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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.

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

49 questions
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Question 1 of 9 49 total questions
Question 21
jamb 1994
What are fixtures and fittings in a balance sheet?
Aliquid capital
Bcurrent assets
Cfixed assets
Dworking capital
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Question 22
jamb 1994
Compulsory dissolution of a business can arise from
Aan agreement by the owners
Ba declaration by a court of law
Cthe termination of its life
Dan unfavourable economic climtate
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Question 23
jamb 1994
Which of the following groups is paid first when a firm liquidates?
APreference shareholders
BDebenture holders
COrdinary shareholders
DCumulative preference shareholders
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Question 24
jamb 1994
Which of the following takes place when firms producing at different stages in the same industry combine?
Aconglomeration
Bvertical integration
Chorizontal integration
Dcartel
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Question 25
jamb 1994
A distinguishing characteristics of a limited liability company is that it
Ais a collection of many sole proprietors
Bis a multiple partnership
Ccan sue and be sued
Dhas limited resources
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Question 26
jamb 1994
A demonstration of social responsibility by a business is the payment of
Ataxes to government
Bdividends to shareholders
Cinterests on loans
Dpremium on insurance
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Question 27
jamb 1994

The production process that combines two or more raw materials into one end product is

Aconditioning
Bblending
Cmerging
Dsynthesis
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Question 28
jamb 1994
The type of activity which turns processed raw materials into consumer and industrial goods is described as
Aextractive
Bmanufacturing
Cconstructive
Dprocessing
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Question 29
jamb 1994

Commerce is defined as the study of how

Aman utilizes the resources in his physical environment
Bman produces, distributes and consumes his goods and services
Cman buys, sells and distributes goods and services
Draw materials are changed into finished goods
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