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.

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

88 questions
Question 1 of 20 88 total questions
Question 21
waec 2021

Which of the following businesses can raise capital through the stock exchange?

ASole proprietorship
BPrivate company
CPublic company
DCooperative society
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Question 22
waec 2021

The reward for land as a factor of production is

Awage
Brent
Cprofit
Dinterest
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Question 23
waec 2021

Which type of occupation is a carpenter engaged in?

ACommercial
BConstruction
CExtraction
DManufacturing
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Question 24
waec 2021

The word ''limited"  written after the name of a company means that  

Ait has a democratic system of management
Bmembers are liable to the extent of their shareholdings only
Cthe company is a going concern
Dprofit is determined by management
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Question 25
waec 2021

All activities geared towards the distribution and exchange of goods and services is _______

Acommerce
Bmarket survey
Cpersonal selling
Dtrade
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Question 26
waec 2021

An example of a primary product is _____

Atextile
Bpalm oil
Cflour
Dcocoa
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Question 27
waec 2021

The process of changing raw materials into finished goods is ________

Aconstruction
Bextraction
Cmanufacturing
Dmarketing
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Question 28
waec 2021

Commerce started as a result of _______

Acompetition
Bdistribution
Cprivatization
DSpecialization
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Question 29
jamb 2021

The function of a merchant wholesaler is to

Afind markets for producers' finished goods
Bbring buyers and sellers together
Cpossess title to the goods, store and sell to retailers
Dbuy in bulk, store and sell to retailers as desired
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Question 30
jamb 2021

Departmentalization is an aspect of 

Adirecting
Borganizing
Cplanning
Dcontrolling
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Question 31
jamb 2021

Chibuzor agreed to make a dress for Hauwa with September 20, 1995 as the delivery date, if the dress was not ready on that date, Hauwa could

Asue chibuzor for specific performance
Bseize another gown from chibuzor's shop
Cregard the contract between then as terminated
Dsue chibuzor for damage
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Question 32
jamb 2021

Which of the following has power to order withdrawal of a particular food item from circulation?

AFederal High Courts in Nigeria
BStandard Organization of Nigeria
CLocal Government Health Inspectors
DFood and Drugs Department of the Federal Ministry of Health
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Question 33
jamb 2021

The macro-environmental forces and trends which are a constraint on business operations are referred to as

Ainternal factors
Bexternal factors
Ceconomic factors
Dtechnical factors
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Question 34
jamb 2021

Which of the following countries are members of the Lake Chad Basin Commission?

ANiger and Cameroon
BBenin and Nigeria
CNigeria and Mali
DChad and Benin
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Question 35
jamb 2021

Services rendered to the public is provided by 

Adomestic servants
Bcivil servants
Cgovernment
Dprofessionals
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Question 36
jamb 2021

The payment made periodically in respect of an insurance policy entered into is known as

Asurrender
Bbond
Cpremium
Dcommission
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Question 37
jamb 2021

The art of soap making is an example of

Atertiary occupation
Bconstruction occupation
Cprimary occupation
Dsecondary occupation
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Question 38
jamb 2021

A proforma invoice is not required when

Aquoting for the supply of good
Bdealing regularly with a customer
Cgoods are sent on approval
Dfinal prices are uncertain
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Question 39
jamb 2021

A form of money with face value which is greater than the value of the metal contents is 

Abank notes
Blegal tender
Ccommodity money
Dtoken money
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Question 40
jamb 2021

Hire purchase is advantageous to the seller in that 

Ait elevates his living standard
Bpeople pay on installment
Chis turnover will increase
Dit enhances high level of patronage
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