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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.

46 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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Past Questions

46 questions

Question 1 of 20 46 total questions

Question 11

neco 2001

What is NOT a concern of the Food and Drug Department of the Federal Ministry of Health?

Aco-operating with the appropriate agencies to bring about effective price control

Beducating the consumers on drug abuse

Cencouraging consumers to eat a more sensible and balanced diet and avoid fatty foods

Drequiring drug manufacturers to provide printed prescription for certain drugs

Erequiring drug manufacturers to test the safety and effectiveness of drugs before marketing

View Explanation & Discuss

Question 12

neco 2001

What is NOT an advantage of combinations (monopolies)?

Abender opportunity to expand operations

Bfall in the cost of selling

Cpool of specialized managerial skills

Dcentralized management

Edanger of over-capitalization

View Explanation & Discuss

Question 13

neco 2001

Which union is formed by the workers of firms of similar line of business to cater for their interests?

Aco-operative

Bemployees

Cfirms

Dtrade

Ewelfare

View Explanation & Discuss

Question 14

neco 2001

What is NOT an advantage of indigenization?

Alt enhances the development of private initiative

Blt ensures that important social services are provided at affordable cost

Clt ensures that Nigerians control and run the business enter-prize of their country

DIt fosters and accelerates the pace of industrial development

EThere is a saving in foreign exchange

View Explanation & Discuss

Question 15

neco 2001

Which of NOT a class of preference shares?

Acumulative

Bdebenture

C. non-cumulative

Dparticipating

Eredeemable

View Explanation & Discuss

Question 16

neco 2001

.
C.
ln which business is profit shared amongst the shareholders on the basis of patronage?

Aco-operative society

Bjoint stock company

Cpartnership

Dpublic company

Esole proprietorship

View Explanation & Discuss

Question 17

neco 2001

The affairs of the co-operative society are in the hands of the

ABoard of directors

BBoard of trustees

CExecutive members

DRegistrar of Co-operatives

EShareholders

View Explanation & Discuss

Question 18

neco 2001

What is NOT a right of the consumer?

Aa healthy environment

Bbe heard

Cto be informed

Dget value for money spent

Esave money on food and drugs

View Explanation & Discuss

Question 19

neco 2001

Production means

Achanging the form of a good at any stage from the raw material to the finished products

Bincreasing economic welfare of people by producing more goods and services

Cmoving goods from one place to another for proper use

Dthe amount of satisfaction derived from the consumption of goods and services

Ethe provision of goods and services which are capable of satisfying human wants

View Explanation & Discuss

Question 20

neco 2001

National income is

Aexcess on balance of payment

Bexcess on balance of trade

Cincome gotten from international trade

Dmoney value of goods and services produced in a given period

Erevenue available to the government

View Explanation & Discuss

Question 21

neco 2001

Which is NOT a public corporation?

ANational Electric Power Authority

BNational Examinations Council

CNigerian Airways

DNigerian Railway

EPorts Authority

View Explanation & Discuss

Question 22

neco 2001

What is the disadvantage of foreign trade?

Aencourages dumping

Bencourages specialization

Cfacilitate transfer of technology

Dmakes available products that can not be produced by a country

Ewidens the world market

View Explanation & Discuss

Question 23

neco 2001

Under what form of life insurance policy is premium paid over an agreed number of years and the sum assured is paid either at the end of that specified time or when the policy holder dies, whichever comes first?

Aannuity

Bdeterred annuity

Cendowment

Dterm

Ewhole life

View Explanation & Discuss

Question 24

neco 2001

What is NOT a suitable reason for the growth in large retail business?

Adistribution of wealth through expansion of retail outlets because there is great profit

Bimproved transportation system which makes people able to move about easily to buy goods

Clow cost per unit of goods resulting from economics of large scale

Dpeople’s willingness to migrate from rural areas to towns for white collar jobs

Erise in standards of living of people resulting from improved wages/salaries

View Explanation & Discuss

Question 25

neco 2001

A voluntary body formed by members of a particular branch of trade or industry to represent the interests of members is known as

Aco-operative society

Bindustrial association

Cmanufacturers’ association

Dtrade and industry practitioners

Etrade association

View Explanation & Discuss

Question 26

neco 2001

What is NOT a function of the chambers of commerce? They

Aarbitrate and settle disputes among members

Bcollect and pass important information to all members and the general public

Cconsult and co-operate with government on matters of trade and industry

Dmake members aware of government policies concerning customs and regulations

Eserve as media for the expression of the opinions of employers on matters relating to employment

View Explanation & Discuss

Question 27

neco 2001

In which service will a sole trader NOT be found?

Abusiness consultant

Belectrician

Cdecorator

DNational Electric Power Authority

Esurveyor

View Explanation & Discuss

Question 28

neco 2001

What is NOT a source of capital for a business?

Aborrowing from somewhere

Bissuing of dividend warrant

Cretained profit

Dissuing of shares

Epersonal savings

View Explanation & Discuss

Question 29

neco 2001

What is NOT a function of a retailer?

Agranting credit to consumers

Bguiding the consumers in making their choices

Cinsuring goods for consumers

Dpaying personal attention to consumers

Eproviding goods wanted by the consumers

View Explanation & Discuss

Question 30

neco 2001

A document which makes it obligatory on the part of the seller to supply the goods or services if the inquirer accepts the conditions stated therein is called Alan

Ainquiry

Border

Cinvoice

Dquotation

Ereceipt

View Explanation & Discuss

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