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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.

4,313 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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4,313 questions

Question 1 of 20 4,313 total questions

Question 91

jamb 2024

An agent held responsible for non-payment of goods bought by the customer he introduced to his principal is called agent

Ageneral

Bspecial

Csales

Ddel-credere

View Explanation & Discuss

Question 92

jamb 2024

A type of partnership in which all partners have unlimited liability and jointly manage the business is known as partnership.

Aordinary

Bnominal

Cunlimited

DLimited

View Explanation & Discuss

Question 93

jamb 2024

Which of the following types of insurance is usually excluded from the principle of indemnity?

AFire

BFidelity Guarantee

CMarine

DLife

View Explanation & Discuss

Question 94

jamb 2024

The term "caveat emptor" implies that

Agoods have been transferred to the buyer

Blet the buyer beware

Clet the seller beware

Dgoods are still with the seller

View Explanation & Discuss

Question 95

jamb 2024

A dealer who buys securities at low prices in anticipation of reselling them at higher prices is called a

Ajobber

Bbull

Cbroker

Dbear

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Question 96

jamb 2024

One of the easiest means of transporting petroleum product is by

Apipeline

Bair

Croad

Drail

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Question 97

jamb 2024

Gross profit can be calculated as

ASales minus purchases

BSales minus cost of good sold

Ccost of goods available for sales minus sale

DCost of good sold minus cost of goods available for sale

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Question 98

jamb 2024

In the event of winding up of a company, who among the following is paid last?

APreference Shareholders

BOrdinary shareholders

CCumulative preference shareholders

DDebenture holders

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Question 99

jamb 2024

The Nigeria Enterprises promotion Decree brought about policy

Anationalization

Bindustrialization

Cindigenization

Dprivatization

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Question 100

jamb 2024

A ship which has no fixed schedule and travels wherever it can find cargoes to carry is a

Aliner

Btanker

Ctramp

Dferry

View Explanation & Discuss

Question 101

jamb 2024

Which of these is NOT a governments legislation to protect the consumer?

AFoods and drugs

BWeight and measure

CPrivatization and commercialization

DTrade description

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Question 102

jamb 2024

The advertising medium which uses electric current in bulbs is referred to as

Aposters

Btelevision

Cneon signs

Dbill boards

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Question 103

jamb 2024

Bonded warehouse is controlled and supervised by

Acustoms

Bnavy

Cimmigration

Dpolice

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Question 104

jamb 2024

The association that encourages savings for the benefit of its members is known as

AConsumer association

BCredit and thrift co-operative society

CConsumer co-operative society

DProducer co-operative society

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Question 105

jamb 2024

The aid to trade which enables producer and consumer to transact business without physical contact is known as

Atourism

Bcommunication

Cadvertising

Dinsurance

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Question 106

jamb 2024

The principle of insurance which ensures that an individual is restored to his former position after suffering a loss is

Autmost good faith

Binsurable interest

Cindemnity

Dsubrogation

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Question 107

jamb 2024

The rules and regulations guiding the conduct of business transactions are known as law

Acriminal

Bcommon

Ccontract

Dcommercial

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Question 108

jamb 2024

Departmental store, supermarket and chain store are examples of

Asmall scale retailers

Bmedium scale producers

Clarge scale retailers

Dlarge scale whole-salers

View Explanation & Discuss

Question 109

jamb 2024

The documents sent by the suppliers of good to a prospective buyer, informing him of what to pay if he buys the good is

Acredit note

Badvice note

Cinvoice

Ddebt note

View Explanation & Discuss

Question 110

jamb 2024

The following are functions of marketing EXCEPT

Apackaging

Bdistribution

Cinsurance

Dadvertising

View Explanation & Discuss

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