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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.


School Portal Nigeria

1 / 40

Partnership form of business is most appropriate

2 / 40

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

3 / 40

Which of the following is a method of sales promotion?

4 / 40

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

5 / 40

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

6 / 40

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

7 / 40

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

8 / 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?

9 / 40

Market skimming is an example of

10 / 40

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

11 / 40

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

12 / 40

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

13 / 40

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

14 / 40

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

15 / 40

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

16 / 40

A debenture is mortgaged when it is

17 / 40

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

18 / 40

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

19 / 40

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

20 / 40

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

21 / 40

The main feature of a holding company is

22 / 40

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

23 / 40

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

24 / 40

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

25 / 40

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

26 / 40

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

27 / 40

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

28 / 40

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

29 / 40

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

30 / 40

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

31 / 40

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

32 / 40

The term legal tender refers to

33 / 40

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

34 / 40

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

35 / 40

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

36 / 40

The main advantage of sea transport over air transport is

37 / 40

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

38 / 40

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

39 / 40

An open cheque is one

40 / 40

The West Africa Clearing House (WACH) was established

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