ensofts


Candle Light To The World


BACK TO EN-SCHOOLCERT

COMMERCE (Objective Questions And Answers)


2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
more
THEORY QUESTIONS
WAEC SYLLABUS

WASSCE 2010

Objectives



1. A bonded warehouse is a place for keeping

A. Contraband goods

B. Dutiable goods

C. Tax free goods

D. Smuggled goods


2. Which of the following can quote its share on the stock exchange

A. Partnership

B. Sole proprietorship

C. Co-operative society

D. Public Limited Company


3. If a business wants to insure against dishonesty of the cashier, he will take

A. A burglary policy

B. An employer’s liability cover

C. A fidelity guarantee cover

D. A consequential loss policy


4. Which of the following describes the reason for international trade?

A. Balance of payment

B. Comparative cost advantage

C. Absolute cost advantage

D. Balance of trade


5. Small scale retailers continue to survive inspite of serious competition from large scale retailer because they

A. Buy from many manufacturers

B. Maintain personal relationship with customers

C. Stock only one line of goods in their stalls

D. Do not separate business money from personal money


ANSWERS

6. Which of the following factors is not to be considered in starting a retail trade?

A. Size of business

B. Nature of business

C. Amount of capital

D. Level of tax payable


7. The import of foreign produced goods to be re-exported is known as

A. Domestic trade

B. Wholesale trade

C. Entrepot trade

D. Counter trade


8. One roof containing a number of shops is a?.

A. Tied shop

B. Mail order firm

C. Department store

D. Self service


9. The selling of article from place to place on foot is

A. Mail order

B. Itinerant trading

C. Barter

D. Self service


10. A company whose shares are not easily transferable is a

A. Private limited company

B. Public limited company

C. Public corporation

D. Company limited by guarantee


ANSWERS

11. Which of the following must be stated in the article of association

A. The objects of the company

B. The registered office address of the company

C. The method of issue and transfer of shares

D. Statement that liabilities are limited


12. Which of the following insurance principle states that a person must be in a position to suffer financially in the event of a loss

