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.

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

130 questions
Question 1 of 20 130 total questions
Question 31
jamb 2025

The production of goods in anticipation of demand is possible because of the existence of?

 

AAdvertising
BBranding
CPackaging
DWarehousing
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Question 32
jamb 2025

Span of control is defined as the

 

Aauthority of the supervisor
Bnumber of subordinates reporting directly to a supervisor
Cqualification possessed by the supervisor
Dnumber of staff in the organization
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Question 33
jamb 2025

A diagram showing the positions of the structure of a company is

 

 

Aorganizational chart
Bflow chart
Cspan of control
Dvertical integration
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Question 34
jamb 2025

A limited company has an authorized capital of 20,000,000 shares. If each share capital cost 50k and the company sold 12,000,000
shares. Its issued capital is

 

AN16,000,000
BN4,000,000
CN10,000,000
DN6,000,000
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Question 35
jamb 2025

One of the functions of the ports authority is

 

Aenforcing law and order in harbors
Bchecking the activities of smugglers
Ccollecting import duties
Dproviding warehousing services
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Question 36
jamb 2025

The difference between the cost price and selling price of an article is

 

Arebate
Bmark-up
Cdiscount
Dcommission
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Question 37
jamb 2025

A false statement made by one party with an intention of inducing the other party to enter into a contract with him is known as

 

Aconsensus ad idem
Blegal capacity
Cconsideration
Dmisrepresentation
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Question 38
jamb 2025

The duty of an agent of necessity to a principal is based on?

 

ANegotiation
BTrust
CAbility
DMutual agreement
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Question 39
jamb 2025

A source of capital to a public company which attracts a fixed rate of interest is

 

Aan ordinary share
Ba debenture
Ca subvention
Dan overdraft
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Question 40
jamb 2025

An organization of producers of similar products, which controls output with the intention to fix price is a

 

 

Acartel
Btrust
Csyndicate
Dconsortium
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Question 41
jamb 2025

Labour and entrepreneur are examples of

 

 

 

Aprimary production
Bdirect services
Cfactors of production
Ddivision of labour
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Question 42
jamb 2025

Use the information below to answer questions below

 

                   #

Sales

50,000.00

Debtors

10,000.00

Cash in hand

5,000.00

Opening stock

30,000.00

Creditors

8,000.00

Purchases

16,000.00

Overdraft

12,000.00

Closing stock

10,000.00

Calculate the working capital

A#35,000.00
B#14,000.00
C#5,000.00
D#20,000.00
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Question 43
jamb 2025

Which of the following is not a principle of insurance?

AInsurable risk
BInsurable interest
CIndemnity
DSubrogation
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Question 44
jamb 2025

Commercial activities among West African countries are greatly hindered by

 

Anationalization decree
Bgood road network
Clack of an acceptable medium of exchange
Dtoo many commercial banks
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Question 45
jamb 2025

The process of placing the right people in the right position is an organization is

 

Adirecting
Bmotivating
Cplanning
Dstaffing
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Question 46
jamb 2025

A disadvantage of commercialization to consumers is that

 

Acustomers do not have value for their money
Bit reduces loyalty of workers
Cit promotes inefficiency
Dprices of products increase
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Question 47
jamb 2025

Which of the following legislation aims primarily at protection of consumers?

 

ATrade Description Act
BPartnership Act
CLaw of Contract
DCompany's Act
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Question 48
jamb 2025

Mr ojo borrowed N54,000 from a commercial bank and deposited his life insurance certificate with the bank. The certificate
deposited serves as

 

Aa current asset
Ba collateral security
Can interest charged
Da loan repayment
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Question 49
jamb 2025

A company which acquires more than 50% voting shares of another company is called?

 

Aa consortium
Ba cartel
Ca holding company
Da trust
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Question 50
jamb 2025

The selling of articles from place to place on foot is

 

Abarter
Bitinerant trading
Cmail order
Dself service
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