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.

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

128 questions
Question 1 of 20 128 total questions
Question 51
jamb 2023

The government agency involved in issuing of export licences is

ANigeria Port Authority
BCustoms and Excise Authority
CNigeria Export Promotion Council
DNigeria Export Processing Zone
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Question 52
jamb 2023

A business organization that exploits the capabilities of a member to remedy the weakness of another is a

Ajoint venture
Bpartnership
Cnominal partnership
Dcooperative
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Question 53
jamb 2023

One of the functions of a retailer is the

Abreaking of bulk
Bprovision of credit facilities to relations
Cprovision of jobs for customers
Dfinancing of production activities
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Question 54
jamb 2023

An agreement that is enforceable in law is

Aa contract
Ban acceptance
Can offer
Da consideration
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Question 55
jamb 2023

The process of converting a non-profit making organisation to a profit-making business is

Acommercialisation
Bderegulation
Cindigenisation
Dprivatisation
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Question 56
jamb 2023

A bill of exchange already accepted can be discounted by the holder in

Athe central bank
Bhis bank
Cat least two banks
Dany bank
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Question 57
jamb 2023

Which of the following attracts only interest but leaves the capital unpaid?

Aa development bond
Ba long term loan
Can irredeemable bond
Dredeemable bond
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Question 58
jamb 2023

One disadvantages of advertising is that it

Acould be misleading
Bdecreases sales
Creduces profit
Dcauses over stocking
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Question 59
jamb 2023

The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is

Auberrimae fidei
Bsubrogation
Ccontribution
Dproximate cause
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Question 60
jamb 2023

A factor necessary for siting of a warehouse is nearness to

Alabour
Bconsumers
Ccapital
Draw materials
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Question 61
jamb 2023

I. Its unlimited nature
II. The number of partners
III. The withdrawal of a major of partner
IV. The bearing of risk

Which of these is both merit and demerit in partnership?

AIII and IV
BI only
CII only
DI and II
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Question 62
jamb 2023

An individual that links the producer with the retailer is

Aan agent
Ba wholesaler
Ca principal
Dan entreprenuer
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Question 63
jamb 2023

The activity which entails buying of goods in bulk and selling in small quantities to retailers is

Awholesaling
Bretailing
Cmerchandising
Dassembling
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Question 64
jamb 2023

Which of the following legislation aims primarily at the protection of consumers?

ACompany's Act
BPartnership Act
CTrade Description Act
DLaw of contract
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Question 65
jamb 2023

Parts payments made on alloted shares by subscribers is usually the

Aauthorized capital
Bsubscribed capital
Ccalled -up capital
Dissued capital
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Question 66
jamb 2023

The type of letters that are delivered through the normal mail or by airmail express service is referred to as

Aexpress letters
Bregistered letters
Cinland letters
Dairmail letters
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Question 67
jamb 2023

A major objective of all business resources is

Ahuman relation
Bprofit making
Cpublic relation
Dprofit sharing
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Question 68
jamb 2023

The document that explains the types of shares available for sale to the public is

Aa prospectus
Ban invoice
Cclosed indent
Dan open indent
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Question 69
jamb 2023

Which of the following is not a veritable source of funds to a public limited liability company?

Aadvances and loans from bank
Binternally generated funds
Cgovernment financial grants
Dfunds from the sale of shares
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Question 70
jamb 2023

An agent who has to sell perishable goods without the prior authority of the owner becomes an agent by

Aestoppel
Bconduct
Cnecessity
Dratification
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