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.

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

97 questions
Question 1 of 20 97 total questions
Question 31
jamb 2013

The right to retain possession of goods until the contract price is paid is referred to as

Aa promise
Bultra vires
Ca breach
Da lien
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Question 32
jamb 2013

A motor dealer who agreed to sell a car to Mr X but delivered it to Mr Y on the delivery date agreed with Mr X. He has discharged the contract by

Aperformance
Bfrustration
Can agreement
Dbreach
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Question 33
jamb 2013

An agent employed to sell goods delivered to him by the principal is referred to as a

Aspecial agent
Bdel credere agent
Cfactor
Duniversal agent
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Question 34
jamb 2013
A contract that is acknowledged before the law court is referred to as
Ainformal contract
Bformal contract
Ccontract of records
Dspecialty contract
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Question 35
jamb 2013

The breaking down of a market into separate and identifiable elements is known as

Adifferentiation
Bsegmentation
Cskimming
Dpenetration
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Question 36
jamb 2013

The essential utility derived from the use of a product is known as

Aaugmented benefit
Bbranded benefit
Ccore benefit
Dformal benefit
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Question 37
jamb 2013

Which of the following is used as a pricing policy?

APackaging
BMarket selection
CLabelling
DMarket skimming
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Question 38
jamb 2013

Management of a business involves the development of ideas for the

Adistribution of goods and services that human wants
Btransportation of goods and services that human wants
Ctransfer of title of ownership of goodsand services to individuals
Dproduction of goods and services that satisfy human needs
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Question 39
jamb 2013
In a staff-authority relationship, the opinion of a specialist in one department to another is
Aa directive
Ban advice
Ca command
Da delegation
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Question 40
jamb 2013

The most suitable organizational structure for small or medium sized enterprises is

Aline structure
Bstaff structure
Ccommittee structure
Dfunctional structure
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Question 41
jamb 2013

The initial function of a manager is

Asetting up an organisation
Bcoordinating
Cplanning
Dprovision of welfare package
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Question 42
jamb 2013

Gilt-edged securities are issued mainly by

Aindividuals
Bnon-governmental organisations
CGovernment
Dmulti-national companies
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Question 43
jamb 2013

Money can be simply be referred to as a

Ameasure of value
Bstandard of value
Cmeans of settlement
Ddurable asset for doing business
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Question 44
jamb 2013

Which of the following is a quality of money

AAvailability
BScarcity
CIndivisibility
DConvertibility
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Question 45
jamb 2013

Money is generally accepted for transactions due to

Athe legal backing
Bthe rule of law
Cits acceptability in the global market
Dthe Central Bank Governor's signature
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Question 46
jamb 2013

Trade fairs in Nigeria are organised by

Athe Federal Government
BManufacturers'' Association of Nigeria
CMinistry of Commerce and Industry
DChambers of Commerce
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Question 47
jamb 2013

In the Nigerian GSM industry,a parliament is organized by the Nigerian Communications Commission in order to

Aincrease profit of service providers
Bprotect the interest of government
Cencourage more people into the business
Dprotect the interest of consumers
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Question 48
jamb 2013
A lawyer that defrauds his client may be derobed by the Nigerian Bar association in order to
Aprotect other lawyers
Bprotect the intergrity of the association
Ccompensate the affected client
Dprevent the client from sueing the association
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Question 49
jamb 2013

The rate of turnover of a firm in a given year is 5 times while the average stock is #12,500. what is the turnover of the firm?

A#24,000
B#46,500
C#62,500
D#65,000
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Question 50
jamb 2013

The amount of authorized capital that shareholders have subscribed to is

Aissued share capital
Bauthorized share capital
Cowner's equity
Dworking capital
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