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 671
jamb 2014

The coming together of a manufacturing business with a firm that markets its products is

Abackward integration
Ba consortium
Cforward integration
Da syndicate
View Explanation & Discuss
Question 672
jamb 2014

The major aim of establishing a public corporation is to

Aestablish a monopoly
Bprovide essential services
Cprovide employment opportunities
Dencourage specialization
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Question 673
jamb 2014

The deliberate effort geared towards discarding some cargoes in order to lighten the vessel is

Acaveat emptor
Buberrimae fidei
Cdemurrage
Djettison
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Question 674
jamb 2014

The distribution of petroleum products in Nigeria is through

Arail
Broad
Csea
Dair
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Question 675
jamb 2014

A trader who experienced loss through fire can be restored by

Aan insurance company
Ba trade association
Cthe bank
Dan advertising agency
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Question 676
jamb 2014

The insurance principle that allows an insurance company to take over the rights of the insured once he has been compensated is

Aindemnity
Bproximate cause
Cutmost good faith
Dsubrogation
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Question 677
jamb 2014

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

Asubrogation
Bproximate cause
Cuberrimae fidei
Dcontribution
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Question 678
jamb 2014

Insurance against burglary is an example of

Aindemnity insurance
Bfidelity guarantee insurance
Cnon-insurable risk
Dnon-indemnity insurance
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Question 679
jamb 2014

Endowment policy in insurance business is an aspect of

Aaccident insurance policy
Bfidelity guarantee insurance policy
Cmotor vehicle insurance policy
Dlife assurance policy
View Explanation & Discuss
Question 680
jamb 2014

Tourists with no fixed address in a town may receive their letters from post office through a

Aposte restante
Bparcel post
Cprivate mail bag
Drecorded delivery
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Question 681
jamb 2014
A carton of noodles valued at #2,000 was invoiced at #200 only.The accounting procedure to correct this error is to issue
Aan invoice for #200
Ba debit note for #2,00
Ca credit note for #1,800
Da debit note for #1,800
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Question 682
jamb 2014

In response to an inquiry from a customer, a wholesaler is expected to send back

Aa consignment note
Ban order
Ca qoutation
Dan advice note
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Question 683
jamb 2014

A document recording the transactions of an organization with its customer for a specified period which normally shows the indebtedness of one to the other is a

Astatement of account
Bconsular invoice
Cproforma invoice
Dstatement affairs
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Question 684
jamb 2014

The role of customs and excise authority includes the

Acontrol of the flow of goods in and out of the country
Bcontrol of security agents within and out of the borders
Cprovision of dockyards for ship repairs and maintenance
Dprovision of transport system to facilitate imports and exports
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Question 685
jamb 2014

The document submitted to the customs authority when full description of imported goods is not provided is

Aa bill of sight
Ban invoice
Can indent
Da bill of entry
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Question 686
jamb 2014

The document issued by a port authority for goods deposited is a

Abill of lading
Bbill of sight
Cconsular invoice
Dwarehouse warrant
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Question 687
jamb 2014

To eliminate middlemen, there should be a retail outlet such as

Aproducer co-operative
Bconsumer co-operative
Cmultiple shop
Ddepartmental store
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Question 688
jamb 2014

Mrs Jones who lives in the riverine community of Rivers State makes her living through crabbing and fishing . This type of occupation she is in is

Acommercial
Bmanufacturing
Cservice
Dextractive
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Question 689
jamb 2014

One of the major determinants of the volume of production is

Athe market size
Bthe availability of banks
Csex distribution
Dgovernment policy
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Question 690
jamb 2014

An important feature of land is that it

Ahas an elastic supply
Bis an active factor of production
Cis heterogenous in nature
Dis subject to returns to scale
View Explanation & Discuss
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