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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.

49 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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Past Questions

49 questions

Question 1 of 20 49 total questions

Question 11

jamb 1994

Which of the following is a form of sales promotion

Aadvertising on radio

Boffering free sample

Cdistributing printed materials

Dadvertising on television

View Explanation & Discuss

Question 12

jamb 1994

Which of the following items has the shortest effect on the consumer

Afashion

Binnovation

Cfad

Dattribute

View Explanation & Discuss

Question 13

jamb 1994

The element of the marketing mix are

Aproduct promotion, place and price

B[personal selling, advertising and research

Cpromotion, production, place and price

Dprocurement, price, product and place

View Explanation & Discuss

Question 14

jamb 1994

The second tier security market is

Aan appendage to the Nigeria stock exchange

Ba member of the Nigeria stock exchange

Cmeant for the shares of quoted private companies

Da regulating arm of the Nigerian stock exchange

View Explanation & Discuss

Question 15

jamb 1994

The business in the stock exchange is characterized essentially by

Adealing

Bbrokerage

Cspeculations

Dtransactions

View Explanation & Discuss

Question 16

jamb 1994

Which of the following is both direct and indirect credit enterprise?

AA co-operative and thrift society

Bretail co-operative society

Cconsumer co-operative society

Dwholesaler co-operative society

View Explanation & Discuss

Question 17

jamb 1994

The financial institution established to boost Nigeria's trade with the rest of the world is called

ANigerian Deposit Insurance Corporation

BNigerian Economic Reconstruction Fund

CNigerian Industrial Development Bank

DNigerian Export-Import Bank

View Explanation & Discuss

Question 18

jamb 1994

Drawing two parallel lines across a cheque means that it has to be paid into the account of the

Apayee

Bdrawer

Cdrawee

Dpayer

View Explanation & Discuss

Question 19

jamb 1994

One of the effects of the devaluation of the Naira is that the

Agoods that can be imported with the naira have become cheaper

Bvalue of other currencies relative to the naira have become cheaper

Cgoods that can be exported from Nigeria have become costlier

Dimports that can be bought with the naira have become costlier

View Explanation & Discuss

Question 20

jamb 1994

A sole proprietor insured his goods worth N200,000 for half the value. There was a fire accident in which goods valued N80,000 were destroyed. The value of compensation expected from the insurer is

AN40,000

BN80,000

CN100,000

DN200,000

View Explanation & Discuss

Question 21

jamb 1994

Goods discharged from ships on which import duties have not been paid are kept in the

Aordinary warehouse

Bpublic warehouse

Cprivate warehouse

Dbonded warehouse

View Explanation & Discuss

Question 22

jamb 1994

The postal organization which preceded the Nigerian Postal Service is

APost and Telecommunication

BPost and Telephone

CPost and Teleprinter

DPost and Telegraph

View Explanation & Discuss

Question 23

jamb 1994

Which of the following statements is TRUE about sea transport?

Aall ships have specific routes to ply

Ball ships must be insured at every journey

Call ships are insured separately from the crew

Dall ships normally arrive at their destination with goods

View Explanation & Discuss

Question 24

jamb 1994

A pro forma invoice is NOT required when

Aquoting for the supply of goods

Bgoods are sent on approval

Cdealing regularly with a customer

Dfinal prices are uncertain

View Explanation & Discuss

Question 25

jamb 1994

The difference between the total payments for imports and the receipts from exports within a given period is referred to as

Abalance of payments

Bbalance of trade

Ccomparative cost advantage

Dcomparative advantage

View Explanation & Discuss

Question 26

jamb 1994

The rate at which a country's exports exchange for its imports is called

Abalance of payments

Bbalance of trade

Cterms of payment

Dterms of trade

View Explanation & Discuss

Question 27

jamb 1994

What is the major function of the wholesaler?

Abuying from small-scale producers and selling to exporters

Bbuying in bulk and selling in small quantities

Cgranting of credit facilities to retailers

Dproviding information to manufacturers on market situation

View Explanation & Discuss

Question 28

jamb 1994

The use of coin-operated machines to sell goods is a form of

Apersonal selling

Bretailing

Cwholesaling

Dmail-order selling

View Explanation & Discuss

Question 29

jamb 1994

Sole enterprise may flourish best in

Aa mining business

Ba retailing business

Can oil exploration business

Da car assembly business

View Explanation & Discuss

Question 30

jamb 1994

Governments impose import duties for the following reasons EXCEPT

Ato raise revenue for other services

Bto act as a retaliatory measure against other governments

Cto discourage the redistribution of income at home

Dto protect home industries from external competition

View Explanation & Discuss

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