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Commerce OBJ:
1-10: DBCCCDBDAB
11-20: BCCDBBABAA
21-30: DDCCAABCAC
31-40: DABCABAACB
41-50: DDACBCCBAA

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(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

(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

(i) 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

(ii) 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

(iii) 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

(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.

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(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

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(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.

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(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 i.e 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