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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.

4,313 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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4,313 questions

Question 1 of 20 4,313 total questions

Question 611

jamb 2015

The principle of subrogation stated that

AAn insured person should be indemnified to the time of the amount insured

BAn insurance company constant in lace of the insured in dealing with third party.

COnly a person who is likely to suffer loss hold take out an insurance cover

DThere must be accuse connection between the actual loss suffered and risk insure

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Question 612

jamb 2015

Musa obtains wool from his sheep, spins and transform it into cloth which he sells to consumers, this is a form of

AVertical integration

BHorizontal integration

CForward Integration

DBackground integration

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Question 613

jamb 2015

The term 4 net 7 on an invoice means that

A4% surcharge will be made unless payment is made within seven days

B4% discount will be allowed on the price charged only if the good are bought within seven days

C4% discount will be allowed on the price charge if payment is made after seven days

D4% discount will be allowed on the price charged if payment is made price charged if payment is made price charged if payment is made within seven days.

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Question 614

jamb 2015

The business environment that takes into cognizance the age distribution ethnic mix and educational level of the consumer is

ANatural Environment

BCultural environment

CEconomic environment

DDemographic Environment

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Question 615

jamb 2015

The document issued to a port authority when a good are deposited is a

Adock warrant

BDock landing account

CBall of sight

DBill of landing note

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Question 616

jamb 2015

A bond which attracts interest but leaves the capital repaid is referred to as

AA redeemable bond

BAn irredeemable bond

CA development bond

DA long-term loan

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Question 617

jamb 2015

Use the information below to answer this question.

Mammy Plc, whose nominal capital is made up of 5,000,000 ordinary shares at 50K each, decide to offer 80% of it to the public and realized only 50% of the amount due.

what is the company authorized share authorized share capital?

AN4,000,000

BN5,000,000

CN7,500,000

DN2,500,000

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Question 618

jamb 2015

The circulating capital of a business enterprise is classified into

ACash, work-in-progress and debtors

BCash, Vehicles, land and building

Cdebtors, stocks of raw materials and fitting

DPrepayments, debtors and equipment

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Question 619

jamb 2015

A type of long-term loan granted to companies with fixed interest rate as well as with redeemable and irredeemable features is referred to as projects.

Adebenture

Ba bond

Ca term loan

Dan overdraft

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Question 620

jamb 2015

The difference between a private are public limited liability company is that the former

AIs unable to declare and pay dividend.

BHas a higher number of share holder

CIs unable to offer shares to the public.

Dpays higher salaries to its member

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Question 621

jamb 2015

The external environmental factors that affect a business cooperation are

AEconomic, Social and legal

BPolitical, Culture and Labour

CCompetition, Labour and Political

DCompetition, Industry and Product.

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Question 622

jamb 2015

The forum for the selling and buying of securities of small and medium companies is called.

ASecurities and Exchange Commission

BSecond tier Security Market

CForeign exchange Market

DSecond tier foreign Exchange market

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Question 623

jamb 2015

The development of commercial activate in Nigeria was harnessed by

AA good storage system

BAvailability of market

CIncrease in production

DActivities

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Question 624

jamb 2015

In the permanent storage device, DASD means

AData Access Systems Device

BDirect Access Systems Device

CData Access Storage Device

DDirect Access Storage Device

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Question 625

jamb 2015

The measure of independence available to the individual business units that come together is the main difference between

Avertical and horizontal integration

BMergers and Acquisition

CConsortium and imagination

DTrust and Cartel

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Question 626

jamb 2015

Resources commited into the production of relatively few commodities is known as

AProduction

BSpecialization

CCreation manufacturing

DManufacturing

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Question 627

jamb 2015

An agent who takes title to goods and has authority to buy and sell on behalf of another is

AA jobber

BA broker

CA factor

DAn auctioneer

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Question 628

jamb 2015

A memorandum of association is applicable to a

Apartnership

Bsole trader

Cjoint stock company

Dpublic corporation

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Question 629

jamb 2015

The body regulating the sale and purchase of shares in Nigeria is the

ACorporate affair commission

BSecurities and exchange commission

CSecurities and exchange tribunal

DNigerian stock exchange

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Question 630

jamb 2015

In a typical manufacturing enterprises, the line function is performed by the

APublic relations department

BMarketing Department

CEstate or Properties Department

Dlegal Department.

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