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.

2,981.

In every simple contract, the price which is paid to purchase a promise is called

A.

offeree

B.

acceptance

C.

consideration

D.

representation

Correct answer is C

No explanation has been provided for this answer.

2,982.

In a hire purchase agreement between Argungu Ltd and Maikudi, Argungu Ltd inserted provision that it can enter Maikudi’s premises at any time and remove the hired vehicle for any breach. This provision is

A.

lawful to both

B.

unlawful to both

C.

beneficial to both

D.

detrimental to both

Correct answer is A

No explanation has been provided for this answer.

2,983.

Q,act as an agent of P, lawfully and reasonably incur the amount of N350 as expenses.If Q comes to P, for payment , this is an instance of P'S duty to

A.

remunerate Q

B.

reply Q

C.

indemnify Q

D.

settle Q

Correct answer is C

No explanation has been provided for this answer.

2,984.

The process of bringing a company under exclusive state ownership and control is know as

A.

nationalization

B.

commercialization

C.

indigenization

D.

privatization

Correct answer is A

No explanation has been provided for this answer.

2,985.

Adigun displays goods of different makes on shelves in his supermarket. This is an example of

A.

invitation to treat

B.

offer to sell

C.

offer to purchase

D.

invitation to sell

Correct answer is A

No explanation has been provided for this answer.