A. Proximate cause

B. Indemnity

C. Insurance interest

D. Subrogation


13. Catalogues are mostly used by

A. Chain stores

B. Departmental stores

C. Mail order firm

D. Supermarkets


14. The main function of a thrift and credit cooperative society is to

A. Encourage member by buying cheaply

B. Enable members get the highest profit

C. Help members get legal redress

D. Encourages members to save


15. The exchange of goods for goods in home trade is known as

A. Entrepot trade

B. Trade by barter

C. Commodity trade

D. Distributive trade


ANSWERS

16. Which of the following is the safest way of sending important document through the post?

A. Registered mail

B. Parcel post

C. Letter post

D. Express mail


17. Which of the following is not true of the stock exchange

A. It is a commodity market

B. It provides market for trades on shares

C. Government and companies raise found through it

D. It provides professional advice on investment


18. A cheque issued in January which the holder failed to present until September 1997 is called a?

A. Crossed cheque

B. Traveler’s cheque

C. Post-dated cheque

D. Stale cheque


19. When the buyer of an existing share is to receive the pending dividend, the price is

A. Cum div

B. Ex-div

C. At par

D. At a discount


20. What is the name of the service where a bank makes regular payment on behalf of its customer?

A. Direct debit

B. Credit transfer

C. Standing order

D. Bank draft


ANSWERS

21. The enterprise whose main objective is to provide the public with essential service is known as

A. Cooperative society

B. Partnership

C. Private company

D. Public corporation


22. Which of the following is a more suitable medium for advertising a new tractor

A. Radio

B. Poster

C. Neon sign

D. Trade fair


23. Which of the following is an advertising function?

A. Packaging

B. Persuading

C. Grading

D. Segmenting


24. The document of title to goods being shipped abroad is known as

A. Consignment note

B. Ships manifest

C. Bill of entry

D. Bill of lading


25. The practice whereby customers purchase goods without being attended to by shop assistants is

A. Pre sales service

B. After sales service

C. Self service

D. Impulse buying


ANSWERS

26. In which of the following organizations are members entitle to one vote, irrespective of the number of share held?

A. Public corporation

B. Partnership

C. Limited company

D. Co-operative society


27. Mobile shops involve selling

A. From motor van

B. At a particular spot in the city

C. In multiple shops only

D. From vending machine


28. The provision of adequate number of berths by which ships can load and off-load is the function of the

A. Department of customs and excise

B. Port authority

C. Shipping and forwarding agent

D. National shipping line


29. Which of the following is not a disadvantage of one man business

A. Unlimited liability of owner

B. Life of business limited to life of owner

C. Personal control of business

D. Difficulties in raising additional capital


30. Unlimited liability in business implies that the

A. Risk of the owner is limited only to the amount invested

B. Dept are paid with subvention

C. Properties of the owner should not be used to secure loan

D. Owners private property can be used to settle the business debts


ANSWERS

31. Sole proprietorship is business owned by

A. An individual

B. Two or more persons

C. A registered business subsidiary

D. The government


32. Which of these qualities guarantees the keeping of money for a long period

A. Acceptability

B. Divisibility

C. Durability

D. Homogeneity


33. Which of of the following is not a source of found for sole proprietorships

A. Personal savings

B. Borrowing from friends and relatives

C. Borrowing from financial institution

D. Government bonds


34. Which of the following is not an advantage of partnership

A. Diversified managerial talent

B. Greater financial resources

C. Freedom to terminate business

D. Account is not made public


35. Which of the following is used for single payment of many people at the same time through bank instead of writing separate cheque

A. Debit transfer

B. Credit transfer

C. Certified cheque

D. Crossed chequed


ANSWERS

36. The legal document that gives an individual power to protect his own piece of invention is called

A. Copy right

B. License

C. Patent right

D. Trade mark


37. A mortgage bank is primarily concern with financing the acquisition of

A. Motor vehicle

B. Research equipment

C. Computer machine

D. Dwelling house


38. The work of actuaries is to

A. Underwrite insurance risk

B. Calculate insurance premium

C. Settle insurance claim

D. Asses profit for insurance companies


39. Government financial grant is a source of capital to a

A. Partnership

B. Public limited liability company

C. Public corporation

D. Co-operative society


40. Which of the following is not a feature of co-operative society?

A. Owners are the customers

B. Capital can be repaid to a member

C. Votes are according to share held

D. Dividend is based on patronage


ANSWERS

41. The practice of selling a product bellow the cost price to attract customers to a shop is known as

A. Hedging

B. Loss leader

C. Skimming

D. Wonder-invoice


42. Which of the following is contain in deed of partnership

A. Names and address of partners

B. Ratio for sharing profit and loss

C. Investment of each partner

D. Rate of taxation


43. The publication of fact on firm’s product is called

A. Merchandizing

B. Exhibition

C. Feature article

D. Mass advertizing


44. Which of the following is not a function of a retailer?

A. Providing after sale service

B. Stocking variety of goods

C. Selling in small unit to the consumers

D. Financing manufacturers


45. A firm on the stock exchange which agrees to buy shares not bought after a public offer is?

A. A broker

B. A stag

C. A jobber

D. An underwriter


ANSWERS

46. Which of the following ancillary services makes it possible for goods to be where they are required

A. Communication

B. Banking

C. Transportation

D. Insurance


Use the following information to answer 47 to 49


Ojo bought a bicycle for N20,000, and repaired it at a cost N5,000. He then sold the bicycle for N30,000


47. What was his net profit

A. N35,000

B. N25,000

C. N15,000

D. N5,000


48. What is the percentage of expenses over cost

A. 50%

B. 33%

C. 25%

D. 17%


49. What is the cost of goods sold?

A. N30,000

B. N25,000

C. N20,000

D. N15,000


50. Which of the following mode of transport involve the use of tramps?.

A. Land transport

B. Sea transport

C. Air transport

D. Pipeline transport



WASSCE JUNE 2010 COMMERCE OBJECTIVE TEST

ANSWERS

​1. B 2. D 3. C 4. B 5. B 6. D 7. C 8. C 9. B 10. A 11. C 12. A 13. C 14. D 15. B 16. A 17. A 18. D 19. B 20. C 21. D 22. D 23. B 24. D 25. C 26. D 27. A 28. B 29. C 30. D 31. A 32. C 33. D 34. C 35. C 36. C 37. D 38. B 39. C 40. C 41. B 42. D 43. C 44. D 45. D 46. C 47. D 48. C 49. C 50. B


To Top
Q 1-10
Q 11-20
Q 21-30
Q 31-40
Q 41-50
To 2009
To 2011
To En-Schoolcert

copyright:ensoft2024. company@en-soft.com Phone:2347072716127