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