WAEC QUESTIONS CONTD

COMMERCE 101 Hey Readers, Happy New Week. Well its Holiday Season so it's time to slow down on the tutorials and intensify the questions revision from JAMB, GCE, WAEC etc in order to remember what we have done previously and to test ourselves. We started Last week and we are continuing today, So let's get started....... 1. A Shop Repairer is engaged in a? a. Service Occupation b. Manufacturing c. Extractive Occupation d. Commercial Occupation. 2. The goods that are used for the Production of other goods are known as? a. Commercial...

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COMMERCE 101

ANSWERS TO REVISION QUESTIONS Hey Everyone, How you doing. LOLZ, I hope this wasn't hard to figure out. I hope it was easy to get the answers to the Questions we had this past weeks. It's fun to test ourselves and know where to improve on and what we are really good at. Today, we are answering them together, So Good luck!!!! 1. B- Distribution and Exchange of Goods and Services. 2. B- Assists in Raising Capital. 3. B- Creation of Utilities. 4. C- Labour. 5. D- Extractive Occupation. 6. C- Packaging. ...

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COMMERCE 101

WAEC QUESTIONS CONTD Hey Readers, Happy New Week. Well its Holiday Season so it's time to slow down on the tutorials and intensify the questions revision from JAMB, GCE, WAEC etc in order to remember what we have done previously and to test ourselves. We started Last week and we are continuing today, So let's get started....... 37. Which of the Following receives Dividend based on Patronage? a. Preference Shareholder b. Co-operative Society Member c. Cumulative Preference Shareholder d. Debenture Holder. 38. If a Customer opens...

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COMMERCE 101

WAEC QUESTIONS CONTD Hey Readers, Happy New Week. Well its Holiday Season so it's time to slow down on the tutorials and intensify the questions revision from JAMB, GCE, WAEC etc in order to remember what we have done previously and to test ourselves. We started Last week and we are continuing today, So let's get started....... 25. Information requested from a Bank Concerning the Credit worthiness of a New Customer to a Business is a. Private Enquiry b. Status Enquiry c. General Enquiry            ...

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COMMERCE 101

WAEC QUESTIONS CONTD Hey Readers, Happy New Week. Well its Holiday Season so it's time to slow down on the tutorials and intensify the questions revision from JAMB, GCE, WAEC etc in order to remember what we have done previously and to test ourselves. We started Last week and we are continuing today, So let's get started....... 13. The Main Purpose of Sending Delivery Notes along with Goods is to a. Enable the Goods to be Checked on Arrival b. Enable the Buyer to Pay the Correct Delivery Charges c. Ensure the Safe Delivery of the Goods d....

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COMMERCE 101

WAEC QUESTIONS Hey Readers, Happy New Week. Well its Holiday Season so it's time to slow down on the tutorials and intensify the questions revision from JAMB, GCE, WAEC etc in order to remember what we have done previously and to test ourselves.  So let's get started....... 1. Commerce can be defined as the a. Exchange of Goods and Services b. Distribution and Exchange of Goods and Services c. Distribution of Services at Home d....

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COMMERCE 101

BANK Hey Guyz, Hows your week going. Happy New Week and Be Blessed. So Let's Get Started!!! Bank is a financial institution, set up purposely for safekeeping of money valuable goods and documents like Wills & Others. They are institutions that create money, and give out loans to people. Types of Banks: They are different types of banks and they include: 1. Commercial Bank 2. Central Bank 3. Merchant Bank 4. Saving Bank 5. Development Bank. COMMERCIAL BANK   Commercial Banks are setup for keeping and lending money to...

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COMMERCE 101

MONEY Hey Readers, How you doing y'all? lolz- how are you, your family, school, friends, even those people you don't like too much... I pray God brings Matchless Peace and Love your way and to everyone you are related to in Jesus Mighty Name- Amen. Today we are talking about the most wanted thing in the world-Money!!!. Lolz- Let's Begin.... Money can be defined as any medium of exchange which is generally accepted by the people, in payment for goods and services or settlement of debt and at the same time as a measure or stock of value. Trade...

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COMMERCE 101

PARTNERSHIP Hello Peepz, Hows Life? HOW ARE YOU???. Be more positive and more thankful because they are alot of people all over the world that would die to have what you have or kill to be you- so you are a STAR to someone somewhere JUST D WAY U ARE. Yes YOU!!!!. It Is Well with You in Jesus Name-Amen. Okay, Let's get straight to work!!!!. Partnership is a relationship that exists when two or more persons contribute skills or money in order to establish, own and manage business activities, with the aim of making profit. Partnership is...

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COMMERCE 101

SOLE PROPRIETORSHIP Hey Everyone, Happy New Week. This week shall bring Good News for everyone of us in Jesus name- Amen. so let's get started....  A Sole Proprietorship may be defined as a business organisation established, owned, financed and controlled by one person with the arms of making profit. This form of business unit is one of the oldest type of business organisation owned by individuals. In other words, it is a type of business unit in which one person provide the capital, bear the risk and takes full responsibilities of...

