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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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Past Questions

4,313 questions

Question 1 of 20 4,313 total questions

Question 651

waec 2014

A person who gave his building as a security for loan is known as a

Atrustee

Bmortgagee

Cmortgagor

Dguarantor

View Explanation & Discuss

Question 652

waec 2014

A retail outlet with many branches all dealing in similar line of goods is described as a

Adepartment store

Bsupermarket

Cchain store

Dhypermarket

View Explanation & Discuss

Question 653

waec 2014

An insurance principle which prevents an insured from making profit when compensated is known as

Aproximate cause

Bindemnity

Cinsurable interest

Dutmost good faith

View Explanation & Discuss

Question 654

waec 2014

The term "fiduciary issue" means

Amoney issued without gold backing

Bmoney issued with gold backing

Cmoney issued as currency note

Dgold reserve

View Explanation & Discuss

Question 655

waec 2014

A system of sales where goods are sold to the highest bidder is known as

Acredit sale

Bhire purchase

Cclearance sale

Dauction sale

View Explanation & Discuss

Question 656

waec 2014

In the absence of the bill of lading, which of the following is used o clear the goods

ABill of sight

BDock warrant

CCertificate of Origin

DMate's receipt

View Explanation & Discuss

Question 657

waec 2014

Fidelity guarantee insurance will only cover

Acashier's fraud

Bdaylight robbery

Closs of profit

Dunpaid loan

View Explanation & Discuss

Question 658

waec 2014

The charge paid to a ship owner for the unused part of a ship is known as

Apenalty

Bdock dues

Cdead freight

Ddemurrage

View Explanation & Discuss

Question 659

waec 2014

The ratio between a country's exports and her imports prices is the

Abalance of trade

Bbalance of payments

Cterms of trade

Dexchange rate

View Explanation & Discuss

Question 660

waec 2014

"Net 3 months" on an invoice means the buyer will

Apay interest after 3 months

Bgets discount if he pays within 3 months

Cpay full invoice amount after 3 months

Dhave discount if he pays after 3 months

View Explanation & Discuss

Question 661

waec 2014

Which of the following is engaged in commercial occupation?

Aa brick layer

Ban engineer

Can insurance broker

Da barber

View Explanation & Discuss

Question 662

waec 2014

In a hire purchase contract, the customer becomes the legal owner of the goods by

Apaying the last installment

Bpaying the first installment

Ctaking possession of the goods

Dpaying half the purchase price

View Explanation & Discuss

Question 663

waec 2014

Shares, bonds, stocks and debentures traded on the stock exchange are collectively called

Acollaterals

Bcommodities

Cresources

Dsecurities

View Explanation & Discuss

Question 664

waec 2014

A price quotation which includes all the expenses involved in loading the goods into a ship is

AFree on Board (FOB)

BFree Alongside Ship (FAS)

CCost, Insurance, Freight (C.I.F)

Dex-ship

View Explanation & Discuss

Question 665

jamb 2014

The social responsibility factor of an organization is geared towards

Acontributing to the sustenance and development of its host community

Boperating without disrupting the very esssence of the environment

Ctackling the soci-economic problems of the state

Dmeeting the needs and demands of the shareholders

View Explanation & Discuss

Question 666

jamb 2014

A Digital Versatile Disk is an example of a

Atransmission control protocol

Bmicroprocessor

Cfile transfer protocol

Dcomputer storage device

View Explanation & Discuss

Question 667

jamb 2014

Which of the following computers can be used in weather forecast?

AHybrid computer

BDigital computer

CMainframe computer

DAnalog computer

View Explanation & Discuss

Question 668

jamb 2014

The three functional units of a modern computer are

Ainput, processor and output units

Bprocessor, FOTRAN and output units

Cblack box, output and input units

Dbasic, COBOL and output units

View Explanation & Discuss

Question 669

jamb 2014

A contract which is devoid of legal effect is

Avoid contract

Bunenforceable contract

Cvoidable contract

Dvalid contract

View Explanation & Discuss

Question 670

jamb 2014

The difference between a factor and a broker is that the former

Ais licensed to sell goods on auction

Bhas a lien on the goods he possesses

Cis not in possession of the goods

Dcannot sell in his own name

View Explanation & Discuss

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