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.

96 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2
Download PHP app Ask a Question Check Syllabus Past Question Videos Topic Video Lessons

Take a test

Past Questions

96 questions
Question 1 of 16 96 total questions
Question 41
jamb 2011

The purchase of goods under the CWO system of payment implies that?

Amoney must be enclosed when ordering
Bpayment must be made on delivery
Cpayment must be made within few days
Dcash must be paid on the spot
View Explanation & Discuss
Question 42
jamb 2011

The price quoted which includes the cost of insurance, freight and all delivery charges to the importer's warehouse is?

AFree Alongside Ship
BFranco
CFree On Board
DFree On Rail
View Explanation & Discuss
Question 43
jamb 2011

The document which can be exchange for a bill of lading is?

Afreight note
Bmate receipt
Cexport invoice
Dship report
View Explanation & Discuss
Question 44
jamb 2011
A document that indicates obligation that is transferable by delivery and endorsement is a?
Abill of lading
Bbill of exchange
Cdocumentary evidence
Dnegotiable instrument
View Explanation & Discuss
Question 45
jamb 2011

The three components of a country's balance of payments are?

Acurrent account, capital account and monetary movement account
Bcapital account, trade account and business record
Csales account, profit and loss account and capital account
Dmonetary movement account, trade account and sales ledger
View Explanation & Discuss
Question 46
jamb 2011

Balance of payment problems arise if a country's?

Aexports is more than imports
Bimports is more than exports
Ccurrency devaluation
Dinvisible exports is more than visible exports
View Explanation & Discuss
Question 47
jamb 2011

The main frame of selling directly to the consumers by manufacturers is to?

Areduce transportation cost
Bmake contact with individual consumers
Cdiscourage the activities of middlemen
Dmaximize profit margin
View Explanation & Discuss
Question 48
jamb 2011

One of the functions of a retailer is the?

Afinancing of production activities
Bprovision of credit facilities to relations
Cprovision of jobs for customers
Dbreaking of bulk
View Explanation & Discuss
Question 49
jamb 2011

An individual that links the producer with the retailer is?

Aan agent
Ba wholesaler
Can entrepreneur
Da principal
View Explanation & Discuss
Question 50
jamb 2011
Which of the following is a limitation of division of labour?
ADecline in craftmanship
BMonotony of work
CReduction in output
DReduction in labour force
View Explanation & Discuss
Question 51
jamb 2011

Resources obtained from the extractive sector that are transformed into finished products are examples of?

Aprimary production
Btertiary production
Cdirect production
Dsecondary production
View Explanation & Discuss
Question 52
jamb 2011

The creation of goods and services to satisfy human wants is referred to as?

Amanufacturing
Bcommercialization
Cproduction
Dentrepreneurship
View Explanation & Discuss
Question 53
jamb 2011

Service rendered to the public is provided by?

Agovernement
Bcivil servants
Cprofessionals
Ddomestic servants
View Explanation & Discuss
Question 54
jamb 2011

An oil exploration company is engaged in?

Atertiary production
Bconstructive occupation
Cextractive occupation
Dsecondary production
View Explanation & Discuss
Question 55
jamb 2011

The three main classification of occupation are?

Aconstruction, trade and services
Bmanufacturing, industry and services
Cfarming, banking and trading
Dindustry, commerce and services
View Explanation & Discuss
Question 56
jamb 2011

The most important function of commerce is in?

Aenhancing business relationships
Bhelping people to improve their profits
Cfacilitating exchange among individuals and firms
Dassisting trade through banking and insurance
View Explanation & Discuss
Question Navigator
Current
MathsFaculty