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.

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

131 questions
Question 1 of 11 131 total questions
Question 61
jamb 2019

Examples of Commercial occupation are all except___________

ABankers
BTraders
CInsurers
DGoldsmith
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Question 62
jamb 2019

All but one does not provide an Indirect Service?

ACustom Officers
BFamily Doctors
CCivil Servants
DLaw Makers
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Question 63
jamb 2019

In Nigeria, it is mandatory for all business enterprises to be registered with the________

AGovernment
BCorporate Affairs Commission
CAgent
DEnterprise
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Question 64
jamb 2019

In a law of contract, what is given in exchange for a promise to perform is_____

Aoffer
Bacceptance
Cwarranty
Dconsideration
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Question 65
jamb 2019

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital 5000
Net Profit 1000
Furniture 2000
Equipment 2900
Debtors 100
Stock 1000
Bank 500

 

From the above, calculate Current liabilities

A100
B6000
C600
D3000
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Question 66
jamb 2019

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital 5000
Net Profit 1000
Furniture 2000
Equipment 2900
Debtors 100
Stock 1000
Bank 500

 

From the above, calculate Fixed assets

 

A6500
B2000
C4900
D600
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Question 67
jamb 2019

Use the following information to answer this question.

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital 5000
Net Profit 1000
Furniture 2000
Equipment 2900
Debtors 100
Stock 1000
Bank 500

 

From the above, calculate Current assets


 

A1600
B1060
C1500
D600
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Question 68
jamb 2019

The process of winding up or bringing a company to an end is________

ADissolution
BLiquidation
CIntegrating
DMerger
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Question 69
jamb 2019

In the formation of a united liability company, the following documents are prepared except_______

AMemorandum of Association
BArticle of Association
CStatement of Nominal Capita
DProspectus
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Question 70
jamb 2019

One of the disadvantages of Sole Proprietorship is__________

AIt requires small operations
BIt involves small capital
CIt lacks specialization
DGrants from government
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Question 71
jamb 2019

A partnership may be automatically dissolved due to the following factors except________

ACourt verdict
BJoint decision
CAdmission of new partners
DBankruptcy of a partner
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