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.
Which of the following is NOT a credit instrument?
ABank Notes
BBill of Exchange
CBill of Lading
DCheques
EPromissory Notes
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Question 12
neco2005
In the event of winding up of a company, who among the following is paid last?
ACumulative preference shareholders
BDebenture holders
COrdinary shareholders
DPreference Shareholders
ETrade creditors
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Question 13
neco2005
Which of the following advertising media preselects its readership through the nature of its content?
ABillboard
BHand bill
CMagazine
DNewspaper
EPoster
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Question 14
neco2005
Branding is the assigning of trade marks to goods for the purpose of ……….. by the public.
Ademand
Bidentification
Creplacement
Dstabilization
Estandardization
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Question 15
neco2005
The following are advantages of division of labour specialization EXCEPT that it
Aenhances interdependence
Bincreases output
Cincreases skill and dexterity
Dleads to monotony
Epromotes efficient of tools
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Question 16
neco2005
Gross profit can be calculated as
ACost of good sold minus cost of goods available for sale
Bcost of goods available for sales minus sale
CSales minus purchases
DSales minus cost of good sold
ESales minus closing stock
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Question 17
neco2005
Departmental store, supermarket and chain store are examples of
Alarge scale retailers
Blarge scale whole-salers
Cmedium scale producers
Dsmall scale retailers
Esmall scale wholesalers
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Question 18
neco2005
The Nigeria Enterprises promotion Decree brought about policy
Acommercialization
Bindigenization
Cindustrialization
Dnationalization
Eprivatization
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Question 19
neco2005
A wholesaler who acts as an agent on behalf of the owner of the goods in buying or selling fora commission proportionate to the value of the transaction is called a
Abroker
Bcommissioned agent
Cdel-credere agent
Dfactor
Especulator
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Question 20
neco2005
The document which gives complete information about the goods sold is the
Abill of exchange
Bdelivery note
Cinvoice
Dorder form
Equotation
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Question 21
neco2005
Which type of advertisement induces consumer to purchase the goods he does not need?
ACompetitive
BDescriptive
CInformative
DPersuasive
ESpecific
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Question 22
neco2005
Which of the following groupings is a means of payments through the post office
ABank draft, Certified cheque, Money order and Stamps
BCheque, Postal order, Money order and Bank draft
CMoney order, Certified cheques, Telegraphic Money order and Stamps
DPostal order, Money order, Telegraphic Money order and Stamps
ETelegraphic Money order, Cheques, Bank draft and Certified cheques
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Question 23
neco2005
A type of partnership in which all partners have unlimited liability and jointly manage the business is known as ……. partnership.
ALimited
Bnominal
Cordinary
Dspecial
Eunlimited
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Question 24
neco2005
The term “caveat emptor” implies that
Acredit is not allowed
Bgoods are still with the seller
Cgoods have been transferred to the buyer
Dlet the buyer beware
Elet the seller beware
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Question 25
neco2005
The rules and regulations guiding the conduct of business transactions are known as ……. law
Acivil
Bcommercial
Ccommon
Dcontract
Ecriminal
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Question 26
neco2005
An agent held responsible for non-payment of goods bought by the customer he introduced to his principal is called …… agent
Adel-credere
Bgeneral
Csales
Dspecial
Euniversal
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Question 27
neco2005
The act of being on one job for expertise is called
Adivision of labour
Bimmobility
Cindependence
Dseparation of power
Especialization
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Question 28
neco2005
The functions of public corporations include the following EXCEPT
Amaximizing profits for the board members
Bproviding employment opportunities
Cproviding essential services to the public
Dproviding even development
Eproviding the public with social amenities at reduced cost.
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Question 29
neco2005
The term “consumer sovereignty” means that the consumer is a
Adirector
Bking
Cmanager
Dpromoter
Etarget
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Question 30
neco2005
Which of the following services is NOT rendered by NITEL?
