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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.


1 / 50

Total assets minus current liabilities is equal to a company’s

2 / 50

A retailer sells his products at “buy-two-take-three”. The sales promotion method referred to is

3 / 50

The production of goods in anticipation of demand is possible because of the existence of

4 / 50

Which of the following is true of rail transport?

5 / 50

Which of the following is not a method of discharging a contract?

6 / 50

The various rights attached to different classes of shares are stated in the

7 / 50

Market skimming is an example of

8 / 50

Which of the following is not used to correct an adverse balance of payment?

9 / 50

Which of the following is a method of sales promotion?

10 / 50

The refund made on goods re-exported after being imported is known as

11 / 50

Which of the following is not an obstacle to the achievement of the objective of ECOWAS?

12 / 50

Which of the following is not suitable for hire purchase?

13 / 50

An advantage of a public limited company over a private one is the

14 / 50

If the amount of dividend paid varies according to the level of profit; what type of share is involved?

15 / 50

A debenture is mortgaged when it is

16 / 50

Which of the following is not a function of the ports Authority?

17 / 50

Farming is an activity that falls under

18 / 50

The minimum charge at which the central bank lends to commercial banks is called

19 / 50

Dividend is a always expressed as a percentage of total

20 / 50

The main advantage of sea transport over air transport is

21 / 50

Which of the following is a means by which a contract of agency could be terminated?

22 / 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?

23 / 50

An open cheque is one

24 / 50

A refund of the duty collected on goods imported and processed for re-export is

25 / 50

Partnership form of business is most appropriate

26 / 50

Which of the following gives businessmen the opportunity to buy shares of public limited companies?

27 / 50

The process by which the government takes over the ownership ad control of an existing private business is

28 / 50

Which of the following is used to show that goods imported were produced in an ECOWAS member country?

29 / 50

Which of the following organizations aim at providing relief for countries facing adverse balance of payment?

30 / 50

The West Africa Clearing House (WACH) was established

31 / 50

The process of dealing with a cheque once it has been paid into the creditor’s bank is

32 / 50

The term legal tender refers to

33 / 50

A partner with an unlimited liability is known as a

34 / 50

A retirement insurance policy which enables the assured to receive income for a specific period is

35 / 50

Which of the following provides a proof of posting and that the item has got to the addresses?

36 / 50

A specially designed container to convey crude oil or liquid from one’ location to another is a

37 / 50

Which of the following can be defined as trade and aid to trade?

38 / 50

C & F as a price quotation in foreign trade means that the buyer

39 / 50

Which of the following is an intangible asset of a firm?

40 / 50

The scope of commerce is limited to

41 / 50

Which of the following involves the delivery of mails to a traveler without fixed address?

42 / 50

The money used by Njie & Co. Ltd in running the day-to-day activities of the business is represented by

43 / 50

A private company is one which must publish its audited account must publish its audited account

44 / 50

The main feature of a holding company is

45 / 50

Which of the following terms is used in marine insurance when the cargo suffers partial loss?

46 / 50

A label as a product such as “Three Crown Milk” is a form of

47 / 50

Who among the following does not function in the stock exchange market?

48 / 50

If a share is sold at a price below its first value, it is sold

49 / 50

Who is responsible for the payment of the bill in documentary credits?

50 / 50

When an insurance company indemnifies the insured and takes over his rights, this is known as

Your score is


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