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

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

2 / 40

Which of the following is not suitable for hire purchase?

3 / 40

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

4 / 40

Market skimming is an example of

5 / 40

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

6 / 40

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

7 / 40

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

8 / 40

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

9 / 40

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

10 / 40

The scope of commerce is limited to

11 / 40

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

12 / 40

A debenture is mortgaged when it is

13 / 40

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

14 / 40

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

15 / 40

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

16 / 40

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

17 / 40

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

18 / 40

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

19 / 40

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

20 / 40

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

21 / 40

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

22 / 40

A partner with an unlimited liability is known as a

23 / 40

The main advantage of sea transport over air transport is

24 / 40

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

25 / 40

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

26 / 40

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

27 / 40

Partnership form of business is most appropriate

28 / 40

The main feature of a holding company is

29 / 40

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

30 / 40

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

31 / 40

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

32 / 40

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

33 / 40

An open cheque is one

34 / 40

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

35 / 40

Dividend is a always expressed as a percentage of total

36 / 40

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

37 / 40

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

38 / 40

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

39 / 40

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

40 / 40

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

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