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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
All JAMB WAEC NECO CUSTOM
All years 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989
Question 1 of 20 4,313 total questions
Question 1501
jamb 2001
A pro-forma invoice is sent to inform a buyer about the
Aquantity of goods
Bprices of goods
Cdesignation of goods
Dquality of goods
View Explanation & Discuss
Question 1502
jamb 2001

The merchant wholesaler is referred to as

Adel-credere agent
Ba broker
Crack jobber
Da factor
View Explanation & Discuss
Question 1503
jamb 2001
One of the reasons why wholesaling must continue is that?
Athe tax paid by wholesalers on their profit enhances national revenue
Bby creating artificial scarcity, the wholesaler is enhencing competition
Cthe wholesaler provides technical advice to the retailer
Dthe gap between manufacturers and retailers is reduce byn wholesalers
View Explanation & Discuss
Question 1504
jamb 2001
The capital owned is
AN2,740
BN 1,350
CN1,150
DN570
View Explanation & Discuss
Question 1505
jamb 2001
The difference between total current assets and total current liabilities of a business is known as
Aquick ratio
Bliquidity ratio
Cworking capital
Dcirculating capital
View Explanation & Discuss
Question 1506
jamb 2001

(i) Personal Savings
(ii)Retained Earnings
(iii)Accrued taxes
Which of the items above constitute internal sources of financing for companies?

Ai and ii
Bi and iii
Cii and iii
Di, ii and iii
View Explanation & Discuss
Question 1507
jamb 2001
The financial instrument for borrowing in which the collateral is usually more than the amount borrowed is?
Atrust certificate
Bdetachable warrant
Cmortage bond
Dconverttible securities
View Explanation & Discuss
Question 1508
jamb 2001
The capital employed is
AN 1,000
BN 1,370
CN 140
DN50
View Explanation & Discuss
Question 1509
jamb 2001
Entrusting the management of a company to the courts to enable the settlement of the company’s obligations is an indication of?
Adistress
Bclosure
Cbankruptcy
Dliquidation
View Explanation & Discuss
Question 1510
jamb 2001
At the collapse of a business enterprise, the person appointed to dispose of all assets is called
Aa broker
Ban auctioneer
Ca liquidator
Dan auditor
View Explanation & Discuss
Question 1511
jamb 2001
A form of ownership which exploits the strength of one partner to remedy the weakness of the other is a?
Ajoint partnership
Bcooperative
Ccorperation
Djoint venture
View Explanation & Discuss
Question 1512
jamb 2001
One major advantage of a credit and thrift cooperative is that
AIt can approach government for loan
BIt encourages saving habit
Cthere are no legal restrictions
Deach member has a vote during meetings
View Explanation & Discuss
Question 1513
jamb 2001
The partner that only contributes part of the capital used in the formation and running of a business is known as?
Aa passive partner
Ban active partner
Ca dormant partner
Da nominal partner
View Explanation & Discuss
Question 1514
jamb 2001
Which of the following services does a lawyer render?
Aindustrial services
Bindirect services
Cdirect services
Dcommercial services
View Explanation & Discuss
Question 1515
jamb 2001
Land as a factor of production does not vary in?
Aquantity
Bnature
Cquality
Dcost
View Explanation & Discuss
Question 1516
jamb 2001
A distinguishing characteristic of labour is that it is
Aconstant
Bexpensive
Cmobile
Dcost
View Explanation & Discuss
Question 1517
jamb 2001
The pivot on the wheel of commerce rotates is
Atariff
Btrade
Ctaxation
Dprice
View Explanation & Discuss
Question 1518
neco 2000
Ships that pick up cargo from any port and travels anytime are called
Acargo ships
Bferries
Csteamers
Dtankers
Etramps
View Explanation & Discuss
Question 1519
neco 2000
What is the cost of goods sold?
AN 2220
BN 2500
CN 2800
DN 4000
EN 4300
View Explanation & Discuss
Question 1520
neco 2000
The advertising medium which uses electric current in bulbs is referred to as
Abill boards
Bneon signs
Cposters
Dtelevision
Evideo
View Explanation & Discuss
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