(Commerce 2022) Model past questions and answers

Jamb Commerce (2022) Questions and Answers 1 - 10

1. A demonstration of social responsibility by a business is the payment of

2. Freight note is a document

3. Spot market goods are thoe which are available for

4. The process of dividing tasks into jobs and departments and delegating authority is known as

5. The scope of economic activities can be enlarged by

6. Ships used for international transport are

7. A customer with ABC Plc. sent money through his account to his sister's account in another branch. This is an example of _____

8. The saying that the 'customer is always right' describes the doctrine of

9. The act of placing goods in glass shields in front of shops to attract passersby is

10. One of the function of the port authority is

Jamb Commerce (2022) Questions and Answers 11 - 20

11. An organization of producers of similar produce, which contros output with the intention to fix price is a _____

12. Which of the following has power to order withdrawal of a particular food item from circulation?

13. The income generated from tourism forms part of the country's _____

14. The main idea of the maarketing concept is that all the firm's plans and operations should be _____

15. Which of the following instruments of payment could be used in international trade?

16. A peron who is for the purpose of bringing his principal into contractual relationship with third parties is _____

17. One of the functions of the ports authority is _____

18. Hire pruchase is advantageous to the seller in that _____

19. When two or more companies agree to execute a project too large for one to handle, this is referred to as _____

20. Given: I. Retail, II. Export, III. Transport, IV. Import, V. Insurance, VI. Banking and finance, VII. Wholesale, VIII. Communication. Which of the above are aids to trade?

Jamb Commerce (2022) Question and Answers 21 - 30

21. Which of the following activities is not an example of the extractive industry?

22. Production is complete when products reach the _____

23. A contract will not be discharged through _____

24. When a vendor supplies newspaper from house to house and across the streets, the element of marketing mix involved is _____

25. The main advantage of using cinema as an advertising medium is that it is _____

26. A new offer of contract that terminates the original offer is _____

27. Booklets containing a range of products, their uses and prices are called _____

28. One of these is not a major in the productio process

29. Which of the following contributed least to the evolution of commercial activities in Nigeria?

30. When a business enterprise provides free service to its environment, the service is said to be a _____

Jamb Commerce (2022) Question and Answers 31 - 40

31. The reduction of import duties among the members' countries of ECOWAS is an example of a _____

32. Which of these is both merit and demerit in partnership?

33. On liquidation of a public limited liability company, the residual owners are the _____

34. A partnership may be automatically dissolved due to the following factors except _____

35. When two insurers are liable under a given common policy, the principle of insurance that applies is _____

36. The central bank differs from commercial banks because it?

37. All activities aimed at creation of a good image for an organization are referred to as _____

38. A bus driver operating between Ibadan and Kano pledged the owner's credit in Ilorin in order to have the engine repaired and the bill sent to the owner. This is a case of _____

39. The main factors that determine the value of a stock on the Stock Exchange are dividends and _____

40. Which of the following is classified under current assets?

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