Commerce 2011 | Study Mode

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Question 11
A
exports is more than imports 
B
imports is more than exports 
C
currency devaluation 
D
invisible exports is more than visible exports 
Explanation.
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Correct Option:
B
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Question 12
A
current account, capital account and monetary movement account 
B
capital account, trade account and business record 
C
sales account, profit and loss account and capital account 
D
monetary movement account, trade account and sales ledger 
Explanation.
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Correct Option:
A
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Question 13
A
bill of lading 
B
bill of exchange 
C
documentary evidence 
D
negotiable instrument 
Explanation.
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Correct Option:
A
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Question 15
A
Free Alongside Ship 
B
Franco 
C
Free On Board 
D
Free On Rail 
Explanation.
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Correct Option:
C
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Question 16
A
money must be enclosed when ordering 
B
payment must be made on delivery 
C
payment must be made within few days 
D
cash must be paid on the spot 
Explanation.
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Correct Option:
B
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Question 19
A
tourism 
B
banking 
C
communication 
D
transportation 
Explanation.
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banking has to do with engaging in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit etc. it consist oftransacting business with a bank; depositing or withdrawing funds or requesting a loan etc. in another aspect, it is the legal right of a bank to seize deposited funds to cover a loan that is in default

Commercial banks are those that provide the general public with deposit and withdrawal accounts services, and with loans. The odds are you deal with a commercial bank on a regular basis. There are a variety of methods by which commercial banks make a profit, including fees, credit card interest, loans and optional add-ons.


Correct Option:
B
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Question 20
A
the loss should be borne by the insurer 
B
Mr. Lawal is liable only for half of the estimated loss 
C
the insurer should make a consolation payment for the loss 
D
the loss should be borne by Mr. Lawal 
Explanation.
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Correct Option:
D
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