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Commerce Past Questions

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A pro forma invoice is NOT required when
  • A. quoting for the supply of goods
  • B. goods are sent on approval
  • C. dealing regularly with a customer
  • D. final prices are uncertain
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Which of the following statements is TRUE about sea transport?
  • A. all ships have specific routes to ply
  • B. all ships must be insured at every journey
  • C. all ships are insured separately from the crew
  • D. all ships normally arrive at their destination with goods
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The postal organization which preceded the Nigerian Postal Service is
  • A. Post and Telecommunication
  • B. Post and Telephone
  • C. Post and Teleprinter
  • D. Post and Telegraph
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Goods discharged from ships on which import duties have not been paid are kept in the
  • A. ordinary warehouse
  • B. public warehouse
  • C. private warehouse
  • D. bonded warehouse
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A sole proprietor insured his goods worth N200,000 for half the value. There was a fire accident in which goods valued N80,000 were destroyed. The value of compensation expected from the insurer is
  • A. N40,000
  • B. N80,000
  • C. N100,000
  • D. N200,000
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