Classroom

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.

147 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

Select subject

Download PHP app Ask a Question Check Syllabus Past Question Videos Topic Video Lessons

Take a test

Custom CBT

Create and set up a CBT environment with your preferred subjects.

JAMB CBT Simulator

Practice JAMB CBT with real UTME past questions in CBT format.

WAEC CBT Practice 2026 Simulator

CB-WASSCE styled past question practice.

NECO CBT Practice 2026 Simulator

SSCE & GCE styled past question practice.

Past Questions

147 questions

Question 1 of 20 147 total questions

Question 61

jamb 1997

A close indent is an instrument to an agent to

Aorder goods from a particular manufacturer

Border goods from any manufacturer

Csell gods to any firm

Dsell goods to a certain firm

View Explanation & Discuss

Question 62

jamb 1997

Stevedores as a term in foreign trade means men who

Ainspect goods in ships

Bimport goods by ships

Ccollect duties in ships

Dload and unload ships

View Explanation & Discuss

Question 63

jamb 1997

Excise duties are paid on goods that are

Aimported into the country

Bmanufactured within the company

Cexported to other clonutries

Dkept in bond warehouses

View Explanation & Discuss

Question 64

jamb 1997

In foreign trade, document of title is known as

Abill of lading

Bbill at sight

Ccertifiate of origin

Ddeclaration form

View Explanation & Discuss

Question 65

jamb 1997

The main aim of selling directly to consumers by manufactures is to

Adis courage the activities of middlemen

Bmake contacts with comsumers

Celiminate transportation cost

Dmaximize the profit margin

View Explanation & Discuss

Question 66

jamb 1997

The cost of transporting goods to consumers called

Acarried inward

Bcarried forward

Ccarried paid

Dcarried outward

View Explanation & Discuss

Question 67

jamb 1997

The turnover of firm maybe affected by

Athe demand for its product

Bthe cost of its goods sold

Cits closing stock

Dits net assets

View Explanation & Discuss

Question 68

jamb 1997

A public limited liability company having a nominal capital made up of 200 000 ordinary shares of 50k each decided to issued 50% of it to the public.

What is the authorized capital?

AN40 000

BN50 000

C100 000

D200 000

View Explanation & Discuss

Question 69

jamb 1997

The total amount that a company is allowed to raised according to its memorandum of association is known as

Aissued capital

Bauthorized capital

Ccalled-up capital

Dpaid-up capital

View Explanation & Discuss

Question 70

jamb 1997

The form of business financing which involves pledging of a specific asset is

Adebenture

Bmortgage

Cloan

Dbond

View Explanation & Discuss

Question 71

jamb 1997

Leasing is the right to use asset for an agreed period in return for

Aprofit

Binterest

Cwages

Drents

View Explanation & Discuss

Question 72

jamb 1997

A term which indicates that share is temporarily suspended is

Aex-dividend

Bcum-dividend

Cbond

Dstock

View Explanation & Discuss

Question 73

jamb 1997

One type of investment that have a variable income is

Adebentures

Bpreferred shares

Cgovernment bonds

Dordinary shares

View Explanation & Discuss

Question 74

jamb 1997

In which of the following circumstances is a court order NOT necessary for the winding up of a company?

Asupension of businesss for one year

Bspecial resolution of members

Creduction in the number of members below the legal minimum

Dinability to pay it debts

View Explanation & Discuss

Question 75

jamb 1997

When it became necessary to liquidate a company, the frist step to be taken is the appointment of

Aa receiver

Ban auditor

Can accountant

Dliquidator

View Explanation & Discuss

Question 76

jamb 1997

The major objective of corporate mergers is to

Aminimize the effects of taxation

Bincrease financial advantage

Cfaclitate profit maximization

Denhance economies of scale

View Explanation & Discuss

Question 77

jamb 1997

The business organization in which shareholder's have equal vote is

Asole pprietorship

Bpartneeship

Cco-operative

Dlimited liability company

View Explanation & Discuss

Question 78

jamb 1997

Use the conversation below to answer the question below;

MUSA: Taiwo why are you in business?

TAIWO: To optimize profit, provide quality products, and discharge my social responsibilities. What of you, Okon and Kalu

OKON: I am in business to cater to the needs of the consumers at all costs.

KALU: I am in business to make a profit, provided quality products at reasonable prices, and establish a good reputation for myself.

The businessman that may end up not discharging his social responsibility is--------------------

AMusa

BOkon

CTaiwo

DKalu

View Explanation & Discuss

Question 79

jamb 1997

Partnership are most suitable where

Athe partners are family friends

Bprofessionals are involved

Cmembers can easily rasie enough capital

Dgovernment regulations are favourable

View Explanation & Discuss

Question 80

jamb 1997

The object of the business are determined by the

Aworkers

Bgovernment

Csociety

Dpromoters

View Explanation & Discuss

Question Navigator

Current

Commerce Past Questions

Take a test

Custom CBT

JAMB CBT Simulator

WAEC CBT Practice 2026 Simulator

NECO CBT Practice 2026 Simulator

Past Questions

Question Navigator

MathsFaculty