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.

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

90 questions
Question 1 of 20 90 total questions
Question 21
waec 2020

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

AArticle of association
Bcertificate of incorporation
Cmemorandum of association
Dcertificate of trading
View Explanation & Discuss
Question 22
waec 2020

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 23
waec 2020

One advantage of sole proprietorship is that?

Aaccess to large capital is easy
Bdecisions are made promptly
Cbusiness risks are spread
Dcontinuity of business is assured
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Question 24
waec 2020

A partner whose name is used to boost the image of the business and does not contribute capital is a?

Adormant partner
Bgeneral partner
Climited partner
Dnominal partner
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Question 25
waec 2020

production is complete when product reach the?

Awarehouses
Busers
Cretailers
Dshops
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Question 26
waec 2020

The factor of production which bear all the risk of the business is?

Acapital
Bentrepreneurship
Clabour
Dland
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Question 27
waec 2020

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

Aweaving
Bquarrying
Chunting
Dfishing
View Explanation & Discuss
Question 28
waec 2020

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

Atobacco
Bmetal bars
Ccowries
Dcoins
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Question 29
waec 2020

The types of occupation that a broker belongs to is?

Acommercial
Bconstruction
Cextraction
Dmanufacturing
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Question 30
waec 2020

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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Question 31
jamb 2020

The strategy adopted by a firm that ceases to operate at one or more locations because of inactivity is

Aconsolidation
Brejuvenation
Cdiversification
Dfocus
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Question 32
jamb 2020

NACCIMA stands for 

ANigerian American Centre for Culture, Industries, Mines and Arts
BNigerian Association for Culture, Civics, Industries, Minerals and arts
Arts
CNational Agency for Culture, Civilization, Investment, Manufacturing and Agriculture
DNigeria Association of Chambers of Commerce,
Industries, Mines and Agriculture
View Explanation & Discuss
Question 33
jamb 2020

The main documents sent to an importer of goods by the exporter are

Abill of lading, invoice, insurance policy, consular invoice, certificate of origin and bill of exchange
Bindent, bill of lading, certificate of origin, invoice and bill of exchange
Ccertificate of origin, bill of exchange, invoice, insurance policy, indent and bil of lading
Dinvoice, consular invoice, certificate of origin, freight note, indent and insurance policy
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Question 34
jamb 2020

The above chart represents the

Apromotion mix relationship
Bmarketing mix relationship
Cadvertising mix relationship relationship
Dproduct mix relationship
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Question 35
jamb 2020

Which of the following attracts only interest but leaves the capital unpaid?

Auberrimae fidei
Bsubrogation
Ccontribution
Dredeemable bond
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Question 36
jamb 2020

The process of dividing tasks into jobs and departments and delegating authority is known as

Adirecting
Bleading
Corganizing
Dstaffing
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Question 37
jamb 2020

A doctor who attends to patients at home after his official duty is

Aa direct and indirect service worker
Ba direct service worker
Can indirect service worker
Da community developer
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Question 38
jamb 2020

The agency that currently oversees the privatization and commercialization processes in Nigeria is the

ANigerian Stock Exchange
BTechnical Committee on Privatization and Commercialization
CSecurities and exchange commission
DBureau of public enterprises
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Question 39
jamb 2020

From the diagram above, what does I stand for?

Aaids to trade
Bhome trade
Cpublicity
Dadvertising
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Question 40
jamb 2020

Given:
                                     ₦
Sales                          15,000
Opening stock            5,600
Purchases                    9,700
Closing stock               4,400
Gross profit                  4,500
Net profit                      2,000

From the above data, calculate the rate of turnover

A2.00 times
B3.50 times
C2.18 times
D3.00 times
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