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.


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1 / 40

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

2 / 40

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

3 / 40

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

4 / 40

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

5 / 40

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

6 / 40

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

7 / 40

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

8 / 40

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

9 / 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?

10 / 40

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

11 / 40

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

12 / 40

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

13 / 40

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

14 / 40

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

15 / 40

The term legal tender refers to

16 / 40

Which of the following is a method of sales promotion?

17 / 40

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

18 / 40

Partnership form of business is most appropriate

19 / 40

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

20 / 40

The West Africa Clearing House (WACH) was established

21 / 40

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

22 / 40

Market skimming is an example of

23 / 40

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

24 / 40

Which of the following is not suitable for hire purchase?

25 / 40

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

26 / 40

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

27 / 40

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

28 / 40

Which of the following is true of rail transport?

29 / 40

The main feature of a holding company is

30 / 40

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

31 / 40

The main advantage of sea transport over air transport is

32 / 40

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

33 / 40

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

34 / 40

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

35 / 40

The scope of commerce is limited to

36 / 40

Farming is an activity that falls under

37 / 40

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

38 / 40

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

39 / 40

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

40 / 40

An open cheque is one

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