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Monday, 06 April 2026
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Commerce Past Questions and Answers

Commerce Questions

Question 21:
One of the effects of the devaluation of the Naira is that the
  • A Goods that can be imported with the naira have become cheaper
  • B Value of other currencies relative to the naira have become cheaper
  • C Goods that can be exported from Nigeria have become costlier
  • D Imports that can be bought with the naira have become costlier
View Answer & Explanation
Question 22:
Drawing two parallel lines across a cheque means that it has to be paid into the account of the
  • A Payee
  • B Drawer
  • C Drawee
  • D Payer
View Answer & Explanation
Question 23:
The financial institution established to boost Nigeria's trade with the rest of the world is called
  • A Nigerian Deposit Insurance Corporation
  • B Nigerian Economic Reconstruction Fund
  • C Nigerian Industrial Development Bank
  • D Nigerian Export-Import Bank
View Answer & Explanation
Question 24:
Which of the following is both direct and indirect credit enterprise?
  • A A co-operative and thrift society
  • B Retail co-operative society
  • C Consumer co-operative society
  • D Wholesaler co-operative society
View Answer & Explanation
Question 25:
The business in the stock exchange is characterized essentially by
  • A Dealing
  • B Brokerage
  • C Speculations
  • D Transactions
View Answer & Explanation