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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.

1,707 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2
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Past Questions

1,707 questions
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Question 1 of 20 1,707 total questions
Question 301
jamb 2017
The function of commerce in relation to production is ______
Ahelping in the extraction of raw material from nature
Bproviding a link between the different stage of conversion of good
Cyielding result
Dsatisfying
View Explanation & Discuss
Question 302
jamb 2017
A demerit of communication is that it ________
Amakes payment for goods cumbersome
Bincrease the cost of goods in transit
Cgive room for distortion of fact
Dhinder quick reception of messages over a long distance
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Question 303
jamb 2017
What is the reward accruable to land?
ARent
Bprofits
Cwages
DInterest
View Explanation & Discuss
Question 304
jamb 2017
Production ends when goods and services ________
Areach the final consumer
Bare used for manufacturing
Care packaged and labelled
Dare sold to the middlemen
View Explanation & Discuss
Question 305
jamb 2017
The concept that refers to the sale, transfer or exchange of goods and services is
Aindustry
Btrade
Ctariff
Dmarketing
View Explanation & Discuss
Question 306
jamb 2017
Water corporation is an example of ______?
Aco-operative society
Bpublic enterprise
Cprivate enterprise
Dlimited company
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Question 307
jamb 2017
One disadvantages of advertising is that it —
Acould be misleading
Bdecreases sales
Creduces profit
Dcauses over stocking
View Explanation & Discuss
Question 308
jamb 2017
The quality of money that describe its uniformity is
Arecognizability
Bdurability
Cportability
Dhomogeneity
View Explanation & Discuss
Question 309
jamb 2017
The government agency involved in issuing of export licences is _______?
ANigeria Export Processing Zone
BNigeria Export Promotion council
CNigeria Port Authority
DCustoms and Excise Authority
View Explanation & Discuss
Question 310
jamb 2017
A government policy that encourages transfer of ownership from foreigners to indigenes of the country is known as ____?
Anationalisation
Bprivatisation
Cindigenisation
Dcommercialisation
View Explanation & Discuss
Question 311
jamb 2017
The fees charged on postal order by the post office is _____?
Ainterest
Bbrokerage
Cpoundage
Dpremium
View Explanation & Discuss
Question 312
jamb 2017
When a buyer has been overcharged for goods supplied, the seller issues a _______?
Adebit note
Bproforma invoice
Cletter of credit
Dcredit note
View Explanation & Discuss
Question 313
jamb 2017
The letters E and OE stands for __________?
AErrors of exception
BErrors and omissions excepted
CEstimated and order error
DEnd of error
View Explanation & Discuss
Question 314
jamb 2017

The process of converting a non-profit making organisation to a profit-making business is ________?

Aindigenisation
Bprivatisation
Cderegulation
Dcommercialisation
View Explanation & Discuss
Question 315
jamb 2017

At the collapse of a business enterprises, the person appointed to dispose off the assets is called ________?

Aan auctioneer
Ba broker
Ca liquidator
Dan auditor
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Question 316
jamb 2017
An instrument used in lieu of legal tender is known as ______?
AToken money
Bcommodity money
Cfiat money
Drepresentative
View Explanation & Discuss
Question 317
jamb 2017

The factor of production that is relatively indestructible and immobile is _______?

Acapital
Blabour
Cland
Drent
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Question 318
jamb 2017
An agreement that is enforceable in law is ________?
Aa contract
Ban offer
Can acceptance
Da consideration
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Question 319
jamb 2017
A bill of exchange already accepted can be discounted by the holder in ______?
Athe central bank
Bat least two banks
Chis bank
Dany bank
View Explanation & Discuss
Question 320
jamb 2017
Which of the following legislation aims primarily at the protection of consumers?
ALaw of contract
BTrade description Act
CCompany's Act
DPartnership Act
View Explanation & Discuss
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