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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.

2,221 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2
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Past Questions

2,221 questions
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Question 1 of 20 2,221 total questions
Question 651
waec 2000

When a customer writes a cheque in his name and withdraws cash with it from his account he is both the?

Adrawee and the payee
Bdrawer and the payee
Cdrawee and the drawer
Ddrawer and the payee
View Explanation & Discuss
Question 652
waec 2000
Which of the following is not a financial institution?
ACommodity Board
BInsurnace company
CClearing house
Dstock exchange
View Explanation & Discuss
Question 653
waec 2000
A bill of exchanged on maturity is allowed?
Aseven days of grace
Bfive days of grace
Cfour days of grace
Dthree days of grace
View Explanation & Discuss
Question 654
waec 2000
Which of the following is not a means of payment in foreign trade?
ATelegraphic money order
BSpecially crossed cheque
CLetters of credit
DDebit transfer
View Explanation & Discuss
Question 655
waec 2000
Which of the following refers to a price reduction based on the size of order?
ACash account
BTrader discount
CSeasonal discount
DCash on discount
View Explanation & Discuss
Question 656
waec 2000
The abbreviation phrase E & OE is usually printed on?
Aan invoice
Ba cheque
Ca delivery note
Da debit note
View Explanation & Discuss
Question 657
waec 2000

Which of the following is sent in reply to a letter of enquiry?

AQuotation
BOrder
CConsumer invoice
DAdvice note
View Explanation & Discuss
Question 658
waec 2000
The production of good in anticipation of demand is possible because of the existence of?
Apackaging
Badvertising
Cwarehousing
Dbranding
View Explanation & Discuss
Question 659
waec 2000
A merchant who wishes to order goods from a foreign country sends?
Aan invoice
Ban indent
Can advice note
Da credit note
View Explanation & Discuss
Question 660
waec 2000
A merchant who wishes to order goods from a foreign country sends?
Aan invoice
Ban indent
Can advice note
Da credit note
View Explanation & Discuss
Question 661
waec 2000
Which of the following is not a function of a retailer?
ASupplying goods to final consumers
BBulk breaking
CGiving information to the wholesaler
DBranding and packaging of goods
View Explanation & Discuss
Question 662
waec 2000

When a country's total visible and invisible exports are more than its visible and invisible imports, it has?

Afavourable balance of payments
Bfavourable balance of trade
Cunfavourable balance of trade
Dunfavourable balance of payment
View Explanation & Discuss
Question 663
waec 2000

A refund of the duty collected on goods imported and processed for re-export is?

Aexcise duty
Bexcise draw back
Cpreferential duty
Dvalue added tax
View Explanation & Discuss
Question 664
waec 2000
Which of the following is not contained in an advice note?
ATypes of goods
BPrice of goods
CDate of dispatch
DMeans of dispatch
View Explanation & Discuss
Question 665
waec 2000
A consignment note is used when?
Agoods are wrapped and labelled for easy identification
Bgoods are dispatched to agent through transporters
Cdamaged goods are being returned
Dthere is over-invoicing
View Explanation & Discuss
Question 666
waec 2000

A retail outlet which sells a fairly narrow range of goods with a number of branches in different towns is a?

Asupermarket
Bmail-order shop
Cmobile shop
Dmultiple shop
View Explanation & Discuss
Question 667
waec 2000
A debenture is mortgaged when it is?
Anot secured on the the assets of a company
BSecured on the assets of a company
Cirredeemable
Dredeemable
View Explanation & Discuss
Question 668
waec 2000
Which of the following is true about cumulative preference shares?
AUnpaid dividends are carried forward
BShareholders can secure capital refund on demand
CShareholders are entitled to further share of profit
DDividends are paid into a special account
View Explanation & Discuss
Question 669
waec 2000
Which of the following is true about cumulative preference shares?
AUnpaid dividends are carried forward
BShareholders can secure capital refund on demand
CShareholders are entitled to further share of profit
DDividends are paid into a special account
View Explanation & Discuss
Question 670
waec 2000
The total value of fixed and current assets is?
Aworking capital
Bcapital employed
Cfixed capital
Dcapital owned
View Explanation & Discuss
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