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.

40 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2
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Past Questions

40 questions
Question 1 of 20 40 total questions
Question 11
jamb 2021

The transmission of the telephone services from one country to another is facilitated by

Ainternational facility
Binternet services
Cinterconnectivity
Dcommunication satellite
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Question 12
jamb 2021

The primary memory component of a computer is the 

Aconsole
Bcache
Ccompliers
Dassemblers
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Question 13
jamb 2021

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

Abear
Bbull
Cdealer
Dstag
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Question 14
jamb 2021

An activity that involves derivation of raw materials from land and sea is

Aagriculture
Bfarming
Cextraction
Dconstruction
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Question 15
jamb 2021

The major determinant of fire insurance premium is the 

Ausefulness of the property to the owner
Btype and structure of the property to be insured
Cowner of the property to be insured
Dextent of fire damage anticipated
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Question 16
jamb 2021

A distinctive advantage of GSM is its

Acost
Bstability
Ccoverage
Dmobility
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Question 17
jamb 2021

Use the information below to answer this question

A B C Balance Sheet as at 31/12/2004

                                       ₦
Share capital              200,000
Reserves                    100,000
Long term liabilities     40,000
Current liabilities         30,000
                                   370,000

                                           ₦
Fixed assets                  180,000
Investment                     100,000
Current assets                50,000
Fictitious assets              40,000
                                       370,000

What is the capital employed?

A₦ 340,000
B₦ 200,000
C₦ 300,000
D₦ 170,000
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Question 18
jamb 2021

Use the information below to answer this question

A B C Balance Sheet as at 31/12/2004

                                       ₦
Share capital              200,000
Reserves                    100,000
Long term liabilities     40,000
Current liabilities         30,000
                                   370,000

                                           ₦
Fixed assets                  180,000
Investment                     100,000
Current assets                50,000
Fictitious assets              40,000
                                       370,000

The total sum of financing short term projects is

A₦ 30,000
B₦200,000
C₦70,000
D₦40,000
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Question 19
jamb 2021

The excess of the assets over the liabilities of a business is called 

Acapital employed
Bnet worth
Cworking capital
Dinitial capital
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Question 20
jamb 2021

The type of communication from a superior to a subordinate in an organization is referred to as 

Adownward communication
Bupward communication
Clateral communication
Dhorizontal communication
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Question 21
jamb 2021

The instruments of credit include

Abillboards and postal stamps
Bpayment vouchers and statement of account
Cbills of exchange and salary voucher
Dbills of exchange and promissory notes
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Question 22
jamb 2021

Communication process involves the transmission of a message over a selected channel to the 

Aencoder
Breceiver
Caudience
Dsender
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Question 23
jamb 2021

Given:
I. Retail
II. Export
III. Transport
IV. Import
V. Insurance
VI. Banking and finance
VII. Wholesale
VIII. Communication. 

Which of the above are aids to trade?

AIII, V, VI and VIII
BI, II, III and VI
CI, III, V, and VI
DII, V, VI and VII
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Question 24
jamb 2021

The activities aimed at finding customers needs and satisfaction can be described as

Aconceptual marketing
Bmacro-marketing
Csocio-marketing
Dmicro-marketing
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Question 25
jamb 2021

A form of money that has gone out of use is

Apaper money
Bcommodity money
Cforeign money
Dbank money
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Question 26
jamb 2021

The conversion of raw materials into finished products creates

Aform utility
Btime utility
Cmarginal utility
Dplace utility
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Question 27
jamb 2021

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 the

Apre-emptive right
Bover-subscription right
Cex-dividend right
Dshareholders right
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Question 28
jamb 2021

The major objective of corporate mergers is to?

Aminimize the effect of taxation
Bincrease financial advantage
Cenhance economies of sale
Dfacilitate profit maximization
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Question 29
jamb 2021

The main advantage of a sole trader is the freedom to?

Aemploy anyone he likes
Btake quick decision
Cseek advise from any source
Dplough all the profits
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Question 30
jamb 2021

The principle of span of control stipulates that?

AThe number of employees reporting to one superior should be kept to a workable maximum
BAn employee should report to only one superior
CManagers must demand accountability from their subordinates
DResources have to be economized within the various divisions
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