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

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

2 / 40

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

3 / 40

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

4 / 40

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

5 / 40

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

6 / 40

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

7 / 40

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

8 / 40

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

9 / 40

An open cheque is one

10 / 40

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

11 / 40

Which of the following is true of rail transport?

12 / 40

A debenture is mortgaged when it is

13 / 40

Dividend is a always expressed as a percentage of total

14 / 40

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

15 / 40

The main feature of a holding company is

16 / 40

Which of the following is a method of sales promotion?

17 / 40

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

18 / 40

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

19 / 40

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

20 / 40

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

21 / 40

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

22 / 40

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

23 / 40

Farming is an activity that falls under

24 / 40

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

25 / 40

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

26 / 40

Partnership form of business is most appropriate

27 / 40

The West Africa Clearing House (WACH) was established

28 / 40

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

29 / 40

A partner with an unlimited liability is known as a

30 / 40

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

31 / 40

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

32 / 40

Market skimming is an example of

33 / 40

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

34 / 40

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

35 / 40

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

36 / 40

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

37 / 40

Which of the following is not suitable for hire purchase?

38 / 40

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

39 / 40

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

40 / 40

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

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