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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.

95 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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Past Questions

95 questions

Question 1 of 20 95 total questions

Question 21

waec 2006

Labour and entrepreneur are examples of

Afactors of production

Bdivision of labour

Cdirect services

Dprimary production

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Question 22

waec 2006

The printing of catalogs is one of the costs associated with the operation of

Atied shops

Bmobile shops

Cmail order shops

Ddepartment stores

View Explanation & Discuss

Question 23

waec 2006

Which of the following does not determine the size of a business unit

Athe quality of its products

Bthe nature of the business

Cthe size of the market

Dthe size of capital

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Question 24

waec 2006

The right that a debenture holder has on the earnings of a company is

Alien

Bdividend

Cinterest

Drent

View Explanation & Discuss

Question 25

waec 2006

A dormant partner is one who

Adoes not work hard

Blent his name to the business

Chas limited liability

Ddoes not partake in running the business

View Explanation & Discuss

Question 26

waec 2006

A transporter who offers to carry goods for anyone at a fee is called

Aa national carrier

Ba common carrier

Ca private carrier

Dan independent carrier

View Explanation & Discuss

Question 27

jamb 2006

What is the capital employed?

AN 200 000

BN 340 000

CN 170 000

DN 300 000

View Explanation & Discuss

Question 28

jamb 2006

In the communication process. Y represents

Athe encoder

Bthe medium

Cthe initator

Dnoise

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Question 29

jamb 2006

X represents

Aaction

Btransmission

Cideation

Dreceiver

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Question 30

jamb 2006

Foreign trade also involves?

Aproviding services for other countries

Bspecialization and the exchange of goods in a country

Cbuying and selling within a country

Dthe exchange of goods and services between firms

View Explanation & Discuss

Question 31

jamb 2006

The role of a wholesaler in the channel of distribution is to?

Aproduce goods in large quantities and sell in small quantities

Bbuy goods directly from the manufacturers

Cbuy goods in large quantities and sell in small quantities

Dsell goods directly to the consumers

View Explanation & Discuss

Question 32

jamb 2006

In international trade, exchanging goods for other goods and services purchased instead of paying in foreign currency is known as?

Acounter trade

Bbalance of trade

Cbalance of payments

Dterms of trade

View Explanation & Discuss

Question 33

jamb 2006

The documents used in the purchase and sale of goods which contain other terms of trade are?

Adebit note and credit note

Bdelivery note and advice nopt

Cinvoice and order

Dquotation and invoice

View Explanation & Discuss

Question 34

jamb 2006

An objective of the farmers' association is to?

Aensure that the prices of goods are fair and reasonable

Bcorrect the imbalance between consumers and producers

Cimprove the methods of selling and advertising

Dprovide a stable market outlet for farm inputs

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Question 35

jamb 2006

A shop which consist of many stores trading under a single roof and which stocks varieties of goods with each unit having its own head is a?

Amulitple shop

Bsupermarket

Csuperstore

Ddepartmental store

View Explanation & Discuss

Question 36

jamb 2006

The Customs and Excise Department is responsible for the the collection of?

Aroyalties

Btariffs

Ctaxes

Dcharges

View Explanation & Discuss

Question 37

jamb 2006

The major types of warehouse are?

Amanufacturer, bonded, departemental and private

Bbonded, public, coldroom and private

Cmanufacturer, bonded, public and departmental

Dwholesaler, manufacturer, public and bonded

View Explanation & Discuss

Question 38

jamb 2006

Consumerism aims at protecting the consumer from?

Aharmful products

Bdrug addiction

Csmoking cigarettes

Dalcohol consumption

View Explanation & Discuss

Question 39

jamb 2006

Hire purchase is beneficial to the seller because?

Ait enhances his living standard

Bit increases his turnover

Cpeople pay instalmentally

Dof the patronage he enjoys

View Explanation & Discuss

Question 40

jamb 2006

A trade association consists of members engaged in the same trade while a chamber of commerce is?

Ahighly regulated by a governent agency

Bnot restricted on a particular industry

Cmade up of members that are registered

Dmade up of firms in the banking industry

View Explanation & Discuss

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