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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.

1,707 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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1,707 questions

Question 1 of 20 1,707 total questions

Question 111

jamb 2023

The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is

Auberrimae fidei

Bsubrogation

Ccontribution

Dproximate cause

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Question 112

jamb 2023

A factor necessary for siting of a warehouse is nearness to

Alabour

Bconsumers

Ccapital

Draw materials

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Question 113

jamb 2023

I. Its unlimited nature
II. The number of partners
III. The withdrawal of a major of partner
IV. The bearing of risk

Which of these is both merit and demerit in partnership?

AIII and IV

BI only

CII only

DI and II

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Question 114

jamb 2023

An individual that links the producer with the retailer is

Aan agent

Ba wholesaler

Ca principal

Dan entreprenuer

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Question 115

jamb 2023

The activity which entails buying of goods in bulk and selling in small quantities to retailers is

Awholesaling

Bretailing

Cmerchandising

Dassembling

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Question 116

jamb 2023

Which of the following legislation aims primarily at the protection of consumers?

ACompany's Act

BPartnership Act

CTrade Description Act

DLaw of contract

View Explanation & Discuss

Question 117

jamb 2023

Parts payments made on alloted shares by subscribers is usually the

Aauthorized capital

Bsubscribed capital

Ccalled -up capital

Dissued capital

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Question 118

jamb 2023

The type of letters that are delivered through the normal mail or by airmail express service is referred to as

Aexpress letters

Bregistered letters

Cinland letters

Dairmail letters

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Question 119

jamb 2023

A major objective of all business resources is

Ahuman relation

Bprofit making

Cpublic relation

Dprofit sharing

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Question 120

jamb 2023

The document that explains the types of shares available for sale to the public is

Aa prospectus

Ban invoice

Cclosed indent

Dan open indent

View Explanation & Discuss

Question 121

jamb 2023

Which of the following is not a veritable source of funds to a public limited liability company?

Aadvances and loans from bank

Binternally generated funds

Cgovernment financial grants

Dfunds from the sale of shares

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Question 122

jamb 2023

An agent who has to sell perishable goods without the prior authority of the owner becomes an agent by

Aestoppel

Bconduct

Cnecessity

Dratification

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Question 123

jamb 2023

Which of the following regulates and controls the activities in the Nigerian Stock Exchange?

ACBN

BBPE

CSEC

DNDIC

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Question 124

jamb 2023

A demerit of communication is that it

Aincrease the cost of goods in transit

Bgive room for distortion of fact

Chinder quick reception of messages over a long distance

Dmakes payment for goods cumbersome

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Question 125

jamb 2023

The process of dividing tasks into jobs and departments and delegating authority is known as

Aorganizing

Bstaffing

Cdirecting

Dleading

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Question 126

jamb 2023

The maximum number of shareholders in a public liability company is

Atwenty

Bone hundred

Cfifty

Dunlimited

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Question 127

jamb 2023

A document that lists the goods that are being sent from one place to another is

Amail transfer

Bshipping note

Cconsular invoice

Dbill of lading

View Explanation & Discuss

Question 128

jamb 2023

The payment made by a speculator to the buyer when he is unable to deliver stocks on the agreed date is

Acontango

Barbitrage

Cbackwardation

Dfranco

View Explanation & Discuss

Question 129

jamb 2023

The macro-environmental forces and trends which are a constraint on business operations are referred to as

Ainternal factors

Btechnological factors

Ceconomic factors

Dexternal factors

View Explanation & Discuss

Question 130

jamb 2023

A document that lists the goods sent to a buyer is an

Ainvoice

Breceipt

Corder form

Dcheque

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