Commerce Past Questions

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.

99 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2
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Past Questions

99 questions
Question 1 of 20 99 total questions
Question 1
waec 2010

Which of the following mode of transport involves the use of tramps?

ALand transport
BSea transport
CAir transport
DPipeline
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Question 2
waec 2010

Ojo bought a bicycle for #20,000, and repaired it at a cost of #5,000. He then sold the bicycle for #30,000.

What is the cost of goods sold

A#30,000
B#25,000
C#20,000
D#15,000
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Question 3
waec 2010

Ojo bought a bicycle for #20,000, and repaired it at a cost of #5,000. He then sold the bicycle for #30,000.

What is the percentage of expenses over cost?

A50%
B33%
C25%
D17%
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Question 4
waec 2010

Ojo bought a bicycle for #20,000, and repaired it at a cost of #5,000. He then sold the bicycle for #30,000

What was his net profit?

A#35,000
B#25,000
C#15,000
D#5,000
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Question 5
waec 2010

Which of the following ancillary services makes it possible for goods to be where they are required?

ACommunication
BBanking
CTransportation
DInsurance
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Question 6
waec 2010

A firm on the stock exchange which agrees to buy shares not bought after a public offer is

Aa broker
Ba stag
Ca jobber
Dan underwriter
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Question 7
waec 2010

Which of the following is not a function of a retailer?

AProviding after sales services
BStocking variety of goods
CSelling in small unites to the consumers
DFinancing manufacturers
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Question 8
waec 2010
The publication of facts from a firm's product is called
Amerchandizing
Bexhibition
Cfeature articles
Dmass advertising
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Question 9
waec 2010

Which of the following is not contained in a deed of partnership?

ANames and addresses of partners
BRatio for sharing profits and losses
CInvestment of each partner
DRate of taxation
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Question 10
waec 2010
The practice of selling the product below the cost price to attract customers to a shop is known as
Ahedging
Bloss leader
Cskimming
Dunder-invoicing
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Question 11
waec 2010

Which of the following is not a feature of co-operative society?

AOwners are the customers
BCapital can be repaid to a member
CVotes are according to shares held
DDividend is based on patronage
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Question 12
waec 2010

Government financial grants is a source of capital to a

Apartnership
Bpublic limited company
Cpublic corporation
Dco-operative society
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Question 13
waec 2010

The work of actuaries is to

Aunderwrite insurance risks
Bcalculate insurance premiums
Csettle insurance claims
Dassess profits for insurance companies
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Question 14
waec 2010

A mortgage bank is primarily concerned with financing the acquisition of

Amotor vehicle
Bresearch equipment
Ccomputer machine
Ddwelling houses
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Question 15
waec 2010

The legal document that gives a individual power to protect his own piece of invention is called

Acopyright
Blicense
Cpatent right
Dtrademark
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Question 16
waec 2010

Which of the following is used for a single payment of many people at the same time through a bank instead of writing separate cheques?

ADebit transfer
BCredit transfer
CCertified cheque
DCrossed cheque
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Question 17
waec 2010

Which of the following is not an advantage of partnership?

ADiversified managerial talents
BGreater financial resources
CFreedom to terminate business
DAccount is not made public
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Question 18
waec 2010

Which of the following is not a source of fund for sole-proprietorship?

APersonal savings
BBorrowing from friends and relatives
CBorrowing from financial institution
DGovernment bonds
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Question 19
waec 2010

Which of these qualities guarantees the keeping of money for a long period?

AAcceptability
BDivisibility
CDurability
DHomogenity
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Question 20
waec 2010

Sole proprietorship is a form of business owned by

Aan individual
Btwo or more persons
Ca registered business subsidiary
Dthe government
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