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.
Adeleke places his vehicle for sale at N150,000,00 Ibrahim had agreed to pay the amount. In this Trans: Adeleke is the
Aagent
Bauctioneer
Cbroker
Dofferee
Eofferor
View Explanation & Discuss
Question 12
neco2007
The most suitable mode of transporting very bulky goods from Lagos to Kaduna is the
Aaero plane
Bcaravan
Clorry
Dship
Etrain
View Explanation & Discuss
Question 13
neco2007
Use the following information to answer question
Kolawole’s Opening Stock was N10, 000. His purchases was N280,000 Goods returned outward was N3,000, and the Closing Stock was N8,000
The rate of stock turnover is?
A2.0 times
B30.0 times
C31.0 times
D31.3 times
E32.2 times
View Explanation & Discuss
Question 14
neco2007
The most suitable mode of transport for conveying gas and liquid within Nigeria is
Aair
Bpipeline
Crail
Droad
Ewater
View Explanation & Discuss
Question 15
neco2007
A Speculator in the stock exchange who buys shares hope that prices will rise is called
Abear
Bbroker
Cbull
DJobber
Eshareholder
View Explanation & Discuss
Question 16
neco2007
The authority that transfers to a third party the shard right to vote is called
Abond
Bindent
Cproxy
Dright issue
Ewarranty
View Explanation & Discuss
Question 17
neco2007
A marketing term the for the presentation of goods in a neatly wrapped container is
Aadvertising
Bcredit to customers
Clabelling
Dmerchandising
Epackaging
View Explanation & Discuss
Question 18
neco2007
“Be a millionaire” a slogan adopted by one of them G.S.M providers is an example of
Aadvertising
Bcredit to customers
Ccustomer service
Dsales promotion
Etrade discount
View Explanation & Discuss
Question 19
neco2007
An arrangement in insurance which provides for the payment of a stipulated sum either at death or the expiration of a stated period is known as ……….
Aaccident
Bendowment
Cfire
Dfidelity
Ewhole life
View Explanation & Discuss
Question 20
neco2007
From the date of issue, cheques are valid for-----------months.
A3
B4
C5
D6
E9
View Explanation & Discuss
Question 21
neco2007
Which of the following is NOT true of a cheque as a means of payment? It
Acan be made out of a definite payee
Bis generally acceptable
Cis safer than carrying cash
Dis transferable
Eserves as a proof of payment
View Explanation & Discuss
Question 22
neco2007
Which of the following is NOT true of a cheque as a means of payment? It
Acan be made out of a definite payee
Bis generally acceptable
Cis safer than carrying cash
Dis transferable
Eserves as a proof of payment
View Explanation & Discuss
Question 23
neco2007
The reply to a letter of inquiry is a/an
Aadvice note
Bestimate
Corder
Dquotation
Estatement
View Explanation & Discuss
Question 24
neco2007
Coal mining is an example of
Aconstruction
Bservice
Cextraction
Dmanufacturing
Etertiary
View Explanation & Discuss
Question 25
neco2007
The payment made by government to producers to enable them reduce price is known as
Abonus
Bcompensation
Cmargin
Dmake-up
Esubsidy
View Explanation & Discuss
Question 26
neco2007
The actual amount of share capital a company is allowed to issue to the public is the ---- capital
Aauthorized
Bissued
Cpaid-up
Dreserved
Eworking
View Explanation & Discuss
Question 27
neco2007
An example of service rendering trade association is
AAssociation of Nigerian Miners
BCocoa Farmers’ Association
CManufacturers Association of Nigeria
DNigerian Bar Association
ESaw millers Association of Nigeria
View Explanation & Discuss
Question 28
neco2007
The losses incurred in the running of Public Corporations are borne by the
Aboard of directors
Bdebenture holders
Cmanaging director
Dshareholders
Etax payers
View Explanation & Discuss
Question 29
neco2007
A disadvantage of commercialization of public enterprises in Nigeria is that it
Acreates room for competition with private owned enterprises
Benables consumers have value for their money
Cgenerates funds for government
Dleads to reduction in work force
Epromotes efficiency
View Explanation & Discuss
Question 30
neco2007
Which of the following relies on subvention as the main source of capital?
