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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.


School Portal Nigeria

1 / 40

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

2 / 40

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

3 / 40

Farming is an activity that falls under

4 / 40

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

5 / 40

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

6 / 40

A partner with an unlimited liability is known as a

7 / 40

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

8 / 40

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

9 / 40

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

10 / 40

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

11 / 40

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

12 / 40

The scope of commerce is limited to

13 / 40

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

14 / 40

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

15 / 40

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

16 / 40

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

17 / 40

An open cheque is one

18 / 40

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

19 / 40

Which of the following is a method of sales promotion?

20 / 40

The main feature of a holding company is

21 / 40

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

22 / 40

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

23 / 40

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

24 / 40

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

25 / 40

A debenture is mortgaged when it is

26 / 40

The term legal tender refers to

27 / 40

Which of the following is not suitable for hire purchase?

28 / 40

Dividend is a always expressed as a percentage of total

29 / 40

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

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?

31 / 40

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

32 / 40

The main advantage of sea transport over air transport is

33 / 40

Market skimming is an example of

34 / 40

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

35 / 40

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

36 / 40

Partnership form of business is most appropriate

37 / 40

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

38 / 40

Which of the following is true of rail transport?

39 / 40

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

40 / 40

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

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