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.

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

97 questions
Question 1 of 20 97 total questions
Question 1
waec 2013

To take an insurance policy, an applicant must first complete a/an

Aproposal form
Bcover note
Ccertificate of insurance
Dadvice note
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Question 2
waec 2013
Which of the following price quotations requires the buyer to take delivery at the manufacturer's warehouse?
AEx-works
BF.O.R
CF.O.B
DD.F.A.S
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Question 3
waec 2013

The insurance principle of indemnity does not apply to

Afire insurance
Blife assurance
Cburglary insurance
Dmarine insurance
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Question 4
waec 2013

The ancillary to trade which ensures that people have access to information pertaining to goods is

Ainsurance
Badvertising
Cwarehousing
Dbanking
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Question 5
waec 2013

A term which describes the value of business connections made by a company over the years is known as

Apatent
Bcopyright
Cgoodwill
Dtrade mark
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Question 6
waec 2013

A person who undertakes responsibility for forming a new company is

Aauditor
Bsolicitor
Cregistrar
Dpromoter
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Question 7
waec 2013

The process of winding up a public limited company by a court order is known as

Atermination
Bdissolution
Cvoluntary liquidation
Dcompulsory liquidation
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Question 8
waec 2013

A country is said to achieve a trade surplus when total

Avisible exports exceed total visible imports
Binvisible exports exceed total invinsible imports
Cvisible exports exceed total invisible imports
Dvisible imports exceed total visible exports
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Question 9
waec 2013

A physical restriction placed on the quantity of goods that can be imported is

Aa ban
Ba quota
Can excise duty
Dan import tax
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Question 10
waec 2013

Direct sales to consumers by manufacturers is a means of eliminating

Awholesalers only
Bretailers only
Cmiddlemen
Dagents
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Question 11
waec 2013

The selling of goods in small units is normally performed by

Achambers of commerce
Bwholesalers
Cdistributors
Dretailers
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Question 12
waec 2013

A tariff refers to

Afees imposed on contraband goods
Bfees paid on exports
Ctaxes imposed on imported goods
Dtaxes paid on home-made goods
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Question 13
waec 2013

Ad valorem duties are based on the

Aimportance of the goods imported
Bvalue of the goods imported
Cweight of the goods imported
Dnature of the goods imported
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Question 14
waec 2013

Which of the following is not a function of warehousing

ACreating security of goods
BStabilization of price
CProduction ahead of demand
DStorage of goods
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Question 15
waec 2013

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

Aderegulation
Binflation
Cdevaluation
Drevaluation
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Question 16
waec 2013

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

AGuaranteed profit
BQuick decision-making
CUnlimited liabilty
DBuying on credit
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Question 17
waec 2013

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

Afixed capital
Bcapital employed
Cpaid-up capital
Dworking capital
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Question 18
waec 2013

A Ltd. Company has an authorized capital of 2,000,000 shares of D5 each. If the company issued 1,200,000 shares, its issued capital is

AD 10,0000,000
BD6,000,000
CD4,000,000
DD2,000,000
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Question 19
waec 2013

The difference between current assets and current liabilities is

AIssued capital
Bcapital employed
Cworking capital
Dnominal capital
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Question 20
waec 2013

A personal computer on sale in an office equipment shop is an example of

Astock
Bfixed asset
Cliability
Dfixed capital
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