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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.

147 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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Past Questions

147 questions

Question 1 of 20 147 total questions

Question 41

waec 1997

In which of the following do the goods become the property of the buyer on the payment of first installment

AHire-purchase

BDeferred payment

CLeasehold

DCash with order

EForward trading

View Explanation & Discuss

Question 42

waec 1997

Which of the following is a disadvantage of credit transaction?

Aincreases turnover

Bfacilitates the sale of durable goods

Cencourages the habit of saving

Dencourages bad debt

Eenables consumers to enjoy goods without immediate payment

View Explanation & Discuss

Question 43

waec 1997

One of the characteristics of a debenture is that

Ait yields a fixed rate of dividends

Bit has no redemption date

Cit yields a fixed rate of interest

Dits holder has a voting right

Ethe holder bears more risk than others

View Explanation & Discuss

Question 44

waec 1997

The services rendered by Nigerian Airways to foreign companies are part of Nigeria's

Avisible exports

Bvisible imports

Cinvisible exports

Dinvisible imports

Eentreport trade

View Explanation & Discuss

Question 45

waec 1997

Who among the following comes first in the channel of distribution?

AConsumer

BRetailer

CConsignor

DManufacturer

EWholesaler

View Explanation & Discuss

Question 46

waec 1997

Who among the following is not an agent?

ABroker

BFactor

CJobber

DManufacturer's representative

EAunctioneer

View Explanation & Discuss

Question 47

waec 1997

Division of labour often results in

Aa decrease in production

Ban increase in production

Cwaste of time

Duneconomic use of tools

Egreater craftsmanship

View Explanation & Discuss

Question 48

waec 1997

The rebate given to the retailer by the wholesaler to enable him make profit is known as

Acommission

Bmark-up

Ctrade discount

Dcash discount

Ecredit guarantee

View Explanation & Discuss

Question 49

waec 1997

Which of the following functions of the wholesaler helps to stabilize prices

AFinancing

BAdvice to retailers

CProvision of credit

DAdvertising

EWarehousing

View Explanation & Discuss

Question 50

waec 1997

Which of the following is not a source of capital to a partnership?

ABuying on credit

BPloughed back profit

CBorrowing

DShares

EPersonal savings

View Explanation & Discuss

Question 51

waec 1997

An overdraft can only be granted to the holder of a

Afixed deposit

Bsavings deposit

Cloan account

Dcurrent account

Edeposit account

View Explanation & Discuss

Question 52

waec 1997

Commerce developed as a result of

Aspeculation

Bcompetition

Cspecialization

Dimportation

Eexportation

View Explanation & Discuss

Question 53

waec 1997

Which of the following is the clearing house for all the banks in the country?

AThe Federal Mortgage Bank of Nigeria

BThe Nigerian Industrial Development Bank

CThe Central Bank of Nigeria

DThe Nigerian Bank for Commerce and Industry

EThe National Bank of Nigeria

View Explanation & Discuss

Question 54

waec 1997

If Ade issues a Union Bank cheque to Chukwu, the Union Bank is the

Adrawee

Bpayee

Cdrawer

Dacceptor

Ecreditor

View Explanation & Discuss

Question 55

waec 1997

An association that mobilizes the savings of members and channels them to needy members is known as

AConsumer Co-operative

BProducer Co-operative

CThrift and Credit Co-operative

DMulti-purpose Co-operative

ETrade Union

View Explanation & Discuss

Question 56

waec 1997

The fastest means of sending a printed message from Lagos to London is through

Aaeroplane

Btelephone

Ccablegram

Dtelex

Ecourier

View Explanation & Discuss

Question 57

waec 1997

Extractive occupation is an example of

Aconstruction industry

Bmanufacturing industry

Ctertiary industry

Dprimary industry

Esecondary industry

View Explanation & Discuss

Question 58

jamb 1997

Use the conversation below to answer the question below;

MUSA: Taiwo why are you in business?

TAIWO: To optimize profit, provide quality products, and discharge my social responsibilities. What of you, Okon and Kalu

OKON: I am in business to cater to the needs of the consumers at all costs.

KALU: I am in business to make a profit, provided quality products at reasonable prices, and establish a good reputation for myself.

The businessman with the best business objectives is ------------------------

AOkon

BTaiwo

CKalu

DMusa

View Explanation & Discuss

Question 59

jamb 1997

Sudden technology changes can have the effect of making

Aa company's management style ineffective

Ba company's product obsolete

Cthe control menchanism difficult to implement

Dthe motivational factors in the company difficult to monitor

View Explanation & Discuss

Question 60

jamb 1997

The existing system of government and the administrative sub-division of a country which affect the operation of business in the country is described as

Aeconomic environment

Blegal environment

Cpolictical environment

Dsocial environment

View Explanation & Discuss

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