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.
Which of the following is a disadvantage of foreign trade?
AEncourages dumping
BMakes available the products that a country cannot produce
CWidens the world market
DEncourages specialization
EMakes possible the transfer of technology
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Question 802
waec1996
Which of the following is a direct service?
ABanking
BTeaching
CAdvertising
DFishing
EWarehousing
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Question 803
waec1996
Which of the following activities makes the consumer its focus in decision making?
ASelling concept
BMarketing concept
CProduct concept
DProduction concept
EMarket research
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Question 804
waec1996
Which of the following does not aim at protecting the customer?
ASales of Goods Act
BFair Trading Act
CPrice Control Act
DPartnership Act
EFoods and Drugs Act
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Question 805
waec1996
The contract between ship owners and hires whereby the hires take full control of the ship is called?
Atime charter
Bcharter by demise
Cshipping conference
Dvoyage charter
Echarter party
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Question 806
waec1996
Which of the following is not a source of capital?
APersonal savings
BCredit transfer
CBank Loan
DCredit purchase
EDebenture
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Question 807
waec1996
Which of the following is not included in the Memorandum of Association?
AWinding up procedure
BObjectives of the company
CAddress of the registered office
DAmount of capital
EConditions for amendment of the memorandum
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Question 808
waec1996
A partner who does not play an active role in a business but contributes capital is a
Asecret partner
Bdormant partner
Cnominal partner
Dlimited partner
Egeneral partner
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Question 809
waec1996
Which of the following is an advantage of personal selling?
AImmediate feedback
BLow cost
CSelf service
DSpeedy market coverage
ESelling to many people at a time
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Question 810
waec1996
Which of the following is not an element of a contract?
AConsideration
BProbability
CLegality
DCapacity
EConsensus
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Question 811
waec1996
Which of the following is suitable for transporting fish a long distance?
ATramp
BCargo liner
CTanker
DBarge
ERefrigerated ship
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Question 812
waec1996
Which of the following is not true of franking machines ?
AHired by companies and licensed by NIPOST
BPrint postage imprssion on mails
CCan print company's logo on mails
DAdvance payment must be made to NIPOST
EPostage stamp is used
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Question 813
waec1996
The value of a product expressed in monetary terms is known as
Autility
Bprice
CPremium
Dcommission
Einterest
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Question 814
waec1996
A retail co-operative society aims at
Aencouraging members to save money
Bbuying seeds and fertilizers
CManufacturing goods as cheaply
Dlending money to members at low rate of interest
Ecutting off the profits of middlemen
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Question 815
waec1996
Which of the following is not true of a private limited company?
AThe minimum number of shareholders is two
Bits shares are freely transferable
CThere is a limit to the number of shareholders
Dit is following separate legal entity
Eit is a registered business
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Question 816
waec1996
Which of the following is not a reason for dishonoring a cheque?
AInsufficient funds
BDifferent amounts in words and figures
CUninitiated alteration
DWrong signature
ESpecial crossing
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Question 817
waec1996
Which of the following may be used to restrict imports?
i. Bill of lading ii. Specific Licenses iii.Foreign exchange rationing iv. Letters of credit v.Customs duties and tariffs
Ai, ii and v only
Bii, iii and v only
Ciii, iv and v only
Di, ii and iv only
Eii, iii and iv only
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Question 818
waec1996
Which of the following may not be considered when choosing an appropriate channel of distribution for a new product?
ANature of the product
BIdentification of potential customers
COperating costs
DExisting local channel of distribution
EProvision of credit facilities to customers
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Question 819
waec1996
When goods are sent through an independent carrier, the document used by the sender is
Aa delivery note
Ban advice note
Can invoice
Da consignment note
Ea reciept
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Question 820
waec1996
Musa places the bicycle for sale at #800.00 and Dada had agreed to pay the amount. In this transaction, Musa is the
