OAU Commerce 2022/2023 Past Questions

Practice each question, then open it to see the full details.

A businessman who undertakes the hull insurance policy is aiming at

A.covering losses on damages to the cargo
B.protecting injured crew in the ship
C.averting payment of the freight
D.covering damages to the body of the ship

A company that is registered with the Corporate Affairs Commission only without being enlisted on the Stock Exchange is a

A.public liability company
B.joint venture
C.limited company
D.registered company

A contract for the sales of goods involved the

A.producer, the sellers and the buyers of the goods
B.offering of goods to customers
C.transfer of title to goods for money
D.exchange of goods

The money used by Ola Maro and Co. Ltd. in running the day-to-day activities of the business is represented by

A.fixed capital
B.capital employed
C.paid-up-capital
D.working capital

Which of the following is an advantage to a sole trader?

A.Guaranteed profit
B.Quick decision making
C.Unlimited liability
D.Buying on credit

A country's deliberate decision to reduce the value of her currency is called

A.deregulation
B.inflation
C.devaluation
D.revaluation

An aspect of the law which allows an exclusive right for a limited number of years is a

A.copyright
B.trademark
C.ratification
D.patent

Departmentalization is an aspect of

A.planning
B.organizing
C.directing
D.controlling

One of the obstacles to achieving the objectives of ECOWAS is

A.lack of common currency
B.colonial linkages
C.sovereignty of states
D.language differences

A floating policy is an example of

A.marine insurance
B.actuaries insurance
C.motor insurance
D.fire insurance