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.

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

132 questions
Question 1 of 20 132 total questions
Question 21
waec 2024

A  disadvantage of a sole trader is that they pay 

Apay tax to the government
Bhas limited liability
Chas unlimited liability
Ddoes not share profit with others
View Explanation & Discuss
Question 22
waec 2024

The process of making goods and proving services for consumption is

Aexchange
Boccupation
Cproduction
Dspecialization
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Question 23
waec 2024

Ship building is an activity under 

Acommercial occupation
Bindirect service
Cindustrial occupation
Ddirect service
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Question 24
waec 2024

A partner who loses his capital only, in case of bankruptcy, is a 

Aa normal partner
Ba limited partner
Cgeneral partner
Dan active partner
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Question 25
waec 2024

An example of an entrepreneur is a

Aboard member
Bdebenture holder
Cbank manager
Dsole proprietor
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Question 26
waec 2024

An example of an entrepreneur is a

Aboard member
Bdebenture holder
Cbank manager
Dsole proprietor
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Question 27
waec 2024

A source of finance peculiar to public companies is 

Asales of shares
Bpersonal savings
Cmembership contribution
Dborrowing from friends
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Question 28
waec 2024

Conversion of raw materials into finished goods is?

Atertiary production
Bsecondary production
Cprimary production
Dbatch production
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Question 29
waec 2024

The major setback of e-commerce in West Africa is?

Aunbalance economic growth
Bpoor communication infrastructure
Cpolitical interference
Dlack of industries
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Question 30
waec 2024

The development of commerce was promoted by 

Awarehousing
Btransportation
Cspecialization
Dmanufacturing
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Question 31
jamb 2024

An agent held responsible for non-payment of goods bought by the customer he introduced to his principal is called agent

Ageneral
Bspecial
Csales
Ddel-credere
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Question 32
jamb 2024

A type of partnership in which all partners have unlimited liability and jointly manage the business is known as partnership.

Aordinary
Bnominal
Cunlimited
DLimited
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Question 33
jamb 2024

Which of the following types of insurance is usually excluded from the principle of indemnity?

AFire
BFidelity Guarantee
CMarine
DLife
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Question 34
jamb 2024

The term "caveat emptor" implies that

Agoods have been transferred to the buyer
Blet the buyer beware
Clet the seller beware
Dgoods are still with the seller
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Question 35
jamb 2024

A dealer who buys securities at low prices in anticipation of reselling them at higher prices is called a

Ajobber
Bbull
Cbroker
Dbear
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Question 36
jamb 2024

One of the easiest means of transporting petroleum product is by

Apipeline
Bair
Croad
Drail
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Question 37
jamb 2024

Gross profit can be calculated as

ASales minus purchases
BSales minus cost of good sold
Ccost of goods available for sales minus sale
DCost of good sold minus cost of goods available for sale
View Explanation & Discuss
Question 38
jamb 2024

In the event of winding up of a company, who among the following is paid last?

APreference Shareholders
BOrdinary shareholders
CCumulative preference shareholders
DDebenture holders
View Explanation & Discuss
Question 39
jamb 2024

The Nigeria Enterprises promotion Decree brought about policy

Anationalization
Bindustrialization
Cindigenization
Dprivatization
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Question 40
jamb 2024

A ship which has no fixed schedule and travels wherever it can find cargoes to carry is a

Aliner
Btanker
Ctramp
Dferry
View Explanation & Discuss
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