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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.


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1 / 40

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

2 / 40

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

3 / 40

The main feature of a holding company is

4 / 40

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

5 / 40

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

6 / 40

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

7 / 40

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

8 / 40

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

9 / 40

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

10 / 40

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

11 / 40

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

12 / 40

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

13 / 40

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

14 / 40

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

15 / 40

Which of the following is true of rail transport?

16 / 40

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

17 / 40

Farming is an activity that falls under

18 / 40

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

19 / 40


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

20 / 40

Which of the following is not suitable for hire purchase?

21 / 40

An open cheque is one

22 / 40

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

23 / 40

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

24 / 40

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

25 / 40

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

26 / 40

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

27 / 40

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

28 / 40

The scope of commerce is limited to

29 / 40

Dividend is a always expressed as a percentage of total

30 / 40

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

31 / 40

A debenture is mortgaged when it is

32 / 40

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

33 / 40

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

34 / 40

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

35 / 40

Partnership form of business is most appropriate

36 / 40

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

37 / 40

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

38 / 40

The main advantage of sea transport over air transport is

39 / 40

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

40 / 40

Which of the following is a method of sales promotion?

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