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.
When a customer writes a cheque to withdraw cash from his current account, he is both the?
ADrawer and the Payee
BDrawee and the Payee
CDrawer and the Debtor
DDrawer and the Creditor
EDrawee and the Debtor
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Question 1002
waec1991
Which of the following is not a method of trade restriction?
AExchange control
BStock exchange
CImport licence
DEmbargo
EQuota
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Question 1003
waec1991
Workers involved in mining, quarrying or fishing are engaged in?
ASecondary production
BPrimary production
CTertiary production
DThe manufacturing industry
EThe construction industry
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Question 1004
waec1991
Which of the following is a feature of Co-operative Societies?
AEach member has several votes during meetings
BProfits are shared on the basis of shares held
CAll members have equal votes during meetings
DMembers are not involved in running the business
EThe welfare of members is not taken into consideration
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Question 1005
waec1991
Which of the following must be submitted to the Registrar of Companies before the company is incorporated?
AArticles of Association and Certificate of Incorporation
BMemorandum of Association and Certificate of Incorporation
CArticles of Association and Memorandum of Association
DMemorandum of association and Prospectus
ECertificate of Incorporation and Prospectus
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Question 1006
waec1991
Which of the following involves gathering and analysing information about demand, consumers wants and new products?
ASales promotion
BMarket research
CPersonal selling
DAfter-sales service
EPhysical distribution
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Question 1007
waec1991
The Act designed to reserve certain businesses exclusively for Nigerians is known as the?
ASale of Goods Act
BWeights and Measures Act
CNigerian Enterprises Promotion Act
DStandards Organization of Nigeria Act
ETrade Marks Act
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Question 1008
waec1991
The state of scientific knowledge and production process obtainable in a country is part of the?
Aeconomic environment of business
Bpolitical environment of business
Clegal environment of business
Dtechonolgical environment of business
Ecultrual environment of business
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Question 1009
waec1991
The value stated on the share certificate as opposed to the current value is called?
Apremium value
Bexchange value
Cnominal value
Ddiscount value
Emarket value
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Question 1010
waec1991
One of the reasons for national of industries is?
Afor efficient management
Bto comtrol corruoption and nepotism
Cincrease the number of shareholders
Dto control corruption performance of strategic industries
Eto drive away foreign investors
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Question 1011
waec1991
The practice of selling in foreign markets at less than cost price is known as?
Afair trading
Bover-invoicing
Csmugging
Dhedging
Edumping
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Question 1012
waec1991
A house insured against damaged by flood was burnt down and the owner had a claims. Which of the following prevented him from making any claim? The principle of
Aindemnity
Bsubrogation
Cinsurable interest
Dproximate cause
Eutmost good faith
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Question 1013
waec1991
The market for short term loans is known as the?
Acapital market
Bdiscount market
Cmoney market
Dstock market
Eopen market
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Question 1014
waec1991
Which shares are sold Ex-div it means that the?
Abuyer is entitled to any dividend which may be declared
Bshares are sold at per
Cshares are sold at a premium
Dsellers has the right to the next dividend
Eshares are sold at a loss
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Question 1015
waec1991
Which of the following refers to sale promotion?
ANon- personal presentation of a product
BOffering free samples of products
CProviding information about a company and its product
DDirect contact with the ultimate buyer
EGathering information about a product
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Question 1016
waec1991
The interplay of such variables as product, price, distribution and promotion is known as?
Athe distribution mix
Bmarket segmentation
Cthe market mix
Dthe marketing concept
Eproduce mix
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Question 1017
waec1991
QWhen a number of insurers are liable under one given policy, the principle of insurance that applies is/
Aindemnity
Bsubrogation
Cabandonment
Dcontribution
Eproximate cause
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Question 1018
waec1991
The method by which insurance companies spread their risk to other insurance companies is called?
Adouble insurance
Bunder-insurance
Cre - insurance
Dover- insurance
Eunderwriting
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Question 1019
waec1991
Patent Right gives the owner the exclusive right to?
Aproduce any type of goods
Bhis invention
Cform a new business
Dsell to other maunfacturer
Eproduce the same goods with other manufacturers
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Question 1020
waec1991
Activities aimed at creating an image foe an organization are known as?
