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.
A machine which enable s sales without the physical presence of a sales attendant is a
Acomputer machine
Bvending machine
Ctelex machine
Dfax machine
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Question 1702
jamb1998
If a firm's turnover is N15,000 and the cost of goods sold is N 10,000 What is the percentage of gross profit on sales?
A23.3%
B33.3%
C50.0%
D66.6%
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Question 1703
jamb1998
The form of capital which is easily transferred into the form desired is known as?
Aworking capital
Bliquid capital
Ccirculating capital
Dcapital employed
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Question 1704
jamb1998
Use the information above to answer this question
What is the ratio?
A2.95:1
B4.25:1
C4.75:1
D5,55:1
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Question 1705
jamb1998
Use the information Above to answer this question
What is the current ratio?
A4:1
B4.5:1
C5:1
D25.5:1
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Question 1706
jamb1998
A provision in the charter of a company which gives holders of common stock the first option to purchase additional issues of the firm's common stock is known the?
Apre-emptive right
Bshareholders right
Cex-dividend right
Dover-subscription right
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Question 1707
jamb1998
Which of the following statement is true of preferred stockholders?
AThey have no voting rights at annual general meetings
BThey first claim company asset before creditors
CThe have first claim to company asset after all debts have been settled
DThey share dividends equally with common shareholders
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Question 1708
jamb1998
Which of the following is an example of a conglomerate?
ANational Electric Power Authority
BUnited Africa Company Nigeria Plc
CThe Nigeria Railway Corporation
DFirst Bank of Nigeria Plc
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Question 1709
jamb1998
A source of capital to private limited companies is shares issued to
Athe public
Bselected persons
Cmembers of the borad of directors
Ddedicated members of staff
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Question 1710
jamb1998
Which of the statements below is true of Mr Abayomi?
AHe can assign his shares to another without consent of other partners
BHe cannot take part in the management of the business
CHis actions as a limited partner can bind the firm
DHis death will automatically dissolve partnership
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Question 1711
jamb1998
Use the above information below to answer question 7 and 8.
Mr obi is a manager of obi Agricultural Venture.
he makes all the decisions and takes all profits
from the business. H e had agreed with Alhaji Musa
It can be deduce from the above that obi AgricultrualVenture is a
(a farmer) to pool their resources together and
expand their business.They invited Mr Abayomi
(a cotton grower) to join them. Mr Abayami agreed on the condition that his liability in the new firm will be limited to his investment in it. The thus registered Obi, Musa and Abayaomi''s Agricultural ventures.
AA sole proprietorship
Bgeneral partnership
Climited partnership
Dlimited partnership
Ejoint partnership
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Question 1712
jamb1998
One advantage the co-operative society has over the company is that the
Athe latter pays tax while the former does not
Bformer attract more capitals than the later
Cmembers of the former is usually morethan the latter
Dformer, unlike the latter, has limited liabities
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Question 1713
jamb1998
Service which are of absolute monopoly can can best be proved by
Aprivate companies
Blimited liability companies
Cpublic companies
Dpublic enterprises
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Question 1714
jamb1998
The primary objective of a business organization is to
Acater for the neds of its owners
Bwork towards making returns
Cassist the government to serve the citizens
Dimprove the standard of living of its proprietors
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Question 1715
jamb1998
Extractive industries may also be denominated as
Adirect industries
Bservicing industries
Cprimary industries
Dindirect industries
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Question 1716
jamb1998
One of the factors which critically determines the choice of occupation is
Atraning
Bskills
Captitude
Dinterest
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Question 1717
jamb1998
Which of the following contributed least to the evolution of commercial activities in Nigeria?
ADevelopment of banks
BDevelopment oftransportation
CDevelopment of trader's unions
DDevelopment of currencies
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Question 1718
waec1997
When a bill of exchange is signed by a debtor, it is said to be
Aaccepted
Bnegotiated
Chonoured
Dprotested
Eaccomodated
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Question 1719
waec1997
The payment made to the insured for loss incurred is
Apremium
Bindemnity
Cex gratia payment
Dsurrender value
Einterest
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Question 1720
waec1997
When an industry is nationalized, ownership belongs to the
