COMMERCE PAST QUESTIONS (SSCE)

SSCE/NECO/GCE (COMMERCE)

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.

Goodluck!

School Portal Nigeria

1 / 40

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

ordinary share

preference share

deferred share

cumulative preference share

2 / 40

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

proximate cause

abandonment

contribution

subrogation

3 / 40

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

capital owned

gross profit

net profit

capital employed

4 / 40

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

premium

trade discount

free sample

gift

5 / 40

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

customs drawback

excise drawback

export duty

import duty

6 / 40

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

certificate of posting

registered letter

recorded delivery

express letter

7 / 40

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

providing parking space for vehicles

providing facilities for water traffic movement

providing storage and warehousing facilities at the docks

controlling pollution in rivers

8 / 40

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

decreasing import

increasing exports

devaluation

increasing imports

9 / 40

Dividend is a always expressed as a percentage of total

working capital

volume of business

earnings of the business

value of shares owned

10 / 40

Farming is an activity that falls under

tertiary occupation

extractive occupation

commercial occupation

secondary occupation

11 / 40

A debenture is mortgaged when it is

redeemable

not secured on the assets of a company

secured on the assets of a company

irredeemable

12 / 40

An open cheque is one

which has no name

which can be cashed over the counter

on which the amount is written only in figures

which has no specific amount written on it

13 / 40

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

commerce

wholesaling

retailing

advertising

14 / 40

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

I.M.F

U.N.C.T.D

A.C.P

G.A.T

15 / 40

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

clearing

negotiating

accepting

discounting

16 / 40

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

slow pace of development of member countries

lack of capital

lack of commitment of member states

sabotage by other organizations

17 / 40

The main feature of a holding company is

accepting responsibilities beyond the aims of private enterprises

that it has financial control over other companies

that resources are used for the interest if the community

that it has profit-sharing schemes for employees

18 / 40

Market skimming is an example of

sales promotion

pricing policy

advertising

consumerism

19 / 40

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

industrialization

nationalization

commercialization

privatization

20 / 40

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

frustration

performance

breech

consideration

21 / 40

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

patent right

branding

packaging

22 / 40

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

discount rate

interest rate

market rate

bank rate

23 / 40

The scope of commerce is limited to

home and foreign trade

trade and aids-to-trade

wholesale and retail trade

wholesale and entrepot trade

24 / 40

Which of the following is a method of sales promotion?

trade fair

television broadcast

poster display

radio gingles

25 / 40

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

jobber

promoter

broker

Bull

26 / 40

The main advantage of sea transport over air transport is

speed

patronage

safety

capacity

27 / 40

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

tanker

ferry

coaster

launch

28 / 40

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

floats its shares on the shock exchange market

is owned by a maximum of twenty members

must publish its audited account

restricts the rights to transfer its shares

29 / 40

Which of the following is not suitable for hire purchase?

refrigerators

printing

textiles

furniture

30 / 40

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

speed post

recorded deliver

poste restante

reply paid

31 / 40

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

preferential duty

value added tax

excise draw bank

excise duty

32 / 40

The term legal tender refers to

coins and cheques

cheque and bank notes

postal and money orders

coins and bank notes

33 / 40

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

balance sheet

prospectus

articles of association

memorandum of association

34 / 40

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

easy transferability of shares

Less taxation by government

limited liability of shareholders

access to retained earnings

35 / 40

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

bill of exchange

insurance policy

bill of lading

certificate of origin

36 / 40

Partnership form of business is most appropriate

for nonprofit making ventures

where the liability of members is limited.

where professionals are needed

where very large capital is required

37 / 40

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

packaging

warehousing

branding

advertising

38 / 40

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

skilled personnel

reserve

goodwill

right issue

39 / 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?

LCBC

OAU

OPEC

ECOWAS

40 / 40

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

current assets less current liabilities

total assets less current liabilities

current assets less stock

total assets less total liabilities

Your score is

Please submit your rating and feedback. Thank you

Leave a Comment Cancel Reply