COMMERCE PAST QUESTIONS (SSCE)

SSCE/NECO/GCE (COMMERCE)

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.

Goodluck!

School Portal Nigeria

1 / 40

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

patent right

copyright

packaging

branding

2 / 40

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

warehousing

advertising

packaging

branding

3 / 40

Farming is an activity that falls under

secondary occupation

commercial occupation

tertiary occupation

extractive occupation

4 / 40

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

lack of commitment of member states

lack of capital

sabotage by other organizations

slow pace of development of member countries

5 / 40

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

commercial banks

the stock exchange

insurance companies

discount houses

6 / 40

A partner with an unlimited liability is known as a

dormant partner

norminal partner

general partner

active partner

7 / 40

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

contribution

subrogation

proximate cause

abandonment

8 / 40

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

increasing exports

devaluation

increasing imports

decreasing import

9 / 40

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

articles of association

prospectus

balance sheet

memorandum of association

10 / 40

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

recorded delivery

registered letter

certificate of posting

express letter

11 / 40

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

bill of exchange

insurance policy

certificate of origin

bill of lading

12 / 40

The scope of commerce is limited to

home and foreign trade

wholesale and retail trade

trade and aids-to-trade

wholesale and entrepot trade

13 / 40

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

right issue

goodwill

skilled personnel

reserve

14 / 40

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

importer’s bank

exporter

exporter’s bank

importer

15 / 40

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

Less taxation by government

easy transferability of shares

limited liability of shareholders

access to retained earnings

16 / 40

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

export duty

excise drawback

customs drawback

import duty

17 / 40

An open cheque is one

which can be cashed over the counter

which has no name

on which the amount is written only in figures

which has no specific amount written on it

18 / 40

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

launch

coaster

tanker

ferry

19 / 40

Which of the following is a method of sales promotion?

radio gingles

trade fair

poster display

television broadcast

20 / 40

The main feature of a holding company is

that it has financial control over other companies

that resources are used for the interest if the community

that it has profit-sharing schemes for employees

accepting responsibilities beyond the aims of private enterprises

21 / 40

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

floating policy

particular average

general average

open cover

22 / 40

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

A.C.P

I.M.F

U.N.C.T.D

G.A.T

23 / 40

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

commerce

retailing

wholesaling

advertising

24 / 40

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 current liabilities

current assets less stock

total assets less total liabilities

25 / 40

A debenture is mortgaged when it is

redeemable

not secured on the assets of a company

irredeemable

secured on the assets of a company

26 / 40

The term legal tender refers to

coins and bank notes

postal and money orders

cheque and bank notes

coins and cheques

27 / 40

Which of the following is not suitable for hire purchase?

printing

refrigerators

textiles

furniture

28 / 40

Dividend is a always expressed as a percentage of total

earnings of the business

working capital

value of shares owned

volume of business

29 / 40

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

pays for both the freight and insurance

is responsible for clearing and forwarding the goods

has to pay for cost and freight

pays for insurance only

30 / 40

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?

LCBC

ECOWAS

OPEC

OAU

31 / 40

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

capital employed

capital owned

gross profit

net profit

32 / 40

The main advantage of sea transport over air transport is

capacity

patronage

speed

safety

33 / 40

Market skimming is an example of

sales promotion

consumerism

advertising

pricing policy

34 / 40

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

providing storage and warehousing facilities at the docks

controlling pollution in rivers

providing facilities for water traffic movement

providing parking space for vehicles

35 / 40

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

preferential duty

excise duty

value added tax

excise draw bank

36 / 40

Partnership form of business is most appropriate

where the liability of members is limited.

for nonprofit making ventures

where professionals are needed

where very large capital is required

37 / 40

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

consideration

performance

breech

frustration

38 / 40

Which of the following is true of rail transport?

it does not require trans-shipping of goods

has no fixed route

suitable for perishable good

cheaper over long distances

39 / 40

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

poste restante

reply paid

recorded deliver

speed post

40 / 40

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

gift

free sample

premium

trade discount

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COMMERCE PAST QUESTIONS (SSCE)

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