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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

Question 1 of 20 4,313 total questions

Question 1771

jamb 1997

In foreign trade, document of title is known as

Abill of lading

Bbill at sight

Ccertifiate of origin

Ddeclaration form

View Explanation & Discuss

Question 1772

jamb 1997

The main aim of selling directly to consumers by manufactures is to

Adis courage the activities of middlemen

Bmake contacts with comsumers

Celiminate transportation cost

Dmaximize the profit margin

View Explanation & Discuss

Question 1773

jamb 1997

The cost of transporting goods to consumers called

Acarried inward

Bcarried forward

Ccarried paid

Dcarried outward

View Explanation & Discuss

Question 1774

jamb 1997

The turnover of firm maybe affected by

Athe demand for its product

Bthe cost of its goods sold

Cits closing stock

Dits net assets

View Explanation & Discuss

Question 1775

jamb 1997

A public limited liability company having a nominal capital made up of 200 000 ordinary shares of 50k each decided to issued 50% of it to the public.

What is the authorized capital?

AN40 000

BN50 000

C100 000

D200 000

View Explanation & Discuss

Question 1776

jamb 1997

The total amount that a company is allowed to raised according to its memorandum of association is known as

Aissued capital

Bauthorized capital

Ccalled-up capital

Dpaid-up capital

View Explanation & Discuss

Question 1777

jamb 1997

The form of business financing which involves pledging of a specific asset is

Adebenture

Bmortgage

Cloan

Dbond

View Explanation & Discuss

Question 1778

jamb 1997

Leasing is the right to use asset for an agreed period in return for

Aprofit

Binterest

Cwages

Drents

View Explanation & Discuss

Question 1779

jamb 1997

A term which indicates that share is temporarily suspended is

Aex-dividend

Bcum-dividend

Cbond

Dstock

View Explanation & Discuss

Question 1780

jamb 1997

One type of investment that have a variable income is

Adebentures

Bpreferred shares

Cgovernment bonds

Dordinary shares

View Explanation & Discuss

Question 1781

jamb 1997

In which of the following circumstances is a court order NOT necessary for the winding up of a company?

Asupension of businesss for one year

Bspecial resolution of members

Creduction in the number of members below the legal minimum

Dinability to pay it debts

View Explanation & Discuss

Question 1782

jamb 1997

When it became necessary to liquidate a company, the frist step to be taken is the appointment of

Aa receiver

Ban auditor

Can accountant

Dliquidator

View Explanation & Discuss

Question 1783

jamb 1997

The major objective of corporate mergers is to

Aminimize the effects of taxation

Bincrease financial advantage

Cfaclitate profit maximization

Denhance economies of scale

View Explanation & Discuss

Question 1784

jamb 1997

The business organization in which shareholder's have equal vote is

Asole pprietorship

Bpartneeship

Cco-operative

Dlimited liability company

View Explanation & Discuss

Question 1785

jamb 1997

Use the conversation below to answer the question below;

MUSA: Taiwo why are you in business?

TAIWO: To optimize profit, provide quality products, and discharge my social responsibilities. What of you, Okon and Kalu

OKON: I am in business to cater to the needs of the consumers at all costs.

KALU: I am in business to make a profit, provided quality products at reasonable prices, and establish a good reputation for myself.

The businessman that may end up not discharging his social responsibility is--------------------

AMusa

BOkon

CTaiwo

DKalu

View Explanation & Discuss

Question 1786

jamb 1997

Partnership are most suitable where

Athe partners are family friends

Bprofessionals are involved

Cmembers can easily rasie enough capital

Dgovernment regulations are favourable

View Explanation & Discuss

Question 1787

jamb 1997

The object of the business are determined by the

Aworkers

Bgovernment

Csociety

Dpromoters

View Explanation & Discuss

Question 1788

jamb 1997

The main purpose of insurance is to

Aencourage business to surviveand grow

Bensures that facilities are available for operators

Caccepts risk s and extend credit to policy holders

Dspread individual losses ove all covered participants

View Explanation & Discuss

Question 1789

jamb 1997

The person who undertakes any risk in insurance business is known as

Aa broker

Ban underwriter

Can insurer

Dan actuary

View Explanation & Discuss

Question 1790

jamb 1997

The mode of transportation that is noted for on time dependability and low cost peer unit on gods carried is?

Apipe line

Bair

Crail

Droad

View Explanation & Discuss

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