Hello and Welcome to SSCE (WAEC and NECO) Practice Test - Commerce 1. You will attempt 50 randomly generated objective questions for 40 minutes. 2. Don't guess answers. Leave answer blank if not sure. Incorrect answers attracts -1 (negative one) and it is cumulative. 3. If time allowed elapsed, your quiz ends immediately and scores will displayed and ranked. 4. Your performance in each of the question attempted alongside step-by-step solutions to attempted questions will be displayed on the screen at the end of the assessment. 5. Fill the form below and Click on the Next button to Begin Full Name (Surname First): Location: When consumers engage in actions that express dissatisfaction with the quantity, price and quality of goods available, such action is termed A. Consumer behaviour. B. Consumerism. C. Consumer education. D. Consumer orientationDBACA voluntary association of business executives within a locality is known as A. Trade Union. B. Consumers' Association. C. Chamber of commerce. D. Trade association.BACDWhich of the following is not pre-sale services? A. Repair and maintenance work. B. Providing detailed information about the goods to be purchased. C. Demonstrating the use of and performance of the products to be sold. D. setting up facilities for storing the product to be bought.DABCWhich of the following is not an economic grouping? A. Lake Chad Basin Commission B. Economic Community of West African State C. European Union D. International Monetary FundCBDAA false statement made by one party with an intention of including the other party to enter into a contract with him is known as A. misrepresentation. B. legal capacity. C. consensus and idem. D. considerationCADBWhich of the following is the function of commerce? A. The conversion of raw materials into semi finished products B. The conversion of semi—finished products into end products C. Provision of services to customers D. The exchange and distribution of goods and services.CBADA ceiling on the quantity of commodity to be imported into the country is called A. ban. B. tariff. C. price limit. D. quota.DBACTrade as a division of commerce is usually classified into A. retail and wholesale. B. import and export. C. Home and foreign. D. visible and invisibleCBDAAn issