Test Sample Welcome to your Commerce 1. Which of the following is NOT part of Pre-Sales Service? Deselect Answer granting of credit or hire purchase sales facilities assisting the prospective buyer to set up facilities for storage dispatching of quotation and price list providing detailed information about goods to be purchased None 2. Which of the following does a seller send in reply to a letter of inquiry? Deselect Answer quotation credit note debit note delivery note None 3. The sum which the insured pays periodically to his insurance company is called Deselect Answer a commission an indemnity a policy a premium None 4. The main objective of nationalization of industries is to Deselect Answer prevent existing firms from liquidation Make more profit for the government prevent all aliens from taking part in the business activities of a country bring an Industry under state ownership and control None 5. Closing stock is also known as Deselect Answer stock at close balance brought forward opening inventory stock at beginning None 6. The first Nigerian enterprises promotion decree was promulgated in Deselect Answer 1972 1973 1974 1977 None 7. An agreement that is enforceable in law is called Deselect Answer an offer a decree a contract a declaration None 8. A tax paid on goods manufactured and consumed in your country is called Deselect Answer excise duty goods tax income tax custom duty None 9. Which of the following is NOT an aim of advertising? Deselect Answer inspiring public confidence in the goods arousing the interest of the public reducing the cost of the goods produced attracting the attention of the public None 10. Prospectus in relation to a public limited inability company means Deselect Answer a document stating the types or shares an invitation to the public to collect dividends an invitation to the public to buy shares attracting the attention of the public None 11. Which of the following CANNOT be sold through a vending machine? Deselect Answer shoes tickets snacks tea None 12. An allowance made to a customer for prompt payment is known as Deselect Answer bulk discount commission cash discount allowance None 13. A person who runs a business on his own account is called a Deselect Answer customer sole trader director partner None 14. All the following are principles of insurance EXCEPT Deselect Answer insurable interest particular average utmost good faith subrogation None 15. One of the following does NOT fit into the group. Deselect Answer agriculture carpentry fishing mining None 16. A public limited liability company is owned by Deselect Answer government shareholders general public debenture holders None 17. An instruction to an agent abroad restricting him to buy from a named manufacturer is known as Deselect Answer pro forma invoice an open indent a closed indent an order None 18. Which of the following can be used to establish an importer's title to goods? Deselect Answer cargo receipt way bill bill of lading import license None 19. Fishing is an example of Deselect Answer direct services manufacturing industry extractive industry construction industry None 20. The rights of the consumers does NOT include Deselect Answer the right to a healthy environment the right to be informed the right to fix prices the right to choose None
