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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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1,707 questions

Question 1 of 20 1,707 total questions

Question 491

jamb 2009

The manufacturers' Association of Nigeria is an example of a?

Alabour union

Bpressure group

Cconglomerate

Dcartel

View Explanation & Discuss

Question 492

jamb 2009

A body established to protect the interest of members against the exploitation of retail traders and manufacturers is the?

Awholesalers' association

Bconsumers association

Cgovernment agency

Dworkers' union

View Explanation & Discuss

Question 493

jamb 2009

if a firm has a turnover of N50 000 and the cost of goods sold is N40 000, what is the percentage of gross profit on sale?

A30.5%

B20.5%

C20.0%

D10.0%

View Explanation & Discuss

Question 494

jamb 2009

The circulating capital of a business enterprise is classified into?

Acash, work-in-progress and debtors

Bcash,vehicles, land and buildings

Cdebtors , stock of raw materials and fittings

Dpre-payments, debtors and equipment

View Explanation & Discuss

Question 495

jamb 2009

The financial instrument that entitles the holder to receive dividend and capital gains is a?

Ashare

Bbond

Cbill of exchange

Dtreasury bill

View Explanation & Discuss

Question 496

jamb 2009

The type of partnership in which all partners are jointly liable in bearing risk is?

Alimited partnership

Bpartnership-at-will

Cordinary partnership

Dindustral partnership

View Explanation & Discuss

Question 497

jamb 2009

Partnerships are most effective where?

Athe partners are family friends

Bprofessionals are involved

Cmembers can easily raise enough capital

Dgovernment regulations are favorable

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Question 498

jamb 2009

In a public limited liability company, planning is carried out by?

Athe chairman of the board

Bthe board of directors

Cshareholders

Demployees

View Explanation & Discuss

Question 499

jamb 2009

One of the major problems of a sole proprietor is sourcing for?

Araw materials

Blabour

Cmachineries

Dfunds

View Explanation & Discuss

Question 500

jamb 2009

Warehousing is important to manufacturers because it helps to?

Aimprove the quality of goods

Bproduce goods in advance

Cmeet the demand of customers

Ddetermine input rquirements

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Question 501

jamb 2009

One major advantage of transportation to a business is to?

Aextend the firm's market coverage

Bensure that goods are produced faster

Cprocure raw materials cheaply

Densure the quality of products

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Question 502

jamb 2009

The most important reason for the existence of insurance business is to?

Aprevent the occurrence of any loss

Bspread losses to all covered participants

Cprovide for the replacement of facilities

Dencourage individuals to save

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Question 503

jamb 2009

A risk that can be estimated and calculated to be compensation is?

Aa delivery risk

Ban insurable risk

Ca credit risk

Da systematic risk

View Explanation & Discuss

Question 504

jamb 2009

The principle of insurance which entitles an insurance company to take any advantage due to the insured after full indemnity is?

Acontribution

Bsubrogation

Cpromiate cause

Dutmost good faith

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Question 505

jamb 2009

The transmission of telephone services from one country to another is facilitated by?

Acommunication satelite

Binternational facility

Cinterconnectivity

Dinternet services

View Explanation & Discuss

Question 506

jamb 2009

In which of the following will the numbers of words used determine the cost of the message sent?

ATelephone

BTelegram

CE-mail

DTelex

View Explanation & Discuss

Question 507

jamb 2009

The central bank differs from commercial banks because it?

Arenders service to customers

Bcarries out foreign exchange transactions

Cissues currencies

Ddiscount bills

View Explanation & Discuss

Question 508

jamb 2009

One of the facilities enjoyed by a current account holder is?

Aa dividend

Ba bonus

Can overdraft

Dinterest on deposits

View Explanation & Discuss

Question 509

jamb 2009

A collective term for advertising, personal selling and publicity is?

Aexhibition

Bpromotion

Ctrade fair

Dmerchandizing

View Explanation & Discuss

Question 510

jamb 2009

Billboards and posters are forms of?

Aelectronic media

Bprint media

Coutdoor media

Dwindow display media

View Explanation & Discuss

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