COMMERCE PAST QUESTIONS APP (SSCE/NECO/NABTEB/GCE)by School Portal NGAndroid Question Bank (SSCE/NECO/GCE/NABTEB)COMMERCE PAST QUESTIONS 0% 16 SSCE/NECO/GCE (COMMERCE) COMMERCE PAST QUESTIONS APP These are Commerce Past Questions. Questions will be picked at random from the question bank.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! 1 / 50 If the amount of dividend paid varies according to the level of profit; what type of share is involved? cumulative preference share ordinary share deferred share preference share 2 / 50 Who among the following does not function in the stock exchange market? Bull jobber broker promoter 3 / 50 Which of the following gives businessmen the opportunity to buy shares of public limited companies? the stock exchange insurance companies discount houses commercial banks 4 / 50 A debenture is mortgaged when it is irredeemable secured on the assets of a company not secured on the assets of a company redeemable 5 / 50 Which of the following terms is used in marine insurance when the cargo suffers partial loss? general average particular average floating policy open cover 6 / 50 The refund made on goods re-exported after being imported is known as export duty excise drawback import duty customs drawback 7 / 50 Market skimming is an example of advertising pricing policy consumerism sales promotion 8 / 50 Farming is an activity that falls under extractive occupation tertiary occupation commercial occupation secondary occupation 9 / 50 The process by which the government takes over the ownership ad control of an existing private business is commercialization privatization industrialization nationalization 10 / 50 Which of the following is not a function of the ports Authority? providing parking space for vehicles providing facilities for water traffic movement providing storage and warehousing facilities at the docks controlling pollution in rivers 11 / 50 The West Africa Clearing House (WACH) was established promote the use of currencies of all members for inter-regional trade coordinate the efforts of member states to tap their natural resources expand the volume of traffic within member countries dredge the rivers in West Africa for easy navigation 12 / 50 An open cheque is one on which the amount is written only in figures which can be cashed over the counter which has no specific amount written on it which has no name 13 / 50 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 OAU ECOWAS 14 / 50 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 profit-sharing schemes for employees that it has financial control over other companies 15 / 50 Total assets minus current liabilities is equal to a company’s capital owned gross profit net profit capital employed 16 / 50 Dividend is a always expressed as a percentage of total working capital volume of business value of shares owned earnings of the business 17 / 50 Which of the following involves the delivery of mails to a traveler without fixed address? poste restante reply paid recorded deliver speed post 18 / 50 Which of the following provides a proof of posting and that the item has got to the addresses? express letter certificate of posting registered letter recorded delivery 19 / 50 A partner with an unlimited liability is known as a norminal partner active partner dormant partner general partner 20 / 50 Which of the following is not an obstacle to the achievement of the objective of ECOWAS? slow pace of development of member countries lack of capital sabotage by other organizations lack of commitment of member states 21 / 50 Which of the following is true of rail transport? cheaper over long distances suitable for perishable good has no fixed route it does not require trans-shipping of goods 22 / 50 A retailer sells his products at “buy-two-take-three”. The sales promotion method referred to is trade discount gift free sample premium 23 / 50 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 24 / 50 Who is responsible for the payment of the bill in documentary credits? exporter exporter’s bank importer importer’s bank 25 / 50 Which of the following is a method of sales promotion? poster display television broadcast trade fair radio gingles 26 / 50 The main advantage of sea transport over air transport is speed patronage capacity safety 27 / 50 Which of the following is used to show that goods imported were produced in an ECOWAS member country? certificate of origin insurance policy bill of exchange bill of lading 28 / 50 Which of the following is not suitable for hire purchase? furniture printing refrigerators textiles 29 / 50 The various rights attached to different classes of shares are stated in the articles of association prospectus balance sheet memorandum of association 30 / 50 The money used by Njie & Co. Ltd in running the day-to-day activities of the business is represented by current assets less current liabilities total assets less total liabilities current assets less stock total assets less current liabilities 31 / 50 A refund of the duty collected on goods imported and processed for re-export is excise duty excise draw bank value added tax preferential duty 32 / 50 Which of the following is not a method of discharging a contract? performance breech frustration consideration 33 / 50 Which of the following organizations aim at providing relief for countries facing adverse balance of payment? U.N.C.T.D A.C.P G.A.T I.M.F 34 / 50 The scope of commerce is limited to wholesale and entrepot trade wholesale and retail trade home and foreign trade trade and aids-to-trade 35 / 50 Which of the following is an intangible asset of a firm? skilled personnel right issue goodwill reserve 36 / 50 The process of dealing with a cheque once it has been paid into the creditor’s bank is clearing discounting accepting negotiating 37 / 50 Which of the following is a means by which a contract of agency could be terminated? payment of commission mutual agreement lack of consideration failure to insure the contract 38 / 50 Partnership form of business is most appropriate for nonprofit making ventures where the liability of members is limited. where very large capital is required where professionals are needed 39 / 50 A specially designed container to convey crude oil or liquid from one’ location to another is a ferry launch tanker coaster 40 / 50 Which of the following is not used to correct an adverse balance of payment? decreasing import increasing exports increasing imports devaluation 41 / 50 Which of the following can be defined as trade and aid to trade? retailing wholesaling commerce advertising 42 / 50 When an insurance company indemnifies the insured and takes over his rights, this is known as proximate cause contribution abandonment subrogation 43 / 50 The term legal tender refers to postal and money orders coins and cheques cheque and bank notes coins and bank notes 44 / 50 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 45 / 50 A label as a product such as “Three Crown Milk” is a form of copyright branding patent right packaging 46 / 50 The production of goods in anticipation of demand is possible because of the existence of packaging branding advertising warehousing 47 / 50 A retirement insurance policy which enables the assured to receive income for a specific period is whole life endowment fidelity guarantee annuity 48 / 50 The minimum charge at which the central bank lends to commercial banks is called discount rate interest rate market rate bank rate 49 / 50 An advantage of a public limited company over a private one is the access to retained earnings easy transferability of shares Less taxation by government limited liability of shareholders 50 / 50 If a share is sold at a price below its first value, it is sold at premium above par at par at a discount Your score is LinkedIn Facebook Twitter VKontakte 0% Restart quiz Send feedback Also See PHYSICS PAST QUESTIONS APP ENGLISH LANGUAGE TEST OF ORALS PAST QUESTIONS previousFINANCIAL ACCOUNTING PAST QUESTIONS APP (SSCE/NECO/NABTEB/GCE)nextCOMPUTER STUDIES PAST QUESTIONS APP (SSCE/NECO/NABTEB/GCE) Leave a Reply Cancel replyYour email address will not be published. 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