COMMERCE PAST QUESTIONS (SSCE)

SSCE/NECO/GCE (COMMERCE)

These are Commerce Past Questions. 40 questions will be picked at random from the question bank.

You have 30 minutes to answer all the questions.

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!

School Portal Nigeria

1 / 40

Dividend is a always expressed as a percentage of total

working capital

volume of business

value of shares owned

earnings of the business

2 / 40

A debenture is mortgaged when it is

secured on the assets of a company

redeemable

irredeemable

not secured on the assets of a company

3 / 40

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

bank rate

interest rate

discount rate

market rate

4 / 40

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

U.N.C.T.D

G.A.T

A.C.P

I.M.F

5 / 40

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

advertising

branding

warehousing

packaging

6 / 40

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

easy transferability of shares

limited liability of shareholders

Less taxation by government

access to retained earnings

7 / 40

Market skimming is an example of

sales promotion

consumerism

pricing policy

advertising

8 / 40

The main advantage of sea transport over air transport is

capacity

patronage

speed

safety

9 / 40

The West Africa Clearing House (WACH) was established

coordinate the efforts of member states to tap their natural resources

dredge the rivers in West Africa for easy navigation

expand the volume of traffic within member countries

promote the use of currencies of all members for inter-regional trade

10 / 40

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

capital owned

capital employed

gross profit

net profit

11 / 40

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

whole life

annuity

endowment

fidelity guarantee

12 / 40

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

lack of capital

sabotage by other organizations

lack of commitment of member states

slow pace of development of member countries

13 / 40

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

recorded delivery

certificate of posting

registered letter

express letter

14 / 40

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 stock

current assets less current liabilities

total assets less current liabilities

15 / 40

The main feature of a holding company is

accepting responsibilities beyond the aims of private enterprises

that resources are used for the interest if the community

that it has financial control over other companies

that it has profit-sharing schemes for employees

16 / 40

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

payment of commission

lack of consideration

mutual agreement

failure to insure the contract

17 / 40

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

increasing exports

decreasing import

devaluation

increasing imports

18 / 40

The term legal tender refers to

coins and cheques

cheque and bank notes

postal and money orders

coins and bank notes

19 / 40

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

articles of association

prospectus

balance sheet

memorandum of association

20 / 40

Which of the following is true of rail transport?

cheaper over long distances

has no fixed route

it does not require trans-shipping of goods

suitable for perishable good

21 / 40

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 / 40

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

cumulative preference share

ordinary share

preference share

deferred share

23 / 40

Which of the following is a method of sales promotion?

poster display

radio gingles

television broadcast

trade fair

24 / 40

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

providing facilities for water traffic movement

providing parking space for vehicles

providing storage and warehousing facilities at the docks

controlling pollution in rivers

25 / 40

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

retailing

advertising

commerce

wholesaling

26 / 40

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

general average

open cover

floating policy

particular average

27 / 40

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

reply paid

recorded deliver

poste restante

speed post

28 / 40

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

excise draw bank

value added tax

preferential duty

excise duty

29 / 40

Which of the following is not suitable for hire purchase?

printing

textiles

furniture

refrigerators

30 / 40

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

exporter

exporter’s bank

importer’s bank

importer

31 / 40

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

promoter

jobber

broker

Bull

32 / 40

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

restricts the rights to transfer its shares

floats its shares on the shock exchange market

is owned by a maximum of twenty members

must publish its audited account

33 / 40

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

insurance companies

commercial banks

discount houses

the stock exchange

34 / 40

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?

OPEC

LCBC

ECOWAS

OAU

35 / 40

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

ferry

tanker

launch

coaster

36 / 40

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

is responsible for clearing and forwarding the goods

has to pay for cost and freight

pays for insurance only

pays for both the freight and insurance

37 / 40

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

performance

frustration

breech

consideration

38 / 40

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

skilled personnel

goodwill

right issue

reserve

39 / 40

A partner with an unlimited liability is known as a

active partner

general partner

dormant partner

norminal partner

40 / 40

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.

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COMMERCE PAST QUESTIONS (SSCE)

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