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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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Past Questions

1,707 questions
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Question 1 of 20 1,707 total questions
Question 41
jamb 2024

An agent held responsible for non-payment of goods bought by the customer he introduced to his principal is called agent

Ageneral
Bspecial
Csales
Ddel-credere
View Explanation & Discuss
Question 42
jamb 2024

A type of partnership in which all partners have unlimited liability and jointly manage the business is known as partnership.

Aordinary
Bnominal
Cunlimited
DLimited
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Question 43
jamb 2024

Which of the following types of insurance is usually excluded from the principle of indemnity?

AFire
BFidelity Guarantee
CMarine
DLife
View Explanation & Discuss
Question 44
jamb 2024

The term "caveat emptor" implies that

Agoods have been transferred to the buyer
Blet the buyer beware
Clet the seller beware
Dgoods are still with the seller
View Explanation & Discuss
Question 45
jamb 2024

A dealer who buys securities at low prices in anticipation of reselling them at higher prices is called a

Ajobber
Bbull
Cbroker
Dbear
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Question 46
jamb 2024

One of the easiest means of transporting petroleum product is by

Apipeline
Bair
Croad
Drail
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Question 47
jamb 2024

Gross profit can be calculated as

ASales minus purchases
BSales minus cost of good sold
Ccost of goods available for sales minus sale
DCost of good sold minus cost of goods available for sale
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Question 48
jamb 2024

In the event of winding up of a company, who among the following is paid last?

APreference Shareholders
BOrdinary shareholders
CCumulative preference shareholders
DDebenture holders
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Question 49
jamb 2024

The Nigeria Enterprises promotion Decree brought about policy

Anationalization
Bindustrialization
Cindigenization
Dprivatization
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Question 50
jamb 2024

A ship which has no fixed schedule and travels wherever it can find cargoes to carry is a

Aliner
Btanker
Ctramp
Dferry
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Question 51
jamb 2024

Which of these is NOT a governments legislation to protect the consumer?

AFoods and drugs
BWeight and measure
CPrivatization and commercialization
DTrade description
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Question 52
jamb 2024

The advertising medium which uses electric current in bulbs is referred to as

Aposters
Btelevision
Cneon signs
Dbill boards
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Question 53
jamb 2024

Bonded warehouse is controlled and supervised by

Acustoms
Bnavy
Cimmigration
Dpolice
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Question 54
jamb 2024

The association that encourages savings for the benefit of its members is known as

AConsumer association
BCredit and thrift co-operative society
CConsumer co-operative society
DProducer co-operative society
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Question 55
jamb 2024

The aid to trade which enables producer and consumer to transact business without physical contact is known as

Atourism
Bcommunication
Cadvertising
Dinsurance
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Question 56
jamb 2024

The principle of insurance which ensures that an individual is restored to his former position after suffering a loss is

Autmost good faith
Binsurable interest
Cindemnity
Dsubrogation
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Question 57
jamb 2024

The rules and regulations guiding the conduct of business transactions are known as law

Acriminal
Bcommon
Ccontract
Dcommercial
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Question 58
jamb 2024

Departmental store, supermarket and chain store are examples of

Asmall scale retailers
Bmedium scale producers
Clarge scale retailers
Dlarge scale whole-salers
View Explanation & Discuss
Question 59
jamb 2024

The documents sent by the suppliers of good to a prospective buyer, informing him of what to pay if he buys the good is

Acredit note
Badvice note
Cinvoice
Ddebt note
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Question 60
jamb 2024

The following are functions of marketing EXCEPT

Apackaging
Bdistribution
Cinsurance
Dadvertising
View Explanation & Discuss
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