that operate in a specific industry for the benefit of its members and to to promote their common interests.
A crossed cheque with the inscription 'not negotiable' must be paid into the?
current account of the drawer
current account of the payee
savings account of the payee
fixed account of the payee
Correct answer is B
To answer this question we need to understand the three parties to a cheque.
The drawer: The drawer is the bank account owner whose signature appears on the cheque.
The drawee: The drawee of a check is the banker/bank.
The payee: The payee is the person who receives money from the bank. He is the party in favor of whom the cheque is issued.
A crossed cheque is a cheque that can only be paid into the bank account of the payee, and cannot be cashed directly at the counter of the bank. The effect of crossing a cheque ‘not negotiable’ is to warn the transferee (the payee in this case) that his or her title is subject to all prior defects in the title. Since cheques are only issued to current account holders it's safe to say that the money will have to be paid to the current account of the payee