Past 2017 top best forum
Today's Date
Nigeria free 2018 Gallery
9ja NOTICE: You are currently viewing this website as a Guest and are restricted from viewing some vital information. For more permissions on Earlyface.com.ng? Like posting Comments, Topics and Uploading contents without Verification And Moderator's approval. Fast loading and quick accessibility. Registration is required. Please Login or Register now to gain full access. It is fast and free!!

CLICK HERE NOW TO BECOME EARLYFACE MEMBER...


Author Topic: CORRECT; 2019/2020 COMMERCE QUESTIONS AND ANSWERS Expo/Runs free  (Read 1093 times)

0 Members and 2 Guests are viewing this topic.

Offline Yonnie

  • VIP MEMBER
  • Peace Member
  • *
  • Posts: 119
  • Vote for me: +16/-1
  • Location: Abuja
ANSWERS LOADING.......

Offline JEFFREY96

  • Global Moderator
  • Earlyface VIP
  • Posts: 13571
  • Vote for me: +1209/-140
  • Location: ISLAND
  • HomeTown: ISLAND

==================================
(6a)
Adverse or deficit balance of payment


(6b)
(i)Foreign exchange control:Foreign exchange control involves the rationing forign exchange in order to reduc balance of payment deficit
(ii)Expenditure reduction:This is used in order to cut down domestic demand and reduce imports
(iii)Expenditure switching:This involves the manipulationof exchange rates to induce people to patronize locally made goods.
(iv)Fiscal control:This involves the raising of tarriffs ie increase import duties in order to reduce balance f payment deficit
(v)Devaluation:Devaluation cheapens exports and makes imports expensive,thus improving balance of payments
(vi)Reduction of imports: The government can restricts imports by the use of tarriffs,quotas and

2a
-wholesale co-operative

-Retail co-perative

2c *Advantages*
-Encourage of saving
-Democratic in nature
-perpetual  Existence
-helps in making member's product

 *Disadvantages*
-problem of loan recovery
-high level of illiteracy
-low dividend
2a
-wholesale co-operative

-Retail co-perative

2c *Advantages*
-Encourage of saving
-Democratic in nature
-perpetual  Existence
-helps in making member's product

 *Disadvantages*
-problem of loan recovery
-high level of illiteracy
-low dividend..

5a) Newspaper Advertising

ii) Journals/Magazine Advertising

iii) TV Advertising

iv)Radio Advertising

v) internet Advertising


5b) Personal selling is also known as face-to-face selling in which a person who is the salesman tries to convince the customer in buying a product. It is a promotional method by which the salesperson uses his or her skills and abilities in an attempt to make a sale.

5c) *Advantages*

i) Two-Way Communication

ii) Immediate Feedback

iii) Individual Services

iv) Flexibility




4a

CHOOSE ONLY THRRE

-Commodities exchanges provide a ready and continuous market for the purchase and sale of commodities. This enables the producer to be independent of middlemen and therefore to derive more value from their production activities.

-They provide hedging facilities, which make them necessary in reducing fluctuations in price of raw material and consequently also reducing fluctuations in the price of finished products.

-Commodities exchanges provide the producers an opportunity to transfer their risk to the professional risk-bearers.

-By providing continuity in the trading of commodities, commodities exchanges induce bankers and financiers to lend against commodities.

-Commodities exchanges provide facilities and opportunities for arbitrating and thus equalizing the price levels of commodities at various centers
   
To be getting all EarlyFace confirmed Updates (latest news in town, free browsing cheats, hottest FREEBIES, post-UTME tips, school matter and Exam stuff) for free through your Facebook and Twitter profile;
 
  • CLICK HERE to Like EARLYFACE on Facebook
  •  
  • CLICK HERE to Follow EARLYFACE on Twitter

  •    
    How To Create A Topic On Earlyface
     
    How To Create A Topic or Post On Earlyface as a Novice.

