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Wednesday, 15 April 2026
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Commerce Past Questions and Answers

Commerce Questions

Question 2166:
A group of public limited companies that commonly own a joint venture is known as
  • A Holding company
  • B Consortium
  • C Cartel
  • D Trust
  • E Merger
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Question 2167:
Which of the following clearly defines business?
  • A The process of planning, coordinating, organising and controlling
  • B The act of achieving goals with the help of others
  • C The act of buying and selling
  • D Sole proprietorship, Partnership and Public Limited Companies
  • E Any productive activity undertaken for profit motive
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Question 2168:
Which of the following ensures that the quality of a product is maintained?
  • A Price Control Board
  • B Chamber of Commerce
  • C Food and Drugs Act
  • D Standards Organisation of Nigeria
  • E Manufactures Association of Nigeria
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Question 2169:
Which of the following will enable customs officers to correctly assess import duties on goods?
  • A Pro-forma invoice
  • B Bill of exchange
  • C Documentary credit
  • D Consular invoice
  • E Bill of laden
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Question 2170:
An insurance policy which benefits one's family only is in the event of one's death is known as
  • A A comprehensive insurance
  • B A whole-life insurance
  • C An endowment policy
  • D An annuity
  • E A third party insurance
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