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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
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Question 1 of 20 2,221 total questions
Question 361
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.

The average stock is

AD5,000
BD3,000
CD2,500
DD2,000
View Explanation & Discuss
Question 362
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 cost of goods sold?

AD28,000
BD27,000
CD8,000
DD5,000
View Explanation & Discuss
Question 363
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 cost of goods sold?

AD28,000
BD27,000
CD8,000
DD5,000
View Explanation & Discuss
Question 364
waec 2011

The main divisions of production are

Aindustry, direct and indirect services
Bextraction, manufacturing and construction
Cindustry, commerce and direct services
Dindustry, commerce and trading
View Explanation & Discuss
Question 365
waec 2011

Shipping services rendered by Nigeria to The Gambia would be classified by The Gambia as

Ainvisible imports
Binvisible exports
Cvisible imports
Dvivible exports
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Question 366
waec 2011

Which of the following is a means of payment?

AI.O.U
BPostal order
CPromissory note
DC.I.F
View Explanation & Discuss
Question 367
waec 2011

Manufacturers may sell goods directly to consumers where goods are i. made to customer's specification ii. advertised by the manufacturer iii. perishable iv. highly technical v. widely demanded

Ai,iii and iv only
Bi and iii only
Ciii,iv and v only
Diii and iv only
View Explanation & Discuss
Question 368
waec 2011

If Karamo who lives in The Gambia imports goods from Senegal and later sells them in Guinea Bissau; Karamo is engaged in

Amulti-lateral trade
Bcounter trade
Cbarter trade
Dentrepot trade
View Explanation & Discuss
Question 369
waec 2011

Taxes on imported foreign goods are also known as

Aexcise duties
Btariffs
Cad valorem taxes
Ddock dues
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Question 370
waec 2011

The last link in the channel of distribution is the

Aretailer
Bconsumer
Cwholesaler
Dproducer
View Explanation & Discuss
Question 371
waec 2011

Which of the following are elements of a valid contract?

ADishcarge and performance
BOffer and acceptance
CAge and maturity
DPromise and capacity
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Question 372
waec 2011

One of the advantages of air transport over other forms of transport is

Asafety
Bflexibility
Ccost
Dspeed
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Question 373
waec 2011

That portion of the share capital which the company has asked the shareholders to pay for is known as

Aauthorized capital
Bpaid-up capital
Cissued capital
Dcalled-up capital
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Question 374
waec 2011

The co-operative society that performs a combination of the functions of other types of cooperatives is called

Aconsumer cooperative
Bmultipurpose cooperative
Cproducer cooperative
Dthrift and credit cooperative
View Explanation & Discuss
Question 375
waec 2011
Which of the following is used to inform the addressee that he has a registered parcel for collection?
ACounterfoil
BExpress label
CSlip
DTelegram
View Explanation & Discuss
Question 376
waec 2011

Which of the following is not pre-sale service?

ARepair and maintenance work
BProviding detailed information about the goods to be purchased
CDemonstrating the use and performance of the products to be sold
DSetting up facilities for storing the product to be bought
View Explanation & Discuss
Question 377
waec 2011

Payment to a ship owner for carrying one's cargo is

Ademurrage
Bfare
Cdock due
Dfreight
View Explanation & Discuss
Question 378
waec 2011

The reward received by a party in a contract agreement is known as

Aconsideration
Bacceptance
Coffer
Dwarranty
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Question 379
waec 2011

When the government gives up its ownership and control of a business to individuals, this is known as

Anationalization
Bcommercialization
Cprivatization
Dindigenization
View Explanation & Discuss
Question 380
waec 2010

Which of the following mode of transport involves the use of tramps?

ALand transport
BSea transport
CAir transport
DPipeline
View Explanation & Discuss
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