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

A partner with an unlimited liability is known as a

2 / 40

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

3 / 40

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

4 / 40

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

5 / 40

The West Africa Clearing House (WACH) was established

6 / 40

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

7 / 40

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

8 / 40

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

9 / 40

Which of the following is not suitable for hire purchase?

10 / 40

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

11 / 40

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

12 / 40

The main feature of a holding company is

13 / 40

The scope of commerce is limited to

14 / 40

Market skimming is an example of

15 / 40

A debenture is mortgaged when it is

16 / 40

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

17 / 40

Which of the following is a method of sales promotion?

18 / 40

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

19 / 40

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

20 / 40

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

21 / 40

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

22 / 40

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

23 / 40

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

24 / 40

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

25 / 40

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

26 / 40

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

27 / 40

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

28 / 40

Dividend is a always expressed as a percentage of total

29 / 40

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

30 / 40

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

31 / 40

The term legal tender refers to

32 / 40

Which of the following is true of rail transport?

33 / 40

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

34 / 40

Farming is an activity that falls under

35 / 40

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

36 / 40

An open cheque is one

37 / 40

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

38 / 40

Partnership form of business is most appropriate

39 / 40

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

40 / 40

The main advantage of sea transport over air transport is

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