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.
An author’s exclusive righto his published and unpublished works is known as?
Aauthors right
Bconstitution right
Cpatent right
Dcopyright
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Question 1432
jamb2002
The commercialization of public enterprises is aimed at?
Aincreasing efficiency and making the enterprises self-sufficient
Badvertising and promoting the goods and services of the enterprises
Cincreased assistance and patronage of the enterprises by the public
Dselling the goods and services of the enterprises
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Question 1433
jamb2002
Awarding scholarships and sponsoring sports by a business organization are example of?
Aadvertising strategy
Beconomic responsibility
Cmarketing strategy
Dsocial responsibility
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Question 1434
jamb2002
The agency in Nigeria which ensures that products conform to government quality specifications is the?
AStandards Organization of Nigeria
BNigerian Consumers’ Association
CManufacturers’ Association of Nigeria
DNigerian Chamber of commerce
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Question 1435
jamb2002
A core investor in the current phase of privatization in Nigeria is one who?
Acan afford to buy most of the shares of the enterprises
Bwill be at the core of the enterprises
Ccan mobilize foreign currency equivalent to the value of the enterprises
Dhas the technical know-how of the enterprises
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Question 1436
jamb2002
Which of the following countries are members of the lake Chad Basin Commission?
ANiger and Cameroun
BBenin and Nigeria
CChad and Benin
DNigeria and Mali
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Question 1437
jamb2002
Okeze contracted to sell TV sets to Ojo. Unknown to them, the sets were stolen in transit. This contract may be terminated on the ground of
Abankruptcy
Bfrustration
Cfraudulence
Dbreach of contract
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Question 1438
jamb2002
The agency that currently oversees the privatization and
commercialization process in Nigeria is the?
ASecurities and Exchange Commission
BTechnical Committee on privatization and commercialization
CNigeria Stock Exchange
DBureau of Republic Enterprises
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Question 1439
jamb2002
Capital as a factor of production can be used as?
AMoney that is regarded as assets
BGoods that are useful in business
CInput for further production
DServices that provide satisfaction
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Question 1440
jamb2002
Which of the following best described the scope of commerce
AAll forms of commercial exchanges relating to industry
BBuying and selling and the construction industry
CAll occupational exchanges relating to industries and commercial activities
DBuying and selling as well as the extraction of natural resources
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Question 1441
jamb2002
The major responsibility of an entrepreneur is?
AEmploying all factors of production in the business
Bcoordinating and determining the proportion of what to produce
Cplanning and organizing all activities in the business
Ddirecting and controlling all the affairs of the business
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Question 1442
jamb2002
Secondary production has to do with changing the?
Ashape of raw materials through construction operations
Bphysical form of raw materials into finished goods
Cutility of raw materials by an engineering process
Dnature of raw materials through manufacturing processes
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Question 1443
jamb2002
The most important factor that delayed the development of commerce in Nigeria was?
AA.the inefficient means of communication
Bthat there were few entrepreneurs
Cthat there were few developed markets
Dsecondary production has to do with changing the?
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Question 1444
neco2001
A syndicate is an/a
Aassociation formed by the joining together of firms which were previously independent
Bassociation of firms at the same stage of production, formed for the purpose of keeping up prices
Cassociation of firms for the regulation of output and prices
Dcombination of firm which carry on the same kind of business such as retailing
Ecompany that controls one or more other companies by holding majority of their shares
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Question 1445
neco2001
What is a statement of account? It is a/an
Anote to inform the customer of an addition to his business transaction
Boriginal letter sent to customer asking them to settle their bills
Cstatement of acceptance of credit facilities to a customer
Dsummary of customer’s transactions for a given period
Esummation of goods sold to a customer for a particular item
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Question 1446
neco2001
What best explains the principle of subrogation in insurable?
ABoth parties of the insurance contract must deal openly and honestly with each other and disclose all relevant facts
BThe right that a person has to stand in the place of another and enjoy all the rights and remedies of that other person
CThere must be a close connection between the risk insured against and the cause of the loss
DThe insurer who insures the same risk with more than one insurer can only recover to the extent of the loss and nothing more, in the occurrence of the event
EThe insured discloses all the material facts which would affect the premium which the insurer charges
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Question 1447
neco2001
.......... is NOT a principle of insurance
Autmost good faith
Bparticular average
Cindemnity
Dsubrogation
Einsurable interest
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Question 1448
neco2001
The reward of capital as a factor of production is
Adividend
Binterest
Cprofit
Drent
Ewages
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Question 1449
neco2001
ln partnership business, the maximum number of persons for its formation is
