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.

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

50 questions
Question 1 of 20 50 total questions
Question 11
waec 2016

An agreement that is enforceable in law is?

Aa contract
Ban offer
Can acceptance
Da consideration
View Explanation & Discuss
Question 12
waec 2016

An insurance broker is involved in?

Aindustrial occupation
Bdistributive occupation
Ccommercial occupation
Dconstructive occupation
View Explanation & Discuss
Question 13
waec 2016

An organisation formed mainly by traders and manufacturers to cater for interest for interest of members is?

Atrade union
Bco-operative society
Ctrade association
Dchamber of commerce
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Question 14
waec 2016

A document that contains the relationship between the company and outsiders is?

Acertificate of incorporation
Bmemorandum of association
Carticle of association
Dcertificate of trading
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Question 15
waec 2016

A partnership is dissolved due to?

Aliquidity of the firm
Bdeath of the employee
Cinsanity of partner
Dresignation of an employee
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Question 16
waec 2016

the water corporation is an example of a?

Acooperative
Bpublic enterprise
Cprivate enterprise
Dlimited company
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Question 17
waec 2016

The business unit that  applies the principle of one man one vote is?

Asole proprietorship
Bpartnership
Cco-operative society
Dpublic company
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Question 18
waec 2016

one disadvantage of advertising is that it

Acould be misleading
Breduce sales
Creduce profit
Dcauses over stocking
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Question 19
waec 2016

the worth of a life assurance policy before its maturity date is?

Aresidual value
Bsurrender value
Caccrued value
Dassured value
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Question 20
waec 2016

Risk bearing in a business organisation is a function of the?

Aemployees
Bentrepreneur
Ccustomer
Dmanager
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Question 21
waec 2016

The process of buying, selling and distribution of goods and services is

Aretail trade
Bcommerce
Cmarketing
Dmarketing concept
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Question 22
waec 2016

when a cheque is paid on a bank on which it is drawn, the cheque is

Adiscounted
Bdebited
Ccredited
Dcleared
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Question 23
waec 2016

fidelity guarantee insurance is a cover against loss arising from

Atrade debt
Bpersonal accident
Cdishonest staff
Dfire disaster
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Question 24
waec 2016

when an importer has been overcharged for goods supplied, the exporter issues him with a?

Adebit note
Bpreforma invoice
Cletter of credit
Dcredit note
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Question 25
waec 2016

A clean bill of lading is so called because?

Ait shows record of damaged goods
Bit is not a stained bill
Cit is a document of authority
Dit shows no record of damaged goods
View Explanation & Discuss
Question 26
waec 2016

the value of fixed assets

AN72,000
BN47,000
CN35,000
DN25,000
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Question 27
waec 2016

what is the value of working capital

AN47,000
BN35,000
C25,000
D10,000
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Question 28
waec 2016

The value of current assets is?

AN35,000
BN32,000
CN25,000
DN10,000
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Question 29
waec 2016

which of the following allows a drawer of a document to correct any error

AC.I.F
BI.O.U
CC.W.O
DE.O.E
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Question 30
waec 2016

which of the following occupations are classified under the extractive industry

(i) cattle rearing, lumbering and farming

(ii) mining, quarrying and hunting

(iii) ship building, road construction and iron bending

(iv) singing, dancing and tailoring

Ai and iii only
Bi, ii and iv
Ci and ii
Dii, iii and iv
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