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1 of 15

The turnover of firm maybe affected by

A. the demand for its product

B. the cost of its goods sold

C. its closing stock

D. its net assets

2 of 15

A term which indicates that share is temporarily suspended is

A. ex-dividend

B. cum-dividend

C. bond

D. stock

3 of 15

A public limited company can raise long-term loans through

A. the capital market

B. the money market

C. bank overdrafts

D. discount houses

4 of 15

Nationalization of an industry means that its ownership becomes that of

A. government

B. shareholders

C. taxpayers

D. indigenes

5 of 15

Which of the following documents is typically required for the export of goods in international trade to ensure compliance with regulations and facilitate customs clearance?

Bill of Lading

Sales Invoice

Certificate of Origin

Purchase Order

6 of 15

The maximum number of shareholders in a public liability company is

A. twenty

B. one hundred

C. fifty

D. unlimited

7 of 15

The difference between the total payments for imports and the receipts from exports within a given period is referred to as

A. balance of payments

B. balance of trade

C. comparative cost advantage

D. comparative advantage

8 of 15

Which of the following items has the shortest effect on the consumer

A. fashion

B. innovation

C. fad

D. attribute

9 of 15

What are fixtures and fittings in a balance sheet?

A. liquid capital

B. current assets

C. fixed assets

D. working capital

10 of 15

The main advantage of road transport is that it is

A. convenient and flexible

B. cheap and direct

C. common and fast

D. safe and available

11 of 15

Which of the following is a primary objective of advertising in commerce?

To increase the cost of production

To inform potential customers about a product or service

To reduce competition in the market

To eliminate the need for market research

12 of 15

The major objective of corporate mergers is to

A. minimize the effects of taxation

B. increase financial advantage

C. faclitate profit maximization

D. enhance economies of scale

13 of 15

A company earned a total revenue of N108 million with a total cost of N91 million in 1991. If it paid 45% tax on its gross profit for that year, determine its net profit.

A. N24.65 million

B. N17.00million

C. N9. 35 million

D. N7.65million

14 of 15

The rate at which a country's exports exchange for its imports is called

A. balance of payments

B. balance of trade

C. terms of payment

D. terms of trade

15 of 15

When a vendor supplies newspapers from house to house and across the streets, the element of marketing mix involved is

A. product

B. price

C. promotion

D. place

Commerce Past Questions Practice

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There are 15 questions in total