[ays_quiz id='78']
SS 3 COMMERCE PAST QUESTIONS (WAEC/NECO) 0% 12 SSCE/NECO/GCE (COMMERCE) COMMERCE PAST QUESTIONS APP These are Commerce Past Questions. Questions will be picked at random from the question bank.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! 1 / 50 Which of the following is not suitable for hire purchase? textiles printing furniture refrigerators 2 / 50 C & F as a price quotation in foreign trade means that the buyer pays for insurance only has to pay for cost and freight is responsible for clearing and forwarding the goods pays for both the freight and insurance 3 / 50 Who is responsible for the payment of the bill in documentary credits? exporter’s bank importer’s bank importer exporter 4 / 50 The scope of commerce is limited to home and foreign trade trade and aids-to-trade wholesale and entrepot trade wholesale and retail trade 5 / 50 Which of the following involves the delivery of mails to a traveler without fixed address? speed post recorded deliver reply paid poste restante 6 / 50 Which of the following organizations aim at providing relief for countries facing adverse balance of payment? A.C.P U.N.C.T.D I.M.F G.A.T 7 / 50 The West Africa Clearing House (WACH) was established coordinate the efforts of member states to tap their natural resources dredge the rivers in West Africa for easy navigation promote the use of currencies of all members for inter-regional trade expand the volume of traffic within member countries 8 / 50 Which of the following can be defined as trade and aid to trade? wholesaling advertising retailing commerce 9 / 50 Market skimming is an example of advertising consumerism pricing policy sales promotion 10 / 50 Which of the following is not used to correct an adverse balance of payment? devaluation increasing exports increasing imports decreasing import 11 / 50 The process of dealing with a cheque once it has been paid into the creditor’s bank is clearing accepting discounting negotiating 12 / 50 A debenture is mortgaged when it is secured on the assets of a company irredeemable redeemable not secured on the assets of a company 13 / 50 A refund of the duty collected on goods imported and processed for re-export is preferential duty excise draw bank value added tax excise duty 14 / 50 Which of the following is true of rail transport? has no fixed route cheaper over long distances suitable for perishable good it does not require trans-shipping of goods 15 / 50 Which of the following provides a proof of posting and that the item has got to the addresses? express letter certificate of posting recorded delivery registered letter 16 / 50 The refund made on goods re-exported after being imported is known as customs drawback import duty excise drawback export duty 17 / 50 Which of the following is a means by which a contract of agency could be terminated? lack of consideration mutual agreement failure to insure the contract payment of commission 18 / 50 Which of the following is an intangible asset of a firm? skilled personnel reserve right issue goodwill 19 / 50 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 OPEC OAU ECOWAS 20 / 50 Which of the following is used to show that goods imported were produced in an ECOWAS member country? certificate of origin bill of lading insurance policy bill of exchange 21 / 50 Which of the following terms is used in marine insurance when the cargo suffers partial loss? open cover general average floating policy particular average 22 / 50 Which of the following gives businessmen the opportunity to buy shares of public limited companies? the stock exchange discount houses commercial banks insurance companies 23 / 50 Who among the following does not function in the stock exchange market? promoter jobber Bull broker 24 / 50 A partner with an unlimited liability is known as a dormant partner active partner general partner norminal partner 25 / 50 When an insurance company indemnifies the insured and takes over his rights, this is known as subrogation contribution abandonment proximate cause 26 / 50 The various rights attached to different classes of shares are stated in the articles of association balance sheet prospectus memorandum of association 27 / 50 If the amount of dividend paid varies according to the level of profit; what type of share is involved? ordinary share deferred share preference share cumulative preference share 28 / 50 If a share is sold at a price below its first value, it is sold at premium at par at a discount above par 29 / 50 A label as a product such as “Three Crown Milk” is a form of patent right branding copyright packaging 30 / 50 Which of the following is not a function of the ports Authority? providing facilities for water traffic movement providing storage and warehousing facilities at the docks providing parking space for vehicles controlling pollution in rivers 31 / 50 A retailer sells his products at “buy-two-take-three”. The sales promotion method referred to is free sample trade discount premium gift 32 / 50 A retirement insurance policy which enables the assured to receive income for a specific period is endowment whole life annuity fidelity guarantee 33 / 50 Partnership form of business is most appropriate where very large capital is required where professionals are needed where the liability of members is limited. for nonprofit making ventures 34 / 50 The main feature of a holding company is that it has profit-sharing schemes for employees that it has financial control over other companies accepting responsibilities beyond the aims of private enterprises that resources are used for the interest if the community 35 / 50 An advantage of a public limited company over a private one is the Less taxation by government access to retained earnings limited liability of shareholders easy transferability of shares 36 / 50 The minimum charge at which the central bank lends to commercial banks is called market rate bank rate interest rate discount rate 37 / 50 Which of the following is not an obstacle to the achievement of the objective of ECOWAS? lack of capital sabotage by other organizations lack of commitment of member states slow pace of development of member countries 38 / 50 The production of goods in anticipation of demand is possible because of the existence of packaging advertising branding warehousing 39 / 50 A specially designed container to convey crude oil or liquid from one’ location to another is a tanker coaster ferry launch 40 / 50 The main advantage of sea transport over air transport is capacity safety patronage speed 41 / 50 Which of the following is not a method of discharging a contract? consideration frustration performance breech 42 / 50 The process by which the government takes over the ownership ad control of an existing private business is nationalization industrialization commercialization privatization 43 / 50 An open cheque is one which has no name which has no specific amount written on it on which the amount is written only in figures which can be cashed over the counter 44 / 50 Farming is an activity that falls under tertiary occupation extractive occupation secondary occupation commercial occupation 45 / 50 The term legal tender refers to postal and money orders coins and cheques cheque and bank notes coins and bank notes 46 / 50 Dividend is a always expressed as a percentage of total volume of business working capital earnings of the business value of shares owned 47 / 50 The money used by Njie & Co. Ltd in running the day-to-day activities of the business is represented by total assets less total liabilities total assets less current liabilities current assets less stock current assets less current liabilities 48 / 50 Which of the following is a method of sales promotion? trade fair television broadcast poster display radio gingles 49 / 50 Total assets minus current liabilities is equal to a company’s capital owned net profit gross profit capital employed 50 / 50 A private company is one which must publish its audited account must publish its audited account floats its shares on the shock exchange market restricts the rights to transfer its shares must publish its audited account is owned by a maximum of twenty members Your score is LinkedIn Facebook Twitter VKontakte 0% Restart quiz Send feedback Practice also: SS 3 CIVIC EDUCATION PAST QUESTIONS (WAEC/NECO) SS 3 CHRISTIAN RELIGIOUS STUDIES PAST QUESTIONS (WAEC/NECO) SS 3 CHEMISTRY PAST QUESTIONS (WAEC/NECO) SS 3 BIOLOGY PAST QUESTIONS (WAEC/NECO) SS 3 AGRIC SCIENCE PAST QUESTIONS (WAEC/NECO)
