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Wednesday, 15 April 2026
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Commerce Past Questions and Answers

Commerce Questions

Question 2191:
If Ade issues a Union Bank cheque to Chukwu, the Union Bank is the
  • A Drawee
  • B Payee
  • C Drawer
  • D Acceptor
  • E Creditor
View Answer & Explanation
Question 2192:
Which of the following is the clearing house for all the banks in the country?
  • A The Federal Mortgage Bank of Nigeria
  • B The Nigerian Industrial Development Bank
  • C The Central Bank of Nigeria
  • D The Nigerian Bank for Commerce and Industry
  • E The National Bank of Nigeria
View Answer & Explanation
Question 2193:
Commerce developed as a result of
  • A Speculation
  • B Competition
  • C Specialization
  • D Importation
  • E Exportation
View Answer & Explanation
Question 2194:
An overdraft can only be granted to the holder of a
  • A Fixed deposit
  • B Savings deposit
  • C Loan account
  • D Current account
  • E Deposit account
View Answer & Explanation
Question 2195:
Which of the following is not a source of capital to a partnership?
  • A Buying on credit
  • B Ploughed back profit
  • C Borrowing
  • D Shares
  • E Personal savings
View Answer & Explanation