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.

1,707 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2
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Past Questions

1,707 questions
Question 1 of 20 1,707 total questions
Question 201
jamb 2020

A distinguishing characteristic of a limited liability company is that

Ais a collection of many sole proprietors
Bis a multiple partnership
Chas limited resources
Dcan sue and be sued
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Question 202
jamb 2019

An International organisation that influence and fix the price of oil in the International markets is

AIMF
BECOWAS
COPEC
DOAU
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Question 203
jamb 2019

Someone traveling abroad for at least "twenty - four hours" and a maximum stay of six months is known as

ATransportation
BTourism
CInternational trade
DDomestic tourism
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Question 204
jamb 2019

Which function of money is described in the following statement?
It serves as a medium through which business transactions are carried out

AStandard for deferred payments s
BMedium of exchange
CStore of value
DUnit of account
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Question 205
jamb 2019

The Sole aim of government owned business is to

Amake profit
Bprovide services to the public
Cspread environmental pollution
Dmanage action
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Question 206
jamb 2019

One of these is not part of small-scale retailers

AUrban stores
BRoadside traders
CSupermarkets
DItinerant traders
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Question 207
jamb 2019

What is NPA?

ANigerian Police Authority
BNigerian Ports Authority
CNational Ports Authority
DNational Police Authority
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Question 208
jamb 2019

All harbours, docks and waterways of Nigeria are looked after by a public corporation called the

ANigerian Police Authority
BNigerian Ports Authority
CNational Ports Authority
DNational Police Authority
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Question 209
jamb 2019

Booklets containing a range of products, their uses and prices are called

APosters
BHandbill
CCatalogues
DPrice Journal
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Question 210
jamb 2019

Commerce brings about all except one

AInternational co-operation
BImprovement in the standard of living
CMonotony of work
DInfrastructural development
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Question 211
jamb 2019

An abridged message sent at express speed to reach its destination faster than the airmail letters is known as

ATelephone
BTelegram
CTelex
DNITEL
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Question 212
jamb 2019

First Bank of Nigeria is an example of

ACommercial bank
BDevelopment bank
C
DMerchant bank
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Question 213
jamb 2019

Use the following information to answer this question.
Oladosu Bookshop
54, Ahmadu Bello Way
Kaduna
P.O.BOOX 336
6 January 1989
Olu Stationery ltd
17, Kakawa Street
Lagos

Dear Sir,
We require 200 pieces of 0.8mm fountain pens and 1000 pieces of plain single line 21cm × 18cm exercise books.

Please give us quotes for the respective articles for immediate delivery and a statement of your terms of trade.

Yours Faithfully
Manager.

From the question above, the document the firm or organization will send to the buyer is

ADelivery notes
BAdvice notes
CAn order form
DQuotations
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Question 214
jamb 2019

Use the following information to answer this question.
Oladosu Bookshop
54, Ahmadu Bello Way
Kaduna
P.O.BOOX 336
6 January 1989
Olu Stationery ltd
17, Kakawa Street
Lagos

Dear Sir,
We require 200 pieces of 0.8mm fountain pens and 1000 pieces of plain single line 21cm × 18cm exercise books.

Please give us quotes for the respective articles for immediate delivery and a statement of your terms of trade.

Yours Faithfully
Manager.

The above represents?

AA quotation
BConsignment notes
CLetters of Inquiry
DAn order form
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Question 215
jamb 2019

A bear market is said to be in existence in a period of

ABoom
BStump
CBullish
DStagflation
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Question 216
jamb 2019

The difference between the buying price and the selling price of a share is referred to as

ACommission
BProfit
CJobber's Profit
DTurnover
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Question 217
jamb 2019

All but one is not a barriers to foreign trade

ANatural Barriers
BEconomic Barriers
CSocial and Language Barriers
DTrade Fair
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Question 218
jamb 2019

Which of these is a document used in International trade?

ADebit note
BCredit note
CInvoice
DPrice ring
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Question 219
jamb 2019

The difference between a chamber of commerce and a trade association is that the former

Ais not restricted to a particular industry
Bis a branch of trade that sells product
Cconsists of members engaged in the same trade
Dare association of individuals or firms
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Question 220
jamb 2019

A number of shipping lines operating on a certain route, which agree on a common policy regarding the conditions under which goods are to be carried

ACartel
BConference
CSyndicate
DTrust
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