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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.

144 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2
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Past Questions

144 questions
All JAMB WAEC NECO CUSTOM
All years 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989
Question 1 of 20 144 total questions
Question 61
jamb 2001
A factor necessary for siting a warehouse is nearness to
Araw materials
Blabour
Ccapital
Dconsumers
View Explanation & Discuss
Question 62
jamb 2001

Warehousing is a productive function because it increase the

Aquantity of goods
Butility of goods
Cquality of goods
Dprice of goods
View Explanation & Discuss
Question 63
jamb 2001

Bank Giro is a method of settling debt from a

Acustomer to a bank
Bbank to customer
Ccustomer to another
Dbank to another
View Explanation & Discuss
Question 64
jamb 2001

If Mr. Bacus fulfills his promise, he will be entitled to a cash discount of?

AN2,760
BN3,000
C6,500
D9,500
View Explanation & Discuss
Question 65
jamb 2001

The trade discount receivable by Mr Bacus is

AN4,500
BN7,500
CN10,500
DN12,000
View Explanation & Discuss
Question 66
jamb 2001
The major procedures in the purchase and sale of goods are enquiry
Aquotation, order and invoice
Bplacement, order and invoice
Cbargin, order and invoice
Dorder, sale, and invoice
View Explanation & Discuss
Question 67
jamb 2001

The balance of payments of countries is

Aa record of imports and export
Ba systematic record of transaction among countries at a given time
Cthe current and the capital accounts and their payments
Dthe trade relationships and payment among nations
View Explanation & Discuss
Question 68
jamb 2001
A pro-forma invoice is sent to inform a buyer about the
Aquantity of goods
Bprices of goods
Cdesignation of goods
Dquality of goods
View Explanation & Discuss
Question 69
jamb 2001

The merchant wholesaler is referred to as

Adel-credere agent
Ba broker
Crack jobber
Da factor
View Explanation & Discuss
Question 70
jamb 2001
One of the reasons why wholesaling must continue is that?
Athe tax paid by wholesalers on their profit enhances national revenue
Bby creating artificial scarcity, the wholesaler is enhencing competition
Cthe wholesaler provides technical advice to the retailer
Dthe gap between manufacturers and retailers is reduce byn wholesalers
View Explanation & Discuss
Question 71
jamb 2001
The capital owned is
AN2,740
BN 1,350
CN1,150
DN570
View Explanation & Discuss
Question 72
jamb 2001
The difference between total current assets and total current liabilities of a business is known as
Aquick ratio
Bliquidity ratio
Cworking capital
Dcirculating capital
View Explanation & Discuss
Question 73
jamb 2001

(i) Personal Savings
(ii)Retained Earnings
(iii)Accrued taxes
Which of the items above constitute internal sources of financing for companies?

Ai and ii
Bi and iii
Cii and iii
Di, ii and iii
View Explanation & Discuss
Question 74
jamb 2001
The financial instrument for borrowing in which the collateral is usually more than the amount borrowed is?
Atrust certificate
Bdetachable warrant
Cmortage bond
Dconverttible securities
View Explanation & Discuss
Question 75
jamb 2001
The capital employed is
AN 1,000
BN 1,370
CN 140
DN50
View Explanation & Discuss
Question 76
jamb 2001
Entrusting the management of a company to the courts to enable the settlement of the company’s obligations is an indication of?
Adistress
Bclosure
Cbankruptcy
Dliquidation
View Explanation & Discuss
Question 77
jamb 2001
At the collapse of a business enterprise, the person appointed to dispose of all assets is called
Aa broker
Ban auctioneer
Ca liquidator
Dan auditor
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Question 78
jamb 2001
A form of ownership which exploits the strength of one partner to remedy the weakness of the other is a?
Ajoint partnership
Bcooperative
Ccorperation
Djoint venture
View Explanation & Discuss
Question 79
jamb 2001
One major advantage of a credit and thrift cooperative is that
AIt can approach government for loan
BIt encourages saving habit
Cthere are no legal restrictions
Deach member has a vote during meetings
View Explanation & Discuss
Question 80
jamb 2001
The partner that only contributes part of the capital used in the formation and running of a business is known as?
Aa passive partner
Ban active partner
Ca dormant partner
Da nominal partner
View Explanation & Discuss
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