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.

4,313 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2
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Past Questions

4,313 questions
Question 1 of 20 4,313 total questions
Question 321
waec 2020

Goods brought into the country for sale are the country`s?

Ainvisible imports
Binvisible exports
Cvisible imports
Dvisible exports
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Question 322
waec 2020

The difference between a country`s imports and exports of goods in a particular year is?

Aterms of trade
Bterms of payment
Cbalance of payment
Dbalance of trade
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Question 323
waec 2020

The last link in a channel of distribution is the?

Awholesaler
Bretailer
Cconsumer
Dagent
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Question 324
waec 2020

The part of issued share capital that the company has asked the subscribers to pay for is?

Aauthorized capital
Bcalled-up capital
Cnominal capital
Dpaid-up capital
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Question 325
waec 2020

When the cost of sales is divided by the average stock, the result is?

Agross profit
Bnet profit
Crate of turnover
Dworking capital
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Question 326
waec 2020

Examples of currents assets are?

Acash and trade debtors
Bcash and trade creditors
Ctrade debtors, trade creditors and cash
Dtrade creditors and trade debtors
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Question 327
waec 2020

The issue of prospectus by a company is an invitation to members of the public to?

Asubscribe to the company`s shares
Bbuy the company`s product
Cattend the company`s boards meeting
D
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Question 328
waec 2020

An association formed by computer distributors to safeguard and promote their interest is a? 

Achamber of commerce
Bcooperative society
Ctrade association
Dtrade union
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Question 329
waec 2020

Which of the following is not a function of a consumer association?

Aensuring that consumers buy quality goods
Beducating consumers on their rights
Cpenalizing importers of fake goods
Densuring that fair prices are charged
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Question 330
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
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Question 331
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 332
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 333
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 334
waec 2020

production is complete when product reach the?

Awarehouses
Busers
Cretailers
Dshops
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Question 335
waec 2020

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

Acapital
Bentrepreneurship
Clabour
Dland
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Question 336
waec 2020

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

Aweaving
Bquarrying
Chunting
Dfishing
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Question 337
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 338
waec 2020

The types of occupation that a broker belongs to is?

Acommercial
Bconstruction
Cextraction
Dmanufacturing
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Question 339
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 340
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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