Study and practice Commerce past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
The organisation of petroleum exporting countries (OPEC) is an example of a/n......
Aamalgamation
Bcartel
Cconsortium
Dholding company
Emerger
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Question 2
neco2004
The major divisions of commerce are
Abuying and selling
Bexport and import
Cforeign and home
Dtrade and aids to trade
Ewholesale and retail
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Question 3
neco2004
Which of the following is NOT part of the documents to be submitted for the registration of companies?
AA statement of nominal capital
BA statutory declaration signed by a solicitor
CArticles of Association
DMemorandum of Association
EThe balance sheet of the company
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Question 4
neco2004
The services offered by the following people .could be grouped under direct services. EXCEPT
Adoctors
Bentertainers
Clawyers
Dpolicemen
Eteachers
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Question 5
neco2004
A voluntary body formed by members of a particular branch of trade or industry to represent interest of members is known as
Achambers of commerce
Bcooperative society
Ctrade association
Dtrade commissions
Etrade union
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Question 6
neco2004
In a private limited liability company shares can be transferred
Aat the end of a financial year
Bby applying to the registrar of companies
Cwithout consulting other shareholders
Dwith the consent to other shareholders
Ewith the consent of the managing director
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Question 7
neco2004
The full amount of capital which a company is authorized to raise is stated in the
Aarticles of association
Bcertificate of incorporation
Ccertificate of trading
Dmemorandum of association
Eshare certificate
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Question 8
neco2004
In limited liability company, the liability of a member at the time of liquidation is limited to the amount of shares.
Aallotted
Bcalled up
Cpaid for
Duncalled up
Eunpaid for
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Question 9
neco2004
Trade may be defined as
Abuying and selling of goods
Bbuying and selling of goods and services
Cdistribution goods
Dproduction of goods
Eselling of goods and services
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Question 10
neco2004
The creative management function which promotes trade and employment by assessing consumer needs and initiating research and development to meet them is known as
Aadvertising
Bdistributing
Cmarketing
Dplanning
Etrading
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Question 11
neco2004
In international trade, ...... is used to show the exact country where the goods are imported.
Abill of lading
Bcertificate of origin
Cconsular invoice
Ddock receipt
Eshipping note
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Question 12
neco2004
Credit in business transaction is a. ......
Acompliment to a good customer
Bform of loan
Cmeans of saving money
Dprepayment by customers
Erebate for large purchases
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Question 13
neco2004
An industry whose major actors consists of those engaged in sourcing raw materials from the earth surface is known as .... industry.
Acommercial
Bconstruction
Cextractive
Dmanufacturing
Emining
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Question 14
neco2004
The value of money is measured by the
Aamount of goods and services a unit of it can purchase
Bamount of its unit people can hold
C. ease at which people can spend a unit of it
Dquantity of it in circulation
Erate of national development
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Question 15
neco2004
The right to retain possession of property of another until certain legitimate demands are satisfied is known as
Aagency
Bcopyright
Cguarantee
Dlien
Epatent
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Question 16
neco2004
Who among the following assess goods on arrival at a port?
AAgent
BCustoms
CImporter
DShipping company
EShip owner
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Question 17
neco2004
The prospectus of a company must include
Anames and addresses of management staff
Bthe certificate of incorporation
Cthe directors remuneration
Dthe value of annual dividend
Etypes of shares available and their cost
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Question 18
neco2004
Business transactions are usually based upon agreements known as
Aconfidence
Bcontract
Cgood-will
Dproposal
Eunderstanding
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Question 19
neco2004
A business person who contracts to sell shares in the expectation of a fall in price is a
