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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.

1,707 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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1,707 questions

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Question 391

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

View Explanation & Discuss

Question 392

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 393

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 394

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 395

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 396

jamb 2013

Which of the following is used as a pricing policy?

APackaging

BMarket selection

CLabelling

DMarket skimming

View Explanation & Discuss

Question 397

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 398

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 399

jamb 2013

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

Aline structure

Bstaff structure

Ccommittee structure

Dfunctional structure

View Explanation & Discuss

Question 400

jamb 2013

The initial function of a manager is

Asetting up an organisation

Bcoordinating

Cplanning

Dprovision of welfare package

View Explanation & Discuss

Question 401

jamb 2013

Gilt-edged securities are issued mainly by

Aindividuals

Bnon-governmental organisations

CGovernment

Dmulti-national companies

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Question 402

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 403

jamb 2013

Which of the following is a quality of money

AAvailability

BScarcity

CIndivisibility

DConvertibility

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Question 404

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 405

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 406

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

View Explanation & Discuss

Question 407

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

View Explanation & Discuss

Question 408

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

View Explanation & Discuss

Question 409

jamb 2013

The amount of authorized capital that shareholders have subscribed to is

Aissued share capital

Bauthorized share capital

Cowner's equity

Dworking capital

View Explanation & Discuss

Question 410

jamb 2013

Which of the following will not be stated in a Memorandum of Association

AName clause

Brights of shareholders

Cobject clause

Dregistered office

View Explanation & Discuss

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