Commerce JAMB, WAEC, NECO AND NABTEB Official Past Questions

337

A retail store that sells a single product from a particular manufacturer is a

  • A. tied shop
  • B. shopping mall
  • C. hypermarket
  • D. chain store
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338

Which of the following groups would advocate for the supply of constant electricity to households?

  • A. consumers' association
  • B. credit union
  • C. Employers' association
  • D. Labour union
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339

A partner who contributes only his name to the formation of a partnership is

  • A. a nominal partner
  • B. a limited partner
  • C. a general partner
  • D. an active partner
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340

Sales ———————————– #50,000
Debtors ——————————– #10,000
Cash-in-hand ————————–#5,000
Opening stock ————————-#30,000
Creditors ——————————- #8,000
Purchases —————————– #16,000
Overdraft ——————————- #12,000
Closing stock ————————– #10,000

Calculate the gross profit.

  • A. #35,000.00
  • B. #20,000.00
  • C. #15,000.00
  • D. #14,000.00
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341

 

Use the information below to answer question 13 and 14

  #
Sales 50,000.00
Debtors 10,000.00
Cash-in-hand 5,000.00
Opening stock 30,000.00
Creditors 8,000.00
Purchases 16,000.00
Overdraft 12,000.00
Closing stock 10,000.00

 

calculate the working capital.

  • A. #35,000.00
  • B. #20,000.00
  • C. #15,000.00
  • D. #14,000.00
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342

An internal source of finance to an entrepreneur is

  • A. trade credit
  • B. retained earning
  • C. overdraft
  • D. debenture
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343

Which of the following documents would a shareholder inspect to know his voting rights?

  • A. Articles of Association
  • B. Certificate of Incorporation
  • C. Certificate of Trading
  • D. Memorandum of Association
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344

A retail business that sells goods by post, using catalogues is a

  • A. chain store
  • B. department store
  • C. mail order firm
  • D. shopping mall
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345

Average stock is derived by adding

  • A. closing stock to purchases divided by 2
  • B. closing stock to opening stock
  • C. opening stock to closing stock divided by 2
  • D. opening stock to purchases
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346

A group of sellers who pool their resources to buy goods in large quantities and sell to its members is a

  • A. wholesale cooperative society
  • B. thrift and credit society
  • C. consumer cooperative society
  • D. chamber of commerce
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347

Which of the following organizations provide essential goods and services at low cost to citizens?

  • A. Thrift societies
  • B. public enterprises
  • C. private companies
  • D. cooperative societies
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348

The resources put together to create goods and services are

  • A. working capital
  • B. producer goods
  • C. factors of production
  • D. consumer goods
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349

The service of a retailer is part of production because it

  • A. creates a link between consumers and producers
  • B. enables finished goods to reach consumers
  • C. increases consumers' standard of living
  • D. is a commercial occupation
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350

The of the products of the construction industry is a

  • A. piece of cloth
  • B. bag of cement
  • C. television
  • D. chair
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351

The growth of Pro commerce is not enhanced by

  • A. development of modern forms of production
  • B. government participation in business
  • C. high population growth
  • D. low per capita income
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352

The provision of services is classified under

  • A. batch production
  • B. flow production
  • C. secondary production
  • D. tertiary production
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353

An article used as a means of exchange in the early days of trade in West Africa was

  • A. Cedi
  • B. Cowrie
  • C. Dalasi
  • D. Naira
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354

The strategy adopted by a firm that ceases to operate at one or more locations because of inactivity is

  • A. consolidation
  • B. rejuvenation
  • C. diversification
  • D. focus
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355

NACCIMA stands for 

  • A. Nigerian American Centre for Culture, Industries, Mines and Arts
  • B. Nigerian Association for Culture, Civics, Industries, Minerals and arts Arts
  • C. National Agency for Culture, Civilization, Investment, Manufacturing and Agriculture
  • D. Nigeria Association of Chambers of Commerce, Industries, Mines and Agriculture
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356

The main documents sent to an importer of goods by the exporter are

  • A. bill of lading, invoice, insurance policy, consular invoice, certificate of origin and bill of exchange
  • B. indent, bill of lading, certificate of origin, invoice and bill of exchange
  • C. certificate of origin, bill of exchange, invoice, insurance policy, indent and bil of lading
  • D. invoice, consular invoice, certificate of origin, freight note, indent and insurance policy
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357

The above chart represents the

  • A. promotion mix relationship
  • B. marketing mix relationship
  • C. advertising mix relationship relationship
  • D. product mix relationship
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