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
Question 1 of 20 2,221 total questions
Question 411
waec 2009

The tax paid on goods produced within a country is known as

Aimport duty
Bexcise duty
Cad valorem duty
Dcustoms draw back
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Question 412
waec 2009

A document through which the public is invited to subscribe to the shares of a company is a

AMemorandum of Association
BArticle of Association
CProspectus
DDebenture
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Question 413
waec 2009

Which of the following requires a certificate of trading to start business

APublic corporation
BPublic limited company
CCooperative society
DPrivate limited company
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Question 414
waec 2009

Establishing and maintaining mutual understanding between an organization and its customers is known as

Amarketing concept
Badvertising
Cpublic relations
Dsales promotion
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Question 415
waec 2009

If a country devalues its currency, there would be

Areduction in imports
Breduction in exports
Cincrease in production locally
Dincrease in local standard living
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Question 416
waec 2009

Which of the following is a feature of sole proprietorship?

ALegal entity
BUnlimited liability
CLimited liability
DContinuity
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Question 417
waec 2009

Which of the following would be used when goods are sent through independent carriers?

ADelivery note
BDespatch note
CConsignment note
DAdvice note
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Question 418
waec 2009

The rate of turnover is the number of times within a given period that

Astock is sold and replaced
Bclosing stock is sold and replaced
Cpurchases are added to stock
Daverage stock is sold
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Question 419
waec 2009

The taking over of privately owned businesses by the government is called

Aindigenization
Bcommercialization
Cnationalization
Dprivatization
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Question 420
waec 2009

The authority given to a bank to make regular payments on behalf of a customer is

Acredit transfer
Bbank endorsement
Cstanding order
Dbank overdraft
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Question 421
waec 2009
When an order cheque is endorsed it becomes a
Aconfirmed cheque
Bbearer cheque
Cdishonoured cheque
Dcleared cheque
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Question 422
waec 2009

A stale cheque is one on which the date for payment is

Aoverdue
Byet to come
Cmissing
Ddue
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Question 423
waec 2009

Which of the following is not a contract of indemnity

AMarine insurance
BFire insurance
CLife Assurance
DBurglary insurance
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Question 424
waec 2009

Life assurance premium is determined by the assured's

Aeducational level
Bage
Creputation
Dnumber of children
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Question 425
waec 2009

Retail outlets that have identical store design, layout and stock display are

Amultiple shops
Btied shops
Cmobile shops
Dsupermarkets
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Question 426
waec 2009

Which of the following is sent by a supplier who does not want to sell on credit?

APro forma invoice
BConsular invoice
CQuotation
DAdvice note
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Question 427
waec 2009

Which of the following occupations comes under the extractive industry?

i. Cattle-rearing, lumbering, farming
ii. Mining, quarrying, hunting
iii. Shipbuilding, road construction, iron bending
iv. Singing, dancing, barbing

Ai, ii and iii only
Bi, ii and iv only
Ci and ii only
Dii and iii only
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Question 428
waec 2009

A person who invented a new machine for making beverages may protect his exclusive right by

Alabelling the product
Bobtaining a patent
Cchoosing a name for the product
Dobtaining a trade mark
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Question 429
waec 2008
A shareholder who holds 100,000 shares of 50 butts each is given a dividend of 10 percent less 2 percent tax. What is his net return?
AD10,000.00
B9,800.00
CD5,000.00
DD4,900.00
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Question 430
waec 2008
Which of the following is not a favorable condition under which personal selling can be practiced?
AWhen advertising entails relatively high costs
BWhen the market is concentrated
CWhen the market is dispersed
DWhen personal touch is needed
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