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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.

2,221 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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Past Questions

2,221 questions

Question 1 of 20 2,221 total questions

Question 351

waec 2011

The relationship which subsists between between two or more persons carrying on a business with a view to profit" is

Acooperative society

Bpartnership

Cpublic limited company

Dcredit union

View Explanation & Discuss

Question 352

waec 2011

Liquid capital in a business means the

Amovable assets of the business

Bauthorised capital

Cissued capital

Dassets easily convertible to cash

View Explanation & Discuss

Question 353

waec 2011

Trade as a division of commerce is usually classified into

Aretail and whole sale

Bimport and export

Chome and foreign

Dvisible and invisible

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Question 354

waec 2011

Using symbols, letters, name or combination of these by a company to distinguish its products is

Aproduct cycle

Bmarketing mix

Ctrade mark

Dmarket segmentation

View Explanation & Discuss

Question 355

waec 2011

Which of the following is not a function of Ports Authority?

AProviding facilities for loading and off-loading of vessels

BCollection of dock dues

CProviding enough ships for the country

DDredging of harbours

View Explanation & Discuss

Question 356

waec 2011

A voluntary association of business executives within a locality is known as

ATrade Union

BConsumers' Association

CChamber of Commerce

DTrade Association

View Explanation & Discuss

Question 357

waec 2011

Encouraging a high quality of members' products through the circulation of research information is a function of

AManufacturers Association

BTrade Union

CEmployers Association

DConsumers Association

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Question 358

waec 2011

When C.I.F is quoted on an invoice, it means that the price includes the

Acost of goods only

Bcost of insurance only

Ccost of carriage only

Dcost, insurance and carriage

View Explanation & Discuss

Question 359

waec 2011

Before the advent of legal tender and credit instrument, which of the following was used as a medium of exchanged?

ACurrency notes

BCowries

CCheques

DBankdrafts

View Explanation & Discuss

Question 360

waec 2011

Which of the following distinguishes home trade from foreign trade?

APayments are easily arranged

BTaxies are levied

CGoods have to be warehoused

DMiddlemen are not required

View Explanation & Discuss

Question 361

waec 2011

Banks settle their indebtedness in the

Adiscount house

Bstock exchange market

Ccommercial bank

Dclearing house

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Question 362

waec 2011

A cheque dated 15th March 2012, will become stale on

A16th June 2012

B16th July 2012

C16th August 2012

D16th September 2012

View Explanation & Discuss

Question 363

waec 2011

The par value of a share is also known as its

Apremium price

Bmarket price

Cdiscount price

Dnominal price

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Question 364

waec 2011

Which of the following is not a principle of insurance

AInsurable interest

BSubrogation

CSurrender value

DProximate cause

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Question 365

waec 2011

An overdraft is

Aamount permitted to be withdrawn in excess of one's deposit

Bexcessive cash withdrawn by commercial banks from the Central Bank

Ccredit balance standing in the name of a customer

Dspecial deposits made by commercial banks

View Explanation & Discuss

Question 366

waec 2011

A document issued to the public by a company to advertise its share is known as

Aprospectus

Btender

Cshare certificate

Dtrading certificate

View Explanation & Discuss

Question 367

waec 2011

The total assets of a business less its total liability is known as

Acapital owned

Bshare capital

Cissued capital

Dworking capital

View Explanation & Discuss

Question 368

waec 2011

The turnover of a trade is the

Anumber of times the stock is sold

Btotal sales made during a period

Cprofit made during the period

Dtotal purchases made during the period

View Explanation & Discuss

Question 369

waec 2011

In marine insurance, when a particular cargo is thrown into the sea in order to prevent the ship from sinking, the type of marine loss is

Aparticular average loss

Bgeneral average loss

Ctotal average loss

Dconstructive average loss

View Explanation & Discuss

Question 370

waec 2011

A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock was D3,000.

What is the rate of turnover?

A13.5 times

B10.8 times

C9 times

D5.4 times

View Explanation & Discuss

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