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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.

1,707 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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Past Questions

1,707 questions

Question 1 of 20 1,707 total questions

Question 771

jamb 1998

Enter pot trade is said to have taken place when goods are?

Aheld at the port payment of custom duty

Bsold in the ship under special regulation

Cimported and then re-export

Dkept for further processing before sales

View Explanation & Discuss

Question 772

jamb 1998

What document is required when a country imposes ad valorem import duties on goods?

AA mail transfer

BA shipping note

CA billb of lading

DA consular invoice

View Explanation & Discuss

Question 773

jamb 1998

A machine which enable s sales without the physical presence of a sales attendant is a

Acomputer machine

Bvending machine

Ctelex machine

Dfax machine

View Explanation & Discuss

Question 774

jamb 1998

If a firm's turnover is N15,000 and the cost of goods sold is N 10,000 What is the percentage of gross profit on sales?

A23.3%

B33.3%

C50.0%

D66.6%

View Explanation & Discuss

Question 775

jamb 1998

The form of capital which is easily transferred into the form desired is known as?

Aworking capital

Bliquid capital

Ccirculating capital

Dcapital employed

View Explanation & Discuss

Question 776

jamb 1998

Use the information above to answer this question

What is the ratio?

A2.95:1

B4.25:1

C4.75:1

D5,55:1

View Explanation & Discuss

Question 777

jamb 1998

Use the information Above to answer this question

What is the current ratio?

A4:1

B4.5:1

C5:1

D25.5:1

View Explanation & Discuss

Question 778

jamb 1998

A provision in the charter of a company which gives holders of common stock the first option to purchase additional issues of the firm's common stock is known the?

Apre-emptive right

Bshareholders right

Cex-dividend right

Dover-subscription right

View Explanation & Discuss

Question 779

jamb 1998

Which of the following statement is true of preferred stockholders?

AThey have no voting rights at annual general meetings

BThey first claim company asset before creditors

CThe have first claim to company asset after all debts have been settled

DThey share dividends equally with common shareholders

View Explanation & Discuss

Question 780

jamb 1998

Which of the following is an example of a conglomerate?

ANational Electric Power Authority

BUnited Africa Company Nigeria Plc

CThe Nigeria Railway Corporation

DFirst Bank of Nigeria Plc

View Explanation & Discuss

Question 781

jamb 1998

A source of capital to private limited companies is shares issued to

Athe public

Bselected persons

Cmembers of the borad of directors

Ddedicated members of staff

View Explanation & Discuss

Question 782

jamb 1998

Which of the statements below is true of Mr Abayomi?

AHe can assign his shares to another without consent of other partners

BHe cannot take part in the management of the business

CHis actions as a limited partner can bind the firm

DHis death will automatically dissolve partnership

View Explanation & Discuss

Question 783

jamb 1998

Use the above information below to answer question 7 and 8.

Mr obi is a manager of obi Agricultural Venture.

he makes all the decisions and takes all profits

from the business. H e had agreed with Alhaji Musa

It can be deduce from the above that obi AgricultrualVenture is a

(a farmer) to pool their resources together and

expand their business.They invited Mr Abayomi

(a cotton grower) to join them. Mr Abayami agreed on the condition that his liability in the new firm will be limited to his investment in it. The thus registered Obi, Musa and Abayaomi''s Agricultural ventures.

AA sole proprietorship

Bgeneral partnership

Climited partnership

Dlimited partnership

Ejoint partnership

View Explanation & Discuss

Question 784

jamb 1998

One advantage the co-operative society has over the company is that the

Athe latter pays tax while the former does not

Bformer attract more capitals than the later

Cmembers of the former is usually morethan the latter

Dformer, unlike the latter, has limited liabities

View Explanation & Discuss

Question 785

jamb 1998

Service which are of absolute monopoly can can best be proved by

Aprivate companies

Blimited liability companies

Cpublic companies

Dpublic enterprises

View Explanation & Discuss

Question 786

jamb 1998

The primary objective of a business organization is to

Acater for the neds of its owners

Bwork towards making returns

Cassist the government to serve the citizens

Dimprove the standard of living of its proprietors

View Explanation & Discuss

Question 787

jamb 1998

Extractive industries may also be denominated as

Adirect industries

Bservicing industries

Cprimary industries

Dindirect industries

View Explanation & Discuss

Question 788

jamb 1998

One of the factors which critically determines the choice of occupation is

Atraning

Bskills

Captitude

Dinterest

View Explanation & Discuss

Question 789

jamb 1998

Which of the following contributed least to the evolution of commercial activities in Nigeria?

ADevelopment of banks

BDevelopment oftransportation

CDevelopment of trader's unions

DDevelopment of currencies

View Explanation & Discuss

Question 790

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 with the best business objectives is ------------------------

AOkon

BTaiwo

CKalu

DMusa

View Explanation & Discuss

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