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COMMERCE 101

DOCUMENTS INVOLVED IN TRANSPORTATION Hey Everyone, Happy New Week. This week shall bring Good News for everyone of us in Jesus name- Amen. so let's get started.... 1. Consignment Note: is a document that prove that goods have been delivered. It is sent by the consignor through the carrier to the consignee to sign in evidence that the goods are in order. 2. Certificate of Insurance: is a document which shows that the goods have been insured against risks or loss by the exporter. 3. Airways Bill: is a document used to transport goods by...

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COMMERCE 101

MEANS/METHODS OF TRANSPORTATION Hey Everyone, Hope the week is going well? It Is Well with You in Jesus Name- Amen. Today we are continuing from where we stopped last week. Let's get started.... There are four major forms of Transport namely: 1. LAND TRANSPORT  This means of Transportation is very good for trading within a country. It is a means of conveying goods and passengers from one place to another through land. Land Transport can be divided into: Road and Rail Transport. a. Road Transport is the most extensively used,...

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COMMERCE 101

QUOTING PRICE IN INTERNATIONAL TRADE Hey Guyz, Happy Monday.  Hows your week so far, great right???. lolz- God has been Faithful and We are grateful. So let's get started.... 1. Cost, Insurance and Fright (C.I.F)- This price means that the prices quoted includes the cost of the goods, the fright and insurance up to the port of destination while the purchaser is responsible for other subsequent charge. 2. Free On Board (F.O.B)- means that the price covers all cost up to the ship including charges, payable for loading goods on the ship. 3. Franco-...

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COMMERCE 101

DIFFERENCE BETWEEN BALANCE OF PAYMENT AND TRADE Hey Guyz, Happy New Week to Everyone, Hope your weekend was great and restful. Mine was indeed restful, don't you just love the weekend???. lolz. well its Monday again but not to worry God is here to make it has blessed as possible for us. May the rest of your day and week be awesome and full of love. So Let's get straight to the Point... Balance of Trade is the relationship between the values of a country's import and export of visible items within a particular period of time. If visible Exports...

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COMMERCE 101

DIVISION OF FOREIGN TRADE Hey Guyz, Happy New Week. Hurray!!!!. Am just over the Moon because God kept me ALIVE and You!!!! yes you. I thank God for your Life today and I know he has an amazing plan for you today. Therefore CONGRATULATIONS in advance!!!!. Let's get Started. International otherwise called Foreign Trade can be divided into the following: # Import                                                       # Export                                                           # Entreport 1. IMPORT It is...

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COMMERCE 101

FOREIGN TRADE Hey Guyz, Alot has happened let me gist you. Lolz. So it's been a while since I posted and thats because I was concluding plans to launch my second blog, this one would be a personally-run blog no other Authors and it's so exciting. I will release more info when its ready. That aside, well we know some of you would like to have other subjects/courses covered on this site so we have been searching for the right Candidates for these Positions and GOOD NEWS!!!, we found someone. She has been a friend for a while now and she would...

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COMMERCE 101

WAREHOUSING Hey Everyone, Happy New Week. This week shall bring Good News for everyone of us in Jesus name- Amen. Today we are in a New Topic entirely, so let's get started. Warehousing is the act of storing goods produced or bought in a place until they are needed. It ensures that there is a regular and steady supply of goods. In Other Words, It's just a place set aside for loading already produced goods to make room for more production and also where they can be stored until demand is made by customers. TYPES OF WAREHOUSE: a. BONDED WAREHOUSE-...

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COMMERCE 101

TYPES OF WHOLESALERS Hey Everyone, How is your week so far. The Month of April is beautiful isn't it? LOLZ, Yes it is. Well may you experience all the Goodness of God for this month in Jesus name- Amen. Today we are continuing where we stopped last week with the above mentioned topic, so let's get started. Wholesalers can be classified into two broad categories namely: 1. MERCHANT WHOLESALERS- They buy and resell goods on their own account, taking title of the products they handle and conveying the title directly to those they deal with. FUNCTIONS...

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COMMERCE 101

WHOLESALE TRADE Hey Everyone, Hows this New Monday Morning to you, isn't is beautiful and full of promises and answered prayers. LOLZ, Yes it is. Well Let's get straight to out topic for today. WHOLESALING is a business activity which involves buying of goods in bulk from the Producer and selling in small quantities to the Retailers as well as other merchants. Wholesaling is included in the Channel of Distribution. FUNCTIONS OF THE WHOLESALER TO THE PRODUCER: a. The Wholesaler purchases Goods in Large Quantity From the Producer. b. He makes...

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COMMERCE 101

MODERN TRENDS IN RETAILING Hey Everyone, Hope the week is going well? It Is Well with You in Jesus Name- Amen. Today we are continuing from where we stopped last week. It's the First week of April by the way, how cool is that? New Trends have been introduced in Retailing Business because of the dynamic nature of commercial activities. In order to enhance and facilitate Business Activities, New Ideas and Techniques have been introduced and they include: a. Branding b. Self Service c. After Service d. Vending Machine e. Pre-Packaging f....

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