Commerce 2015 | Study Mode

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Question 21
A
Contractual agreement for the sale of goods
B
Document specifying quantity, description, prices and total value of purchase .
C
Receipt containing necessary information about the goods.
D
Letter specifying the contractual sales of goods between two parties
Explanation
an invoice is a document sent by the seller to the buyer showing the full details of gods sold such as quantity, description, price, discount and the total amount t o be paid.

Correct option: B
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Question 22
A
State counsels
B
Civil servants
C
Police
D
Family doctor
Explanation
Option D is the correct answer because a family doctor is rendering a private service to the family and paid for by the family. Options A, B and C are not correct because the service they rendered is paid for by the government from taxes paid by member of the public

Correct option: D
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Question 23
A
Partnership
B
Company
C
Joint venture
D
Co-operative society
Explanation
Option C is the correct because joint ventures are established in order to accomplishment a specific purpose after the ventures cease to operate ones the purpose is accomplished.

Correct option: C
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Question 24
A
highly restricted
B
Regulated by SEC
C
Regulated by NIPC
D
less restricted.
Explanation
of the strongest condition attached to the quoting of shares of compares under the first-tier securities market is very strict.

Correct option: A
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Question 25
A
non-resident s of a country travel within it.
B
non- resident of a country travel to other countries
C
resident of a country travel within it
D
Residents of a country travel to other countries.
Explanation
it involves the movement of tourist within their country of residence tourist resident in Nigeria for instance travelling within.

Correct option: C
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Question 26
A
Telex Machine
B
Fax Machine
C
Vending Machine
D
Computer machine
Explanation
the vending machine is a retails machine that release the product to the tune of the amount of money slotted into the machine and the product indicated by the consumer.

Correct option: C
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Question 27
A
Public relations department
B
Marketing Department
C
Estate or Properties Department
D
legal Department.
Explanation
the marketing department does public relations i.e the public relations department is part of the marketing department

Correct option: B
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Question 28
A
Corporate affair commission
B
Securities and exchange commission
C
Securities and exchange tribunal
D
Nigerian stock exchange
Explanation
the securities and exchange commission is the regulatory apex organization of the Nigerian capital market.

Correct option: B
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Question 29
A
partnership
B
sole trader
C
joint stock company
D
public corporation
Explanation
it is joint stock Company that prepare memorandum of association during the course of registering the company it is also known as Limited Liability Company.

Correct option: C
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Question 30
A
A jobber
B
A broker
C
A factor
D
An auctioneer
Explanation
As a jobber takes title to the goods and has authority to buy and sell or behalf of another

Correct option: A

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