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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.

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

150 questions
All JAMB WAEC NECO CUSTOM
All years 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989
Question 1 of 20 150 total questions
Question 41
waec 2000
Which of the following is not a means of payment in foreign trade?
ATelegraphic money order
BSpecially crossed cheque
CLetters of credit
DDebit transfer
View Explanation & Discuss
Question 42
waec 2000
Which of the following refers to a price reduction based on the size of order?
ACash account
BTrader discount
CSeasonal discount
DCash on discount
View Explanation & Discuss
Question 43
waec 2000
The abbreviation phrase E & OE is usually printed on?
Aan invoice
Ba cheque
Ca delivery note
Da debit note
View Explanation & Discuss
Question 44
waec 2000

Which of the following is sent in reply to a letter of enquiry?

AQuotation
BOrder
CConsumer invoice
DAdvice note
View Explanation & Discuss
Question 45
waec 2000
The production of good in anticipation of demand is possible because of the existence of?
Apackaging
Badvertising
Cwarehousing
Dbranding
View Explanation & Discuss
Question 46
waec 2000
A merchant who wishes to order goods from a foreign country sends?
Aan invoice
Ban indent
Can advice note
Da credit note
View Explanation & Discuss
Question 47
waec 2000
A merchant who wishes to order goods from a foreign country sends?
Aan invoice
Ban indent
Can advice note
Da credit note
View Explanation & Discuss
Question 48
waec 2000
Which of the following is not a function of a retailer?
ASupplying goods to final consumers
BBulk breaking
CGiving information to the wholesaler
DBranding and packaging of goods
View Explanation & Discuss
Question 49
waec 2000

When a country's total visible and invisible exports are more than its visible and invisible imports, it has?

Afavourable balance of payments
Bfavourable balance of trade
Cunfavourable balance of trade
Dunfavourable balance of payment
View Explanation & Discuss
Question 50
waec 2000

A refund of the duty collected on goods imported and processed for re-export is?

Aexcise duty
Bexcise draw back
Cpreferential duty
Dvalue added tax
View Explanation & Discuss
Question 51
waec 2000
Which of the following is not contained in an advice note?
ATypes of goods
BPrice of goods
CDate of dispatch
DMeans of dispatch
View Explanation & Discuss
Question 52
waec 2000
A consignment note is used when?
Agoods are wrapped and labelled for easy identification
Bgoods are dispatched to agent through transporters
Cdamaged goods are being returned
Dthere is over-invoicing
View Explanation & Discuss
Question 53
waec 2000

A retail outlet which sells a fairly narrow range of goods with a number of branches in different towns is a?

Asupermarket
Bmail-order shop
Cmobile shop
Dmultiple shop
View Explanation & Discuss
Question 54
waec 2000
A debenture is mortgaged when it is?
Anot secured on the the assets of a company
BSecured on the assets of a company
Cirredeemable
Dredeemable
View Explanation & Discuss
Question 55
waec 2000
Which of the following is true about cumulative preference shares?
AUnpaid dividends are carried forward
BShareholders can secure capital refund on demand
CShareholders are entitled to further share of profit
DDividends are paid into a special account
View Explanation & Discuss
Question 56
waec 2000
Which of the following is true about cumulative preference shares?
AUnpaid dividends are carried forward
BShareholders can secure capital refund on demand
CShareholders are entitled to further share of profit
DDividends are paid into a special account
View Explanation & Discuss
Question 57
waec 2000
The total value of fixed and current assets is?
Aworking capital
Bcapital employed
Cfixed capital
Dcapital owned
View Explanation & Discuss
Question 58
waec 2000

The coming together of two or more firms at different stages of production is?

Ahorizontal merger
Bvertical merger
Camalgamation
Dcartel
View Explanation & Discuss
Question 59
waec 2000

Which of the following is not a source of finance to a sole proprietor?

ATrade Credit
BOverdrafts
CDebentures
DLeasing of equipment
View Explanation & Discuss
Question 60
waec 2000
Which of the following can be defined as trade and aids to trade?
AAdvertising
BCommerce
CWholesaling
DRetailing
View Explanation & Discuss
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