Author Topic: NABTEB GCE 2013/2014 Commerce Objective and Essay/Theory Questions And Answers (Read 2984 times)

MEGAX · « **on:** November 24, 2013, 07:50:34 am »

NABTEB GCE 2013/2014 Commerce (Objective and Essay, Theory) Questions And Answers

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Verified COMMERCE OBJ:
1-10: caddaddbac
11-20: abddbbbbbb
21-30: cdcdbaabbc
31-40: acddbbdaba
41-50: dbcbaababc

ESSAY/THEORY:

Quote

NOTE: You are told to answer only 5 Questions, We provided you with 6 Answers, So make your Choice. GOODLUCK!!

(1)
Cost of goods used/average stock= rate of turnover
Average stock=((opening +closing)/2)stock
=(2500+3000)/2=5500/2=2750
RoT=15000/2750=5.45 =5
(ii)N2900
(iii)N19500
(iv)(network/sales)*1000
(19500/4400)*100=44.3%
(v)N15000a€Γ

(2a)
-public relations endures the maintenance of a favourable relationship between an organization and its public.
-it helps in maintaining good personal relations with the employment.
-public relations helps to increase the goodwill of a company.
-one of the aims is to advertise the products of the organization.
-it helps to build the image of a company or organization.

(2b)
-home delivery
-free installation services
-servicing, repairs and maintenance
-provision of spare parts
-provision of free advice on use.

(6a)
-It is very fast: the speed is very high, hence it the fastest means of transportation.
-suitable for perishable and fragile goods: air transport is is the most suitable for perishable, expensive and fragile items
-moves on schedule: it is very reliable because it travels on schedule.
-routes are not costly: it cost nothing to provide route for air transport.
-comfortable and luxurious: this is by far the most comfortable and luxurious means of transportation.

(6b)
-movement of goods and persons: transportation facilitates the movement of goods and persons from one place to another.
-effective and efficient distribution of goods: transportation facilitates and quickens the effective distribution of goods and services to areas where they are needed.
-development of specialization: Improved means of transport is an essential ingredient in the development of division of labour and specialization which makes mass production possible.
-employment opportunity: all means of transportation employs lots of people, thereby, enabling them to earn a living.
-it influences the location of industries: the existence of good transport network do help in the location of industries.

(7a)
The insured will make an inquiry through the agent to the insurance company. After due consultation,he will obtain a proposal form. The form will be filled and relevant information relating to the insured must be truthfully stated and signed by the insured. Consideration in the form of premium will be paid to the insurance company on a weekly, monthly, or yearly basis, depending on the agreement.
The insurance company will then issue out a temporary cover called cover note which gives him a temporary cover while it is being processed. After processing, the insurer will issue out an insurance policy to the insured. This policy will give detailed terms of the insurance contract and make the insurer liable for losses or liabilities incurred as result of the occurrence of risk insured against.

(7b)
-hull insurance
-cargo insurance
-ship owners liability
-freight insurance.

(9)
-Labour
-capital
-enterpreneur

Labour is defined as all forms of human efforts put into or utilized in production. It also refers to all manners of physical and mental exertions in the process of production. The reward for labour is wages and salaries. Example of labour are doctors and carpenters.

Capital may be defined as man-made assets used in production. It can also refer to the man-made wealth and services used to produce other goods and services. The reward for capital is interest.

Examples are buildings and machinery.

Entrepreneur can be defined as the factor of production and organizes other factors of production (land, labour and capital) in order to produce goods and services. The entrepreneur bears the risks and takes major decisions of the business. The reward for entrepreneur. Examples are sole proprietor and partnership.

(10)
-problem of double coincidence of wants
-problem of indivisibility
-it discourages borrowing and lending
-waste of time and effort
-no room for deterred payment
-Problem of double coincidence of wants: this involves looking for someone who is in need of what you want and at the same time has what you need.
-Problem of indivisibity: many goods cannot be divided into small convenient units because they are heavy and indivisible.
-It discourages borrowing and lending:borrowing and lending under trade by barter is practically impossible as there is no standard unit of measurement.
-waste of time and effort:barter system leads to waste of time and energy because one has to search for somebody to exchange goods with.
-no room for deterred payment:in trade by barter, there is no room for deterred payment. One cannot collect certain goods and hope to pay another day.

MEGAX · « **Reply #1 on:** November 25, 2013, 10:49:54 am »

NOTE: You are told to answer only 5 Questions, We provided you with 6 Answers, So make your Choice. GOODLUCK!!

ibrahimsh · « **Reply #2 on:** November 25, 2013, 11:35:27 am »

Tenks alot,i hope i.c.t is loading......?,GOD BLESS EARLYFACE ND MR MEGAX.I HAIL YOU O!.

antonia · « **Reply #3 on:** November 25, 2013, 09:38:08 pm »

antonia · « **Reply #4 on:** November 25, 2013, 09:51:29 pm »

ok ..

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Author Topic: NABTEB GCE 2013/2014 Commerce Objective and Essay/Theory Questions And Answers (Read 2984 times)

MEGAX

NABTEB GCE 2013/2014 Commerce Objective and Essay/Theory Questions And Answers

MEGAX

Re: NABTEB GCE 2013/2014 Commerce Objective and Essay/Theory Questions And Answers

ibrahimsh

Re: NABTEB GCE 2013/2014 Commerce Objective and Essay/Theory Questions And Answers

antonia

Re: NABTEB GCE 2013/2014 Commerce Objective and Essay/Theory Questions And Answers

antonia

Re: NABTEB GCE 2013/2014 Commerce Objective and Essay/Theory Questions And Answers

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