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.

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

128 questions
Question 1 of 20 128 total questions
Question 21
waec 2023

A bill of lading that is tagged clean means that the goods being delivered are

Aon credit
Bnot damaged
Cpaid for
Dduty free
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Question 22
waec 2023

An organization that could strive for improvement in electricity and telephone services to users is

Aa trade association
Ba manufacturers' association
Ca manufacturers' association
Da consumers'association
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Question 23
waec 2023

An example of after-sales services is

Asorting and grading of goods
Bgranting of discount
Cprovision of price list and terms
Dfree replacement of parts
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Question 24
waec 2023

Operating a state owned enterprise with the intention of making more profit is

Anationalization
Bderegulation
Cprivatization
Dcommercialization
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Question 25
waec 2023

Industrial, commercial and service are types of

Aspecialization
Boccupation
Cmanufacturing
Dextraction
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Question 26
waec 2023

An element of a valid contract is

Aoperation of law
Bperformance
Cbreach
Dcapacity to contract
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Question 27
waec 2023

The excess value of total assets over total liabilites is

Acapital owned
Bborrowed capital
Cpaid-up capital
Dpaid-up capital
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Question 28
waec 2023

Which of the following is not a factor of production?

ACapital
BStaffing
CLabour
DLand
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Question 29
jamb 2023

In law of contract, a counter offer operates as

Aan acceptance
Ba rejection
Can offer
Da contract
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Question 30
jamb 2023

A system where customer patronage is sought by producing what they need is referred to as

Asales promotion
Bproduct promotion
Cmarket promotion
Dmarket orientation
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Question 31
jamb 2023

The Central Bank Monetary policy instrument by which it buys and sells securities is called

Aopen market operation
Bbank credit
Ccash reserve ratio
Dbank rate
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Question 32
jamb 2023

The process of buying, selling and distribution of goods and services is

Amarketing concept
Bmarketing
Cretail trade
Dcommerce
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Question 33
jamb 2023

If a business uses part of its profit to develop the area where it operates, the business is fulfilling its

Amarketing responsibilities
Bmanagerial responsibilities
Ceconomic responsibilities
Dsocial responsibilities
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Question 34
jamb 2023

The difference between the central bank and commercial bank is that the former

Aserves as lender of last resort
Bdiscount treasury bills
Csaves valuable of individual
Dgive loans to the public
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Question 35
jamb 2023

The four P's of marketing are also known as

Amarketing mix
Bproduct mix
Cpromotion mix
Dadvertising mix
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Question 36
jamb 2023

What is a quota?

Aban on all imported goods
Ba physical restriction placed on quantity of goods that can be imported
Ctax paid on goods produced within a country
Dtax paid on goods produced outside a country
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Question 37
jamb 2023

Why is clean bill of lading called so?

Ait is a clear bill
Bit shows not records of damaged goods
Cit shows records of damaged goods
Dit signifies no debt is owed
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Question 38
jamb 2023

Another name or term for a dishonoured cheque is

Aa bearer cheque
Ban open cheque
Ca bounced cheque
Dan order cheque
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Question 39
jamb 2023

The stock exchange is a market where

Ashort-term securities are sold
Bmedium term securities are sold
Call types of securities are sold
Dlong term securities are sold
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Question 40
jamb 2023

One of these is a current asset

Amachineries
Bfittings
Cstock
Dmotor vehicles
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