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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

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

2 / 40

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

3 / 40

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

4 / 40

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

5 / 40

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

6 / 40

The scope of commerce is limited to

7 / 40

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

8 / 40

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

9 / 40

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

10 / 40

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

11 / 40

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

12 / 40

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

13 / 40

The main feature of a holding company is

15 / 40

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

16 / 40

Partnership form of business is most appropriate

17 / 40

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

18 / 40

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

19 / 40

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

20 / 40

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

21 / 40

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

22 / 40

Dividend is a always expressed as a percentage of total

23 / 40

The West Africa Clearing House (WACH) was established

24 / 40

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

25 / 40

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

26 / 40

A debenture is mortgaged when it is

27 / 40

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

28 / 40

Market skimming is an example of

30 / 40

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

31 / 40

Which of the following is a method of sales promotion?

32 / 40

Farming is an activity that falls under

33 / 40

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

34 / 40

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

35 / 40

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

36 / 40

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

37 / 40

Which of the following is true of rail transport?

38 / 40

The term legal tender refers to

39 / 40

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

40 / 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?

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