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.


School Portal Nigeria

1 / 40

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

2 / 40

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

3 / 40

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

4 / 40

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

5 / 40

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

6 / 40

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

7 / 40

Partnership form of business is most appropriate

8 / 40

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

9 / 40

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

10 / 40

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

11 / 40

A debenture is mortgaged when it is

12 / 40

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

13 / 40

Which of the following is true of rail transport?

14 / 40

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

15 / 40

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

16 / 40

The main advantage of sea transport over air transport is

17 / 40

Which of the following is a method of sales promotion?

18 / 40

A partner with an unlimited liability is known as a

19 / 40

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

20 / 40

Market skimming is an example of

21 / 40

Which of the following is not suitable for hire purchase?

22 / 40

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

23 / 40

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

24 / 40

An open cheque is one

25 / 40

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

26 / 40

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

27 / 40

The West Africa Clearing House (WACH) was established

28 / 40

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

29 / 40

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

30 / 40

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

31 / 40

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

32 / 40

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

33 / 40

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

34 / 40

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

35 / 40

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

36 / 40

The term legal tender refers to

37 / 40

Dividend is a always expressed as a percentage of total

38 / 40

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

39 / 40

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

40 / 40

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

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