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

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

2 / 40

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

3 / 40

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

4 / 40

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

5 / 40

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

6 / 40

An open cheque is one

7 / 40

Which of the following is not suitable for hire purchase?

8 / 40

Farming is an activity that falls under

9 / 40

A debenture is mortgaged when it is

10 / 40

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

11 / 40

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

12 / 40

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

13 / 40

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

14 / 40

A partner with an unlimited liability is known as a

15 / 40

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

16 / 40

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

17 / 40

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

18 / 40

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

19 / 40

Which of the following is true of rail transport?

20 / 40

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

21 / 40

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

22 / 40

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

23 / 40

The term legal tender refers to

24 / 40

Which of the following is a method of sales promotion?

25 / 40

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

26 / 40

The main feature of a holding company is

27 / 40

Partnership form of business is most appropriate

28 / 40

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

29 / 40

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

30 / 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?

31 / 40

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

32 / 40

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

33 / 40

Dividend is a always expressed as a percentage of total

34 / 40

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

35 / 40

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

36 / 40

The main advantage of sea transport over air transport is

37 / 40

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

38 / 40

The scope of commerce is limited to

39 / 40

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

40 / 40

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

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