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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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Past Questions

4,313 questions
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Question 1 of 20 4,313 total questions
Question 1161
waec 2005
The net profit of a business is determined by
Adeducting cost of goods sold from sales
Bdeducting purchases from sales
Cadding commissions recieved to gross profit
Ddeducting all expenses from gross profit and other income
View Explanation & Discuss
Question 1162
waec 2005
Which of the following is an intangible asset of a firm
AGoodwill
BReserve
CSkilled personnel
DRights issue
View Explanation & Discuss
Question 1163
waec 2005

The nominal value of a share is same as its

Amarket value
Bbelow par value
Cabove par value
Dface value
View Explanation & Discuss
Question 1164
waec 2005
The nominal capital of a public limited company is made up of 400,000 ordinary shares of 50k each.
The Board of Directors decided to issue 50% of it for subscription by the public.

The reserved capital is
A#300,000
B#200,000
C#100,000
D#50,000
View Explanation & Discuss
Question 1165
waec 2005
The nominal capital of a public limited company is made up of 400,000 ordinary shares of 50k each.
The Board of Directors decided to issue 50% of it for subscription by the public.

The authorized share capital is
A#400,000
B#200,000
C#100,000
D#50,000
View Explanation & Discuss
Question 1166
waec 2005
Partnership form of business is most appropriate
Awhere proffessionals are needed
Bfor non-profit making ventures
Cwhere very large capital is required
Dwhere the liability of members is limited
View Explanation & Discuss
Question 1167
waec 2005
Partnership form of business is most appropriate
Awhere proffessionals are needed
Bfor non-profit making ventures
Cwhere very large capital is required
Dwhere the liability of members is limited
View Explanation & Discuss
Question 1168
waec 2005
Which of the following would not affect the form of a business unit
AAvailability of raw materials
Bthe type of business
Cnumber of persons involved
Dthe capital size
View Explanation & Discuss
Question 1169
waec 2005
The fee which the bank charges for services rendered to their current account customers is
Acommission on turnover
Bbank rate
Cminimum lending rate
Dinterest
View Explanation & Discuss
Question 1170
waec 2005

The distribution of profits based upon the level of patronage in the business is a common feature of

Apartnership firms
Bpublic limited companies
Cco-operative societies
Dprivate limited companies
View Explanation & Discuss
Question 1171
waec 2005
An advantage of a public limited company over a private one is the
Alimited liability of share holders
Beasy transferability of shares
Caccess to retained earnings
Dless taxation by government
View Explanation & Discuss
Question 1172
waec 2005
Production is defined as
Aan industrial undertaking
Bcreation of utility
Cearning one's daily bread
Dthe changing of raw materials
View Explanation & Discuss
Question 1173
waec 2005
Which of the following coordinates other factors of production to achieve set objectives?
ALand
BLabour
CEnterpreneur
DCapital
View Explanation & Discuss
Question 1174
waec 2005
Farming is an activity that falls under?
Atertiary occupation
Bcommercial occupation
Cextractive occupation
Dsecondary occupation
View Explanation & Discuss
Question 1175
waec 2005
Which of the following is an advantage of indigenization ?
AChecks exploitation by citizens
BBusiness risks are shared
CFosters self-reliance
DLeads to monopoly of power
View Explanation & Discuss
Question 1176
waec 2005
The form of trade practiced by the early men was characterized by
Aexchange of goods for money
Befficient distribution system
Cexchange of goods for goods
Dorganized warehousing
View Explanation & Discuss
Question 1177
waec 2005
Which of the following is not suitable for fire purchase?
ATextiles
BFurniture
CRefrigerators
DPrinting machine
View Explanation & Discuss
Question 1178
waec 2005

Which of the following encourages trade between regions?

ADifferences in currencies of countries
BDifference in national income of countries
CExistence of trade associations
DDifferences in natural resources
View Explanation & Discuss
Question 1179
waec 2005
Terms of trade is the?
Arate at which the central bank discounts first class bills
Brate at which a country's exports exchange for its imports
Cexpected rate of returns on an investment
Drate of payment for goods and services purchased
View Explanation & Discuss
Question 1180
waec 2005
Which of the following is a feature peculiar to multiple shops?
ACentral location
BSelf service
CCentral buying
DOne stop shopping
View Explanation & Discuss
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