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.

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

50 questions
Question 1 of 10 50 total questions
Question 21
jamb 1997

Use the conversation below to answer the question below;

MUSA: Taiwo why are you in business?

TAIWO: To optimize profit, provide quality products, and discharge my social responsibilities. What of you, Okon and Kalu

OKON: I am in business to cater to the needs of the consumers at all costs.

KALU: I am in business to make a profit, provided quality products at reasonable prices, and establish a good reputation for myself.

 

The businessman that may end up not discharging his social responsibility is--------------------

AMusa
BOkon
CTaiwo
DKalu
View Explanation & Discuss
Question 22
jamb 1997
Partnership are most suitable where
Athe partners are family friends
Bprofessionals are involved
Cmembers can easily rasie enough capital
Dgovernment regulations are favourable
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Question 23
jamb 1997
The object of the business are determined by the
Aworkers
Bgovernment
Csociety
Dpromoters
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Question 24
jamb 1997
The main purpose of insurance is to
Aencourage business to surviveand grow
Bensures that facilities are available for operators
Caccepts risk s and extend credit to policy holders
Dspread individual losses ove all covered participants
View Explanation & Discuss
Question 25
jamb 1997

The person who undertakes any risk in insurance business is known as

Aa broker
Ban underwriter
Can insurer
Dan actuary
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Question 26
jamb 1997
The mode of transportation that is noted for on time dependability and low cost peer unit on gods carried is?
Apipe line
Bair
Crail
Droad
View Explanation & Discuss
Question 27
jamb 1997
An example of indirect service is rendered by
Acivil servants
Bfamily doctors
Chousehold servant
Dentertainers
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Question 28
jamb 1997
Transport, retailing and wholesaling industries rely heavily on
Abanking
Binsurance
Cmanufacturing
Drailway
View Explanation & Discuss
Question 29
jamb 1997
A royal charter was granted to the Royal Niger Company to do business in Nigeria in
ADecember 1888
BMay 1887
CJuly 1886
DAugust 1885
View Explanation & Discuss
Question 30
jamb 1997
Which of the following are the components of commerce?
I Trading and advertising
II Warehousing and transportation
III Packaging and branding
IV Insurance and banking
AI and II
BI and III
CI, II and IV
DII, III and IV
View Explanation & Discuss
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