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.

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

139 questions
Question 1 of 19 139 total questions
Question 61
jamb 2018

Which of the following has power to order withdrawal of a particular food item from circulation?

AFood and Drug Department of the Federal Ministry of Health
BFederal High Courts in Nigeria
CStandard Organization of Nigeria
DLocal Government Health Inspectors
View Explanation & Discuss
Question 62
jamb 2018

Bank overdraft as a short term source of fund is

AA current liability
BAn overdrawn account
CGrade to a newly opened account
DRepayable after more than a year
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Question 63
jamb 2018

The factors which critically determines the choice of occupation is

ASkill
BTraining
CAptitude
DInterest
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Question 64
jamb 2018

The board of directors of public enterprise is appointed by who?

AEmployees
Bmanagement
Cgovernment
Dshareholders
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Question 65
jamb 2018

A title, symbol, or design that distinguishes a company is called

ABrand name
BTrademark
Ccopyright
DPatent right
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Question 66
jamb 2018

The duties paid on goods produced locally is

AAd-valorem duty
Bexcise duty
Cexport duty
Dquota
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Question 67
jamb 2018

The Central Bank Monetary policy instrument by which it buys and sells securities is called

ABank rate
BCash reserve ratio
COpen market operation
DBank credit
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Question 68
jamb 2018

One of the disadvantages of rail transport is

AIt is not flexible
BIt carries bulky goods
CIt works at intervals
DCost of transportation is high
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Question 69
jamb 2018

From which of the following sources can partnership increase their capital?

ASales of shares
BAdmission of new partners
CDischarge of mortgage
DGrants from relatives
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Question 70
jamb 2018

One of these is a current asset

AFittings
BMachineries
CMotor vehicles
Dstock
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Question 71
jamb 2018

Which of the following functions is not performed by warehousing?

AStabilization of price
Bproduction ahead of demand
Ccreating scarcity of goods
Dstorage of goods
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Question 72
jamb 2018

What is a Quota?

ATax pad on goods produced within a country
BA physical restriction placed on quantity of goods that can be imported
CTax paid on goods produced outside a country
DBan on all imported goods
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Question 73
jamb 2018

In the law of contact, a counter offer operates as

AA contact
Ban acceptance
Ca rejection
Da consensus
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Question 74
jamb 2018

Privatization is

ATransfer of ownership from individual to government
BTransfer of ownership from government to stakeholders
CTransfer of ownership from government to individuals
DGovernment taking charge of all businesses
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Question 75
jamb 2018

Trade fairs in Nigeria are organized by

AMinistry of commerce and industry
BChambers of commerce
C
DManufacturer’s Association of Nigeria
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Question 76
jamb 2018

Which of the following is a verbal means of communication

ATelephone
BExpress mail
CBusiness reply services
Dtelex
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Question 77
jamb 2018

One of the major problems of a sole proprietor is sourcing for

AFunds
BLabour
CRaw materials
DMachineries
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Question 78
jamb 2018

Current account holders withdraw money through

ACredit card
BCheque
CTransfer
DWithdrawal form
View Explanation & Discuss
Question 79
jamb 2018

The act of selling in a foreign market at a price lower than the cost price is called

ADumping
Bhedging
Cfair trading
Dunder sale
View Explanation & Discuss
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