COMMERCE PAST QUESTIONS APP (SSCE/NECO/NABTEB/GCE) 1 Comment / Android Question Bank (SSCE/NECO/GCE/NABTEB) / By Acadlly / Commerce, Commerce Past Questions COMMERCE PAST QUESTIONS 0% 21 SSCE/NECO/GCE (COMMERCE) COMMERCE PAST QUESTIONS APP These are Commerce Past Questions. Questions will be picked at random from the question bank.You can use the NEXT button to move to the next question, use the PREV button to move to the previous question, the CLEAR button to clear any answer of your choice and you have the FINISH button to end the exam if you choose to.Any question not answered before the end of the exam time, will be marked as wrong and the exam will end by itself. so try to attempt all questions on time.Goodluck! 1 / 50 The process by which the government takes over the ownership ad control of an existing private business is privatization commercialization industrialization nationalization 2 / 50 Dividend is a always expressed as a percentage of total volume of business working capital earnings of the business value of shares owned 3 / 50 A specially designed container to convey crude oil or liquid from one’ location to another is a tanker launch coaster ferry 4 / 50 Who is responsible for the payment of the bill in documentary credits? importer’s bank exporter’s bank exporter importer 5 / 50 Which of the following is not a method of discharging a contract? breech performance frustration consideration 6 / 50 Which of the following terms is used in marine insurance when the cargo suffers partial loss? general average floating policy open cover particular average 7 / 50 Which of the following involves the delivery of mails to a traveler without fixed address? poste restante reply paid recorded deliver speed post 8 / 50 Who among the following does not function in the stock exchange market? jobber broker promoter Bull 9 / 50 The money used by Njie & Co. Ltd in running the day-to-day activities of the business is represented by total assets less total liabilities current assets less current liabilities current assets less stock total assets less current liabilities 10 / 50 Which of the following is an intangible asset of a firm? goodwill skilled personnel right issue reserve 11 / 50 The various rights attached to different classes of shares are stated in the prospectus memorandum of association balance sheet articles of association 12 / 50 Which of the following is not suitable for hire purchase? refrigerators printing textiles furniture 13 / 50 A private company is one which must publish its audited account must publish its audited account is owned by a maximum of twenty members floats its shares on the shock exchange market must publish its audited account restricts the rights to transfer its shares 14 / 50 Which of the following is a means by which a contract of agency could be terminated? lack of consideration failure to insure the contract mutual agreement payment of commission 15 / 50 The term legal tender refers to coins and cheques postal and money orders cheque and bank notes coins and bank notes 16 / 50 A label as a product such as “Three Crown Milk” is a form of packaging copyright patent right branding 17 / 50 Which of the following is a method of sales promotion? poster display radio gingles trade fair television broadcast 18 / 50 If the amount of dividend paid varies according to the level of profit; what type of share is involved? cumulative preference share preference share deferred share ordinary share 19 / 50 When an insurance company indemnifies the insured and takes over his rights, this is known as subrogation abandonment proximate cause contribution 20 / 50 If a share is sold at a price below its first value, it is sold at premium at par above par at a discount 21 / 50 An open cheque is one which can be cashed over the counter on which the amount is written only in figures which has no name which has no specific amount written on it 22 / 50 The scope of commerce is limited to trade and aids-to-trade home and foreign trade wholesale and entrepot trade wholesale and retail trade 23 / 50 The minimum charge at which the central bank lends to commercial banks is called market rate discount rate bank rate interest rate 24 / 50 A refund of the duty collected on goods imported and processed for re-export is value added tax excise duty preferential duty excise draw bank 25 / 50 The production of goods in anticipation of demand is possible because of the existence of warehousing branding packaging advertising 26 / 50 Which of the following is not used to correct an adverse balance of payment? increasing exports decreasing import devaluation increasing imports 27 / 50 Which of the following has as one of its objectives the removal of obstacles to movement of people and goods across the boundaries of member countries? ECOWAS LCBC OPEC OAU 28 / 50 The refund made on goods re-exported after being imported is known as customs drawback excise drawback export duty import duty 29 / 50 A retailer sells his products at “buy-two-take-three”. The sales promotion method referred to is trade discount premium free sample gift 30 / 50 C & F as a price quotation in foreign trade means that the buyer is responsible for clearing and forwarding the goods pays for both the freight and insurance pays for insurance only has to pay for cost and freight 31 / 50 A retirement insurance policy which enables the assured to receive income for a specific period is fidelity guarantee endowment annuity whole life 32 / 50 The process of dealing with a cheque once it has been paid into the creditor’s bank is clearing negotiating discounting accepting 33 / 50 A debenture is mortgaged when it is irredeemable not secured on the assets of a company secured on the assets of a company redeemable 34 / 50 The main feature of a holding company is accepting responsibilities beyond the aims of private enterprises that it has profit-sharing schemes for employees that resources are used for the interest if the community that it has financial control over other companies 35 / 50 Farming is an activity that falls under extractive occupation commercial occupation tertiary occupation secondary occupation 36 / 50 A partner with an unlimited liability is known as a active partner general partner norminal partner dormant partner 37 / 50 Which of the following is used to show that goods imported were produced in an ECOWAS member country? insurance policy bill of lading certificate of origin bill of exchange 38 / 50 The main advantage of sea transport over air transport is patronage capacity safety speed 39 / 50 Which of the following is true of rail transport? cheaper over long distances has no fixed route suitable for perishable good it does not require trans-shipping of goods 40 / 50 Market skimming is an example of advertising consumerism sales promotion pricing policy 41 / 50 An advantage of a public limited company over a private one is the access to retained earnings easy transferability of shares limited liability of shareholders Less taxation by government 42 / 50 Which of the following gives businessmen the opportunity to buy shares of public limited companies? discount houses the stock exchange insurance companies commercial banks 43 / 50 Total assets minus current liabilities is equal to a company’s gross profit capital employed net profit capital owned 44 / 50 Which of the following can be defined as trade and aid to trade? retailing commerce wholesaling advertising 45 / 50 Which of the following organizations aim at providing relief for countries facing adverse balance of payment? U.N.C.T.D I.M.F G.A.T A.C.P 46 / 50 Which of the following is not an obstacle to the achievement of the objective of ECOWAS? lack of capital slow pace of development of member countries sabotage by other organizations lack of commitment of member states 47 / 50 The West Africa Clearing House (WACH) was established promote the use of currencies of all members for inter-regional trade dredge the rivers in West Africa for easy navigation coordinate the efforts of member states to tap their natural resources expand the volume of traffic within member countries 48 / 50 Partnership form of business is most appropriate for nonprofit making ventures where very large capital is required where professionals are needed where the liability of members is limited. 49 / 50 Which of the following provides a proof of posting and that the item has got to the addresses? express letter registered letter certificate of posting recorded delivery 50 / 50 Which of the following is not a function of the ports Authority? controlling pollution in rivers providing facilities for water traffic movement providing parking space for vehicles providing storage and warehousing facilities at the docks Your score is LinkedIn Facebook Twitter VKontakte 0% Restart quiz Send feedback Also See PHYSICS PAST QUESTIONS APP ENGLISH LANGUAGE TEST OF ORALS PAST QUESTIONS
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