    Offline JEFFREY96

    • Global Moderator
    • Earlyface VIP
    • Posts: 13571
    • Vote for me: +1209/-140
    • Location: ISLAND
    • HomeTown: ISLAND

    (1a)
    -: Actuarial Science
    -: Management
    -:Chartered Accountancy (C.A)
    -:Company Secretary (C.S)
    1b ( *choose two)*
    -provision of capital
    -risk bearing
    -Efficient management

    1ci) Extractive Industry: its the process that involve the extraction of raw materials from the earth to be used by consumers. The extractive industry consists of any operations that remove metals, mineral and aggregates from the earth.

    1cii) Construction industry: it is a sector of national economy engaged in preparation of land and construction, alteration, and repair of buildings, structures, and other real property.

    1ciii) Manufacturing industry refers to those industries which involve in the manufacturing and processing of items and indulge in either creation of new commodities or in values additions.
     
    1civ) Tertiary Industry: The tertiary industry is the segment of the economy that provides services to its consumers, including a wide range of businesses such as financial institutions, schools and restaurants. It is also known as the tertiary sector.

    *(4c)*

     *Choose only 4*



    1. Certified copy of Memorandum and Articles of Association from
    CAC which should among other things include the power to act as
    a commodity broker with relevant qualification or experience (to be
    sighted by an authorized officer of the Commission).

    2. Credentials of Sponsored Individuals which should include their
    secondary school certificates and NYSC discharge certificates.

    3. Sworn undertaking to keep proper records and render returns as
    may be specified by the Commission from time to time (notarized).

    4. Sworn undertaking to abide by SEC Rules and Regulations and
    ISA No.29 of 2007

    5. Police clearance reports (Sponsored Individuals should
    report at our Lagos office with two passport photographs to start
    the procedure).

    6. Full postal address of immediate previous employers of
    the Sponsored Individuals (as stated in the Form SEC 2)

    7. Full postal address of 2 referees of the Sponsored Individuals
    (as stated in the Form SEC 2)

    8. Full postal address of banker of sponsored individuals with
    personal company account number.

    9. Operational Manual and Organogram of the company

    10. Curriculum Vitae of the Sponsored Individuals which should
    contain details of activities with dates arranged from secondary
    school to date.

    11. Profile of the company

    12. Evidence of Certificate of Commodity Exchange induction course
    by ASCE on the sponsored individuals

    7b
    Advantages and Disadvantages of Railway Transport

    1. Dependable:
    The greatest advantage of the railway transport is that it is the most dependable mode of transport as it is the least affected by weather conditions such as rains, fog etc. compared to other modes of transport.

    2. Better Organised:
    ADVERTISEMENTS:
    The rail transport is better organised than any other form of transport. It has fixed routes and schedules. Its service is more certain, uniform and regular as compared to other modes of transport.

    3. High Speed over Long Distances:
    Its speed over long distances is more than any other mode of transport, except airways. Thus, it is the best choice for long distance traffic.

    4. Suitable for Bulky and Heavy Goods:
    ADVERTISEMENTS:
    Railway transport is economical, quicker and best suited for carrying heavy and bulky goods over long distances.

    5. Cheaper Transport:
    It is a cheaper mode of transport as compared to other modes of transport. Most of the working expenses of railways are in the nature of fixed costs. Every increase in the railway traffic is followed by a decrease in the average cost. Rail transport is economical in the use of labour also as one driver and one guard are sufficient to carry much more load than the motor transport.

    6. Safety:
    ADVERTISEMENTS:
    Railway is the safest form of transport. The chances of accidents and breakdowns of railways are minimum as compared to other modes of transport. Moreover, the traffic can be protected from the exposure to sun, rains, snow etc.

    7. Larger Capacity:
    The carrying capacity of the railways is extremely large. Moreover, its capacity is elastic which can easily be increased by adding more wagons.

    8. Public Welfare:
    ADVERTISEMENTS:
    It is the largest public undertaking in the country. Railways perform many public utility services. Their charges are based on ‘charge what the traffic can bear’ principle which helps the poor. In fact, it is national necessity.

    9. Administrative Facilities of Government:
    Railways provide administrative facilities to the Government. The defence forces and the public servants drive their mobility primarily from the railways.

    10. Employment Opportunities:

    ADVERTISEMENTS:
    The railways provide greater employment opportunities for both skilled and unskilled labour. Over 16 lakh persons are depending upon railways for their livelihood.

