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.

4,313 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2
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Past Questions

4,313 questions
Question 1 of 20 4,313 total questions
Question 231
jamb 2022

A request for goods from another country by an importer would be made using

Aan invoice
Ban indent
Can order
Da quotation
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Question 232
jamb 2022

A document issued by the seller's own courier and signed by the customer to acknowledge receipt of the goods is

Aadvice note
Bconsignment note
Cdelivery note
Dfreight note
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Question 233
jamb 2022

A discount deducted from the invoice price of goods to enable the retailer to make profit

Acash discount
Bfunctional discount
Ctrade discount
Dseasonal discount
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Question 234
jamb 2022

One advantage of small scale retail outlets is

Aavailability of self service facilities
Bability to buy in bulk
Ceasy acess to large amount of capital
Dpersonal attention to customers
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Question 235
jamb 2022

A feature of supermarkets which distinguishes it from other large scale retail outlets is that items sold are

Amainly household goods
Bmainly industrial goods
Cdelivered by post
Done line of products
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Question 236
jamb 2022

Goods bought into the country for sale are the country's

Ainvisible imports
Binvisible exports
Cvisible imports
Dvisible exports
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Question 237
jamb 2022

The difference between a country's imports and exports of goods in a particular year is

Aterms of trade
Bterms of payment
Cbalance of payment
Dbalance of trade
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Question 238
jamb 2022

The last link in a channel of distribution is the

Awholesaler
Bretailer
Cconsumer
Dagent
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Question 239
jamb 2022

The part of issued share capital that the company has asked the subscribers to pay for

Aauthorised capital
Bcalled-up capital
Cnominal capital
Dpaid-up capital
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Question 240
jamb 2022

When the cost of sales is divided by the average stock, the result is

Agross profit
Bnet profit
Crate of turnover
Dworking capital
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Question 241
jamb 2022

Examples of current assets are

Acash and trade debtors
Bcash and trade creditors
Ctrade debtors, trade creditors and cash
Dtrade creditors and trade debtors
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Question 242
jamb 2022

The issue of prospectus by a company is an invitation to members of the public to

Asubscribe to the company's shares
Battend the company's Annual general Meeting
Cbuy the company's products
Dattend the company's board meeting
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Question 243
jamb 2022

An association formed by computer distributors to safeguard and promote their interest is a

Achamber of commerce
Bcooperative society
Ctrade association
Dtrade union
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Question 244
jamb 2022

Which of the following is not a function of a consumer association?

AEnsuring that consumers buy quality goods
BEducating consumers on their rights
CPenalizing importers of fake goods
DEnsuring that fair prices are charged
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Question 245
jamb 2022

The document issued by a public company allowing it to commence business is the

AArticles of Association
BCertificate of Incorporation
CMemorandum of Association
DCertificate of Trading
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Question 246
jamb 2022

A business unit in which savings of members are lent to others is a

Aconsumer cooperative society
Bproducer cooperative society
Ccredit and thrift society
Dwholesale cooperative society
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Question 247
jamb 2022

Which of the following activities is not an example of the extractive industry?

Aweaving
Bquarrying
Chunting
Dfishing
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Question 248
jamb 2022

A form of money which was not used in the early days of trade is

Atobacco
Bmetal bars
Ccoins
D
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Question 249
jamb 2022

The type of occupation that a broker belongs to is

Acommercial
Bconstruction
Cextraction
Dmanufacturing
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Question 250
jamb 2022

Commerce is defined as

Abuying and selling of goods and services only
Ball activities in the distribution and exchange of goods and services
Call activities involved in the production of goods and services
Dtransporting and warehousing of goods only
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