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1
Paper money originated in form of receipt given by?
A money lenders
B goldsmiths
C bankers
D traders
↪ Answer
Correct Option: B
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2
The major divisions of Commerce are?
A import, export and transport
B trade, communication and warehousing
C trade and auxiliaries to trade
D exchange, consumption and production
↪ Answer
Correct Option: C
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3
Which of the following statements is not true?
A Commercial services are the life's blood of a country's economic system
B There cannot occur commercial services unitl goods have been produced
C Without commercial services must goods and services will not produced
D There is no stage of production that does not employ commercial services
↪ Answer
Correct Option: B
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4
The three main division of production include industrial?
A commercial banking services
B commercial and services
C transportation and services
D manufacturing and services
↪ Answer
Correct Option: B
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5
Which of the following does not belong to the industry?
A Farming
B Insuring
C Mining
D Drilling
↪ Answer
Correct Option: B
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6
Which of the following is one of the functions of commerce?
A Manufacturing
B Growing of tomatoes
C Storage of goods
D Construction of roads
↪ Answer
Correct Option: C
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7
Opening stock.................N1000
Closing stock.................N9000
Purchases.....................N14,000
The average stock is?
A N2000
B N3000
C N5000
D N6000
↪ Answer
Correct Option: C
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8
Opening stock.................N1000
Closing stock.................N9000
Purchases.....................N14,000
The cost of goods sold is?
A N6000
B N10000
C N42000
D N16000
↪ Answer
Correct Option: A
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9
The oldest and commonest form of business in Nigeria is?
A partnership
B the co-operative society
C sole proprietorship
D joint stock veture
↪ Answer
Correct Option: C
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10
If a retailer Mr. Aigbojie buys goods manufactured by Adefila Limited from wholesaler Mrs. Jumai, who will prepare the delivery note?
A Mr. Aigbojie
B Adefila Limited
C Mr. Jumai
D Mr. Aigbojie and Adefila Limited
↪ Answer
Correct Option: C
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