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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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1,707 questions

Question 1 of 20 1,707 total questions

Question 841

jamb 1994

The element of the marketing mix are

Aproduct promotion, place and price

B[personal selling, advertising and research

Cpromotion, production, place and price

Dprocurement, price, product and place

View Explanation & Discuss

Question 842

jamb 1994

The second tier security market is

Aan appendage to the Nigeria stock exchange

Ba member of the Nigeria stock exchange

Cmeant for the shares of quoted private companies

Da regulating arm of the Nigerian stock exchange

View Explanation & Discuss

Question 843

jamb 1994

The business in the stock exchange is characterized essentially by

Adealing

Bbrokerage

Cspeculations

Dtransactions

View Explanation & Discuss

Question 844

jamb 1994

Which of the following is both direct and indirect credit enterprise?

AA co-operative and thrift society

Bretail co-operative society

Cconsumer co-operative society

Dwholesaler co-operative society

View Explanation & Discuss

Question 845

jamb 1994

The financial institution established to boost Nigeria's trade with the rest of the world is called

ANigerian Deposit Insurance Corporation

BNigerian Economic Reconstruction Fund

CNigerian Industrial Development Bank

DNigerian Export-Import Bank

View Explanation & Discuss

Question 846

jamb 1994

Drawing two parallel lines across a cheque means that it has to be paid into the account of the

Apayee

Bdrawer

Cdrawee

Dpayer

View Explanation & Discuss

Question 847

jamb 1994

One of the effects of the devaluation of the Naira is that the

Agoods that can be imported with the naira have become cheaper

Bvalue of other currencies relative to the naira have become cheaper

Cgoods that can be exported from Nigeria have become costlier

Dimports that can be bought with the naira have become costlier

View Explanation & Discuss

Question 848

jamb 1994

A sole proprietor insured his goods worth N200,000 for half the value. There was a fire accident in which goods valued N80,000 were destroyed. The value of compensation expected from the insurer is

AN40,000

BN80,000

CN100,000

DN200,000

View Explanation & Discuss

Question 849

jamb 1994

Goods discharged from ships on which import duties have not been paid are kept in the

Aordinary warehouse

Bpublic warehouse

Cprivate warehouse

Dbonded warehouse

View Explanation & Discuss

Question 850

jamb 1994

The postal organization which preceded the Nigerian Postal Service is

APost and Telecommunication

BPost and Telephone

CPost and Teleprinter

DPost and Telegraph

View Explanation & Discuss

Question 851

jamb 1994

Which of the following statements is TRUE about sea transport?

Aall ships have specific routes to ply

Ball ships must be insured at every journey

Call ships are insured separately from the crew

Dall ships normally arrive at their destination with goods

View Explanation & Discuss

Question 852

jamb 1994

A pro forma invoice is NOT required when

Aquoting for the supply of goods

Bgoods are sent on approval

Cdealing regularly with a customer

Dfinal prices are uncertain

View Explanation & Discuss

Question 853

jamb 1994

The difference between the total payments for imports and the receipts from exports within a given period is referred to as

Abalance of payments

Bbalance of trade

Ccomparative cost advantage

Dcomparative advantage

View Explanation & Discuss

Question 854

jamb 1994

The rate at which a country's exports exchange for its imports is called

Abalance of payments

Bbalance of trade

Cterms of payment

Dterms of trade

View Explanation & Discuss

Question 855

jamb 1994

What is the major function of the wholesaler?

Abuying from small-scale producers and selling to exporters

Bbuying in bulk and selling in small quantities

Cgranting of credit facilities to retailers

Dproviding information to manufacturers on market situation

View Explanation & Discuss

Question 856

jamb 1994

The use of coin-operated machines to sell goods is a form of

Apersonal selling

Bretailing

Cwholesaling

Dmail-order selling

View Explanation & Discuss

Question 857

jamb 1994

Sole enterprise may flourish best in

Aa mining business

Ba retailing business

Can oil exploration business

Da car assembly business

View Explanation & Discuss

Question 858

jamb 1994

Governments impose import duties for the following reasons EXCEPT

Ato raise revenue for other services

Bto act as a retaliatory measure against other governments

Cto discourage the redistribution of income at home

Dto protect home industries from external competition

View Explanation & Discuss

Question 859

jamb 1994

What are fixtures and fittings in a balance sheet?

Aliquid capital

Bcurrent assets

Cfixed assets

Dworking capital

View Explanation & Discuss

Question 860

jamb 1994

Compulsory dissolution of a business can arise from

Aan agreement by the owners

Ba declaration by a court of law

Cthe termination of its life

Dan unfavourable economic climtate

View Explanation & Discuss

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