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 2015

The agency in Nigeria which ensure that products conform to government quality specification is the

ANigerian consumers’ association
BManufacturers' Association of Nigeria
CStandard Organization of Nigeria
DNigerian Chamber of commerce
View Explanation & Discuss
Question 22
jamb 2015

The major determinant of fire insurance premium is the

AOwner of the property
Busefulness of the property to the owner
CType and structure of the property to be insured
Dextent of fire damaged anticipated.
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Question 23
jamb 2015

In product pricing, which of these elements need more consideration than others?

AThe cost of producing the product
BThe economic conditions in the market
Cthe demography of the buyers of the product
DThe demand for the product
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Question 24
jamb 2015

Which of the following is classified as an immaterial want?

AProtection
BRaw materials
CMachines
DGoods and Services
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Question 25
jamb 2015

The development of commerce in west Africa was not hampered by

AInadequate capital
BInadequate means of transportation
CInsurance
DLow savings
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Question 26
jamb 2015
A cheque drawn by a bank official on the bank’s deposit in another bank on a customer’s deposit in another bank
ABank draft
BBankers’ order
CPromissory note
DTravelers cheque
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Question 27
jamb 2015

The world tourism organization has it headquarters in

ANew York
BMadrid
CParis
DLondon
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Question 28
jamb 2015

When an oil exploring and mining company builds a health centre in one community where at operates, such a company is

ACarrying favour from local people
Bfinding a way to spend excess profit
CFulfilling part of its social responsibility
DInvesting its idle fund
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Question 29
jamb 2015

The vessels that operate on specific route on high seas and oceans are

ACoastal Liners and Cargo Liners
BCargo Liners and Tramp liners
CPassenger liners and Tramp liners
DPassenger Liners and Cargo Liners
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Question 30
jamb 2015
\(\begin{array}{c|c}
N & N \\
\hline
\text{Capital 8000} & \text{Plant and machinery5000} \\
\hline
\text{Net profit 4000} & \text{Motor van 4500} \\
\hline
\text{Drawings 200} & \text{Stock 2000} \\
\hline
\text{Creditors 2000} & \text{Debtor 1000} \\
\hline
\text{Accruals 300} & \text{Bank 100} \\
\hline
& \text{Cash 600} \\
\hline
14100 & 14100 \\
\end{array}\)


What is the acid ratio?
A1.13 : 1
B2 : 1
C4.75 : 1
D4.25 : 1
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