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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.


1 / 50

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

2 / 50

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

3 / 50

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

4 / 50

Which of the following is not suitable for hire purchase?

5 / 50

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

6 / 50

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

7 / 50

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

8 / 50

Partnership form of business is most appropriate

9 / 50

The main feature of a holding company is

10 / 50

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

11 / 50

Farming is an activity that falls under

12 / 50

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

13 / 50

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

14 / 50

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

15 / 50

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

16 / 50

Market skimming is an example of

17 / 50

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

18 / 50

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

19 / 50

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

20 / 50

The West Africa Clearing House (WACH) was established

21 / 50

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

22 / 50

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

23 / 50

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

24 / 50

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


25 / 50

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

26 / 50

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

27 / 50

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

28 / 50

Which of the following is a method of sales promotion?

29 / 50

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

30 / 50

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

31 / 50

A partner with an unlimited liability is known as a

32 / 50

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

33 / 50

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

34 / 50

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

35 / 50

The scope of commerce is limited to

36 / 50

The main advantage of sea transport over air transport is

37 / 50

Which of the following is true of rail transport?

38 / 50

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

39 / 50

An open cheque is one

40 / 50

A debenture is mortgaged when it is

41 / 50

Dividend is a always expressed as a percentage of total

42 / 50

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

43 / 50

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

44 / 50

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

45 / 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?

46 / 50

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

47 / 50

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

48 / 50

The term legal tender refers to

49 / 50

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

50 / 50

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

Your score is


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