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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.

100 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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Past Questions

100 questions

Question 1 of 20 100 total questions

Question 31

jamb 2015

Use the information below to answer this question.

Mammy Plc, whose nominal capital is made up of 5,000,000 ordinary shares at 50K each, decide to offer 80% of it to the public and realized only 50% of the amount due.

what is the company authorized share authorized share capital?

AN4,000,000

BN5,000,000

CN7,500,000

DN2,500,000

View Explanation & Discuss

Question 32

jamb 2015

The circulating capital of a business enterprise is classified into

ACash, work-in-progress and debtors

BCash, Vehicles, land and building

Cdebtors, stocks of raw materials and fitting

DPrepayments, debtors and equipment

View Explanation & Discuss

Question 33

jamb 2015

A type of long-term loan granted to companies with fixed interest rate as well as with redeemable and irredeemable features is referred to as projects.

Adebenture

Ba bond

Ca term loan

Dan overdraft

View Explanation & Discuss

Question 34

jamb 2015

The difference between a private are public limited liability company is that the former

AIs unable to declare and pay dividend.

BHas a higher number of share holder

CIs unable to offer shares to the public.

Dpays higher salaries to its member

View Explanation & Discuss

Question 35

jamb 2015

The external environmental factors that affect a business cooperation are

AEconomic, Social and legal

BPolitical, Culture and Labour

CCompetition, Labour and Political

DCompetition, Industry and Product.

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Question 36

jamb 2015

The forum for the selling and buying of securities of small and medium companies is called.

ASecurities and Exchange Commission

BSecond tier Security Market

CForeign exchange Market

DSecond tier foreign Exchange market

View Explanation & Discuss

Question 37

jamb 2015

The development of commercial activate in Nigeria was harnessed by

AA good storage system

BAvailability of market

CIncrease in production

DActivities

View Explanation & Discuss

Question 38

jamb 2015

In the permanent storage device, DASD means

AData Access Systems Device

BDirect Access Systems Device

CData Access Storage Device

DDirect Access Storage Device

View Explanation & Discuss

Question 39

jamb 2015

The measure of independence available to the individual business units that come together is the main difference between

Avertical and horizontal integration

BMergers and Acquisition

CConsortium and imagination

DTrust and Cartel

View Explanation & Discuss

Question 40

jamb 2015

Resources commited into the production of relatively few commodities is known as

AProduction

BSpecialization

CCreation manufacturing

DManufacturing

View Explanation & Discuss

Question 41

jamb 2015

An agent who takes title to goods and has authority to buy and sell on behalf of another is

AA jobber

BA broker

CA factor

DAn auctioneer

View Explanation & Discuss

Question 42

jamb 2015

A memorandum of association is applicable to a

Apartnership

Bsole trader

Cjoint stock company

Dpublic corporation

View Explanation & Discuss

Question 43

jamb 2015

The body regulating the sale and purchase of shares in Nigeria is the

ACorporate affair commission

BSecurities and exchange commission

CSecurities and exchange tribunal

DNigerian stock exchange

View Explanation & Discuss

Question 44

jamb 2015

In a typical manufacturing enterprises, the line function is performed by the

APublic relations department

BMarketing Department

CEstate or Properties Department

Dlegal Department.

View Explanation & Discuss

Question 45

jamb 2015

A machine which enables sales without the physical presence of sales attendant is a

ATelex Machine

BFax Machine

CVending Machine

DComputer machine

View Explanation & Discuss

Question 46

jamb 2015

Inbound tourism occurs when

Anon-resident s of a country travel within it.

Bnon- resident of a country travel to other countries

Cresident of a country travel within it

DResidents of a country travel to other countries.

View Explanation & Discuss

Question 47

jamb 2015

Second-tier securities market differs from the first-tier securities market in that the former is

Ahighly restricted

BRegulated by SEC

CRegulated by NIPC

Dless restricted.

View Explanation & Discuss

Question 48

jamb 2015

The business organization established mainly for the purpose of carrying out specific assignment for a specific duration is a

APartnership

BCompany

CJoint venture

DCo-operative society

View Explanation & Discuss

Question 49

jamb 2015

A direct service is rendered by

AState counsels

BCivil servants

CPolice

DFamily doctor

View Explanation & Discuss

Question 50

jamb 2015

Which of the following best describes an invoice?

AContractual agreement for the sale of goods

BDocument specifying quantity, description, prices and total value of purchase .

CReceipt containing necessary information about the goods.

DLetter specifying the contractual sales of goods between two parties

View Explanation & Discuss

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