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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.

48 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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Past Questions

48 questions

Question 1 of 20 48 total questions

Question 11

jamb 2008

The resources which are necessary for business development include?

Amanufacturing , materials mentors and money

Bmerchant, materials, mentors and money

Cman, money, materials and machines

Dmachines, manufacturing , money and materials

View Explanation & Discuss

Question 12

jamb 2008

An association to which all chambers of commerce in Nigeria are affiliated is the?

ANigeria Labour Congress

BNational Association of Chambers of commerce, industry, Mines and Agriculture

CNigeria Association of Chambers of commerce, industry, Mines and Agriculture

DNigeria Stock Exchange

View Explanation & Discuss

Question 13

jamb 2008

The pooling of business information for the benefit of members is a major function of a?

Apressure group

Btrade association

Ccultural group

Dtrade union

View Explanation & Discuss

Question 14

jamb 2008

A crossed cheque with the inscription 'not negotiable' must be paid into the?

Acurrent account of the drawer

Bcurrent account of the payee

Csavings account of the payee

Dfixed account of the payee

View Explanation & Discuss

Question 15

jamb 2008

When 'FOB' is written on a document, it implies that the buyer bears the?

Acost of goods and advert

Bloading costs and insurance

Cinsurance and transport costs

Dtransport and communication costs

View Explanation & Discuss

Question 16

jamb 2008

A document sent by a seller to inform a buyer about the prices of goods is the?

Acatalogue

Bprice list

Ccredit note

Dproforma invoice

View Explanation & Discuss

Question 17

jamb 2008

Most of the barriers to international trade have been eliminated through?

Adiversification

Bglobalization

Ccommercialization

Dprivatization

View Explanation & Discuss

Question 18

jamb 2008

Balance of payments is made up of?

Avisible and current items

Binvisible and capital items

Ccurrent and capital items

Dvisible and invisible items

View Explanation & Discuss

Question 19

jamb 2008

A warehouse which is used to store goods whose customs duty is not yet paid is a?

Awholesale warehouse

Bbonded warehouse

Cpublic warehouse

Dbranded warehouse

View Explanation & Discuss

Question 20

jamb 2008

A type of retail trade where a group of similar stores which is owned by a firm operates in different locations is a?

Aconglomerate

Bchain stores

Cdepartmental store

Dsuppermarket

View Explanation & Discuss

Question 21

jamb 2008

A source of capital that has elements of debt and equity is a?

Adebenture

Bwarrant

Cloan

Dshare

View Explanation & Discuss

Question 22

jamb 2008

A person who buys new issues with a view of reselling at a higher price in the near future is referred to as a?

Abull

Bbear

Cdealer

Dstag

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Question 23

jamb 2008

A trader who gives credit stands to enjoy?

Ahigher profit

Bcash discount

Cincreased sales

Dtrade discount

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Question 24

jamb 2008

An account maintained with a commercial bank for the purpose of foreign exchange transaction is the?

Aforeign account

Binternational account

Cdomiciliary account

Dforeign reserves account

View Explanation & Discuss

Question 25

jamb 2008

In order to prevent Liquidity in commercial banks, the central banks uses?

Amoral suasion

Bfiscal policy

Creserve ratio

Dtaxation

View Explanation & Discuss

Question 26

jamb 2008

The components of capital employed in a business are?

Aowners' equity and long-term debts

Btotal assets and current liabilities

Cshare capital and long-term debts

Dshare capital and current liabilities

View Explanation & Discuss

Question 27

jamb 2008

The cheapest source of funds available to a company is through?

Athe sale of shares

Bretained profits

Cthe sale of bonds

Dlease financing

View Explanation & Discuss

Question 28

jamb 2008

An example of a cartel is?

AOPEC

BECOWAS

CAU

DEU

View Explanation & Discuss

Question 29

jamb 2008

A proposed company may not be registered if?

Athe name conficits with that of another

Bit does not put 'limited' after its proposed name

Cit has no paid-up capital

Dit has no asset of its own

View Explanation & Discuss

Question 30

jamb 2008

A document which gives a legal status to a company is the certificate of?

Aincorporation

Btrading

Ccommencement of business

Dbusiness registration

View Explanation & Discuss

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