    Disadvantages:
    Although railway transport has many advantages, it suffers from certain serious limitations:


    1. Huge Capital Outlay:
    The railway requires is large investment of capital. The cost of construction, maintenance and overhead expenses are very high as compared to other modes of transport. Moreover, the investments are specific and immobile. In case the traffic is not sufficient, the investments may mean wastage of huge resources.


    2. Lack of Flexibility:
    Another disadvantage of railway transport is its inflexibility. Its routes and timings cannot be adjusted to individual requirements.


    3. Lack of Door to Door Service:
    Rail transport cannot provide door to door service as it is tied to a particular track. Intermediate loading or unloading involves greater cost, more wear and tear and wastage of time.
    The time and cost of terminal operations are a great disadvantage of rail transport.


    4. Monopoly:
    As railways require huge capital outlay, they may give rise to monopolies and work against public interest at large. Even if controlled and managed by the government, lack of competition may breed inefficiency and high costs.


    5. Unsuitable for Short Distance and Small Loads:
    Railway transport is unsuitable and uneconomical for short distance and small traffic of goods.


    6. Booking Formalities:
    ADVERTISEMENTS:
    It involves much time and labour in booking and taking delivery of goods through railways as compared to motor transport.


    7. No Rural Service:
    Because of huge capital requirements and traffic, railways cannot be operated economically in rural areas. Thus, large rural areas have no railway service even today. This causes much inconvenience to the people living in rural areas.


    8. Under-utilised Capacity:


    ADVERTISEMENTS:
    The railway must have full load for its ideal and economic operation. As it has a very large carrying capacity, under-utilisation of its capacity, in most of the regions, is a great financial problem and loss to the economy.


    9. Centralised Administration:
    Being the public utility service railways have monopoly position and as such there is centralised administration. Local authorities fail to meet the personal requirements of the people as compared to roadways.
       
    To be getting all EarlyFace confirmed Updates (latest news in town, free browsing cheats, hottest FREEBIES, post-UTME tips, school matter and Exam stuff) for free through your Facebook and Twitter profile;
     
  • CLICK HERE to Like EARLYFACE on Facebook
  •  
  • CLICK HERE to Follow EARLYFACE on Twitter

  •    
    How To Create A Topic On Earlyface
     
    How To Create A Topic or Post On Earlyface as a Novice.

    Offline Yonnie

    • VIP MEMBER
    • Peace Member
    • *
    • Posts: 119
    • Vote for me: +16/-1
    • Location: Abuja
    EARLIER B4 OTHERS ........

    MR JEFF

    Offline JEFFREY96

    • Global Moderator
    • Earlyface VIP
    • Posts: 13571
    • Vote for me: +1209/-140
    • Location: ISLAND
    • HomeTown: ISLAND

    Commerce-Obj
    1DBCCCDBDAB
    11BCCDBBABAA
    21DDCCAABCAC
    31DABCABAACB
    41DDACBCCBAA

    BONUS....
    (8)
    15 cartons of sweets @ N2,000 per carton
    = 15 x 2000 = N30,000
    25 cartons of milk @ N4000 per carton
    = 25 x 4000 = N100,000
    154 cartons of sugar @ N3,000 per carton
    = 15 x 3000 = N45,000
    17 cartons of soap @ N5,000 per carton
    = 17 x 5,000 = N85,000
    (8i)
    Total cost price
    = 30000
    100000
    45000
    85000
    = N260,000
    Les 10% trade discount = 10% x 260,000
    = N26,000
    Invoice price = 26,000
    - (26,000)/134,000
    Less 6% cash discount (8,040)
    Cash paid N125,960

    (8ii)
    mark up = profit/cost price x 100/1
    Therefore 20/100 = profit/125960
    Therefore gross profit = 125,960 x 20/100 = N25,192
    Selling price = cost price + Gross profit
    = 125,960 + 25192 = N151,152

    (8iii)
    Net profit
    Gross profit – Expense
    Total Expanses
    Rent and rates = N3,500
    Salaries and wages = N8,000
    Fuel = N2,000
    Electricity = N1,500
    = N15,000
    Net Profit = 25,192 – 15,000
    = N10,192
    ===================================

    (3a)
    (i)Insufficient Fund: When the amount written on a cheque is more than what the drawer has in his account in the bank.
    (ii)The Death Of The Drawer: If the bank receives information about the death of its customer, the bank will not honour any cheque presented on the account of the dead customer, until further notice.
    (iii)Irregular Signature: It the signature the drawer signs on the cheque differs from the specimen signature in the bank.
    (iv) Non-Existing Account: Sometimes. swindlers who have no bank account but possess false cheque books may issue cheques to those whom they have swindled.
    (v)Bankruptcy: if one is judged by a law court to be unable to pay his debts in full. the bank will dishonour any cheque presented, on behalf of that customer.
    (3b)
    (i) To Correct Balance Of Payments Deficit
    (ii) To Protect Infant Industries
    (iii ) To Avoid Unemployment
    (iv) Source Of Revenue
    (v) The Standard Of Living Argument
    ===================================

    (1a)
    (i) Actuarial Science
    (ii) Management
    (iii) Chartered Accountancy (C.A)
    (iv) Company Secretary (C.S)
    (1b)
    (i)Provision of capital
    (ii)Efficient management
    (1c)
    (i) Extractive Industry: its the process that involve the extraction of raw materials from the earth to be used by consumers. The extractive industry consists of any operations that remove metals, mineral and aggregates from the earth.
    (ii) Tertiary Industry: The tertiary industry is the segment of the economy that provides services to its consumers, including a wide range of businesses such as financial institutions, schools and restaurants. It is also known as the tertiary sector
    (iii) Manufacturing industry refers to those industries which involve in the manufacturing and processing of items and indulge in either creation of new commodities or in value
    (iv)Constructive industry is an industry that is involved in making finished goods from raw materials at a bigger scale. Constructive industry mainly involves works in the building sector such as building houses, hotels, offices, roads, banks, bridges etc.
    ===================================

    (5a)
    (i)Television
    (ii)Radio
    (iii)Newspaper
    (iv)Cinema
    (v)Window display
    (vi)Samples
    (5b)
    Personal selling can be defined as an oral presentation in a conversation with one or more potential buyers for the purpose of making sales.The aim is to inform and encourage the customer to buy or at least try the product
    (5c)
    ADVANTAGES:
    (i)It arouses interest of buyers:This is because the buyer will be given the opportunity to ask question about the suitability of the product
    (ii)It creates product awareness:The product will be popular among the customers or consumers
    (iii)product information gathered from personal contact can be used to develop product preferences based on consumer needs
    (iv)Personal selling enables inputs at individual level to be gathered by the company executives which non personal cannot do
    DISADVANTAGES:
    (i)It is a relatively expensive method of selling.This is so because high capital costs are required
    (ii)It is an extremely labour intensive method:it requires a lot of labour to perform the personal selling
    ===================================

    Use this
    (7a)
    (i)Safe Delivery of Document;Important documents are delivered safely without getting lost in transit.
    (ii)Door to Door Service: Courier companies provide door-to-door delivery services to its customers.
    (iii)Render Services in all Location; They render services to both urban and rural areas.
    (vi)Transportation of Load: Courier companies helps to carry bulky loads over short or long distances.
    (7b)
    -Advantage-
    (i)Safety: Transportation by the means of railway ensures safety for the desired goods because unlike the road transports a train only stops at a desired station instead of the will of the driver.
    (ii)Cheap:
    Railway transport any day is cheaper as compared to air transport. As a matter of fact, railway transport is even cheaper than road transport because of the reason that goods in bulk quantities are carried from a desired destination to the other.
    (iii)Increases Employment:
    Railway transport helps people to carry cheap products from a place to another and sell them at high prices. As a result of this, a number of people who are unemployed find a source of their daily bread.
    -Disadvantage-
    (i)Loss of Goods: Because goods in bulk quantities are carried chances of goods getting lost are high in case of railway transport as compared to air and road transport.
    (ii)Unsafe for Fragile Items: Railway transportation is particularly unsafe for carrying fragile items like glass because these items can easily break at times when a train halts unexpectedly of when the train is speeding up at times.
    (iii)Late Bookings: Because railway is the cheapest medium of transport, it is hard to find suitable bookings for the transportation of your goods. Railway transport is not suitable in cases of emergency.
    ===================================

    (6a)
    Adverse or deficit balance of payment
    (6b)
    (i)Foreign exchange control:Foreign exchange control involves the rationing foreign exchange in order to reduce balance of payment deficit
    (ii)Expenditure reduction:This is used in order to cut down domestic demand and reduce imports
    (iii)Expenditure switching:This involves the manipulation of exchange rates to induce people to patronize locally made goods.
    (iv)Fiscal control:This involves the raising of tariffs ie increase import duties in order to reduce balance f payment deficit
    (v)Devaluation:Devaluation cheapens exports and makes imports expensive,thus improving balance of payments
    (vi)Reduction of imports: The government can restricts imports by the use of tariffs,quotas and outright embargo on imports

    ====================
       
    To be getting all EarlyFace confirmed Updates (latest news in town, free browsing cheats, hottest FREEBIES, post-UTME tips, school matter and Exam stuff) for free through your Facebook and Twitter profile;
     
  • CLICK HERE to Like EARLYFACE on Facebook
  •  
  • CLICK HERE to Follow EARLYFACE on Twitter

  •    
    How To Create A Topic On Earlyface
     
    How To Create A Topic or Post On Earlyface as a Novice.

    Offline Faithdarling

    • Young Earlyfacian
    • Posts: 8
    • Vote for me: +1/-0
    • Location: Uyo
    • HomeTown: Uyo
    Pls We Need Obj

     

    Related Topics

      Subject / Started by Replies Last post
    8 Replies
    700 Views
    Last post August 25, 2020, 03:15:24 pm
    by Lowkey080
    16 Replies
    21209 Views
    Last post August 26, 2020, 03:35:52 pm
    by Aebz
    0 Replies
    442 Views
    Last post September 11, 2020, 12:33:29 pm
    by Tacha Monkey
    2 Replies
    518 Views
    Last post October 22, 2020, 10:52:47 am
    by NORTOLA
    2 Replies
    649 Views
    Last post November 16, 2020, 12:53:37 pm
    by NORTOLA
    3 Replies
    581 Views
    Last post February 27, 2021, 09:25:45 am
    by Richkid500
    1 Replies
    64 Views
    Last post December 04, 2023, 04:56:20 pm
    by MANDINHO

    Updated Topics

    NetContacts Membership Invitation by wedco893
    March 26, 2024, 06:42:58 pm

    NetContacts Membership Invitation by wedco893
    March 26, 2024, 06:26:58 pm

    CORRECT: 2024/2025 JAMB RUNS SUBSCRIPTION( REFORMED PACKAGES) by MANDINHO
    March 24, 2024, 09:11:15 pm

    UK FOOTBALL POOLS COUPON | 30TH MARCH 2024 | WEEK 39: X-02-X by wedco893
    March 24, 2024, 07:40:25 pm

    UK FOOTBALL POOLS COUPON | 23RD MARCH 2024 | WEEK 38: X-05-X by wedco893
    March 18, 2024, 06:52:10 pm

    Solve you've been logout for using unofficial Whatsapp app Gb Whatsapp problem by Wiz.gee
    March 16, 2024, 02:18:51 am

    Girls: Female's Education Ends In Kitchen by Babatunde aliyat
    March 12, 2024, 06:12:54 am


    FBLike US on Facebook.. TWFollow US on Twitter..

    Portal
    Forum
    RSS Feeds
    FAQ
    Members Intro
    Announcements
    Privacy Policy
    Terms Of Use
    Partners
    About Us

    Problem Solutions
    Global News
    Sports
    Celebs
    Politics
    Gists In Town
    General
    Song Lyrics
    Dating
    Religion

    Examination
    Post-UTME/Admission
    School News
    Online Reading
    Scholarship
    Education
    Entertainment
    Download Links
    Stories
    Fashion

    MTN NG
    9Mobile NG
    Airtel NG
    Glo NG
    World Networks
    Pc Tweaks
    Mobile Phone
    Computer Tips
    WebMaster
    Programming

    Browsing Cheats
    Net Tricks
    Health n Welfare
    Latest Jobs
    EarlyFace Group Of Nigeria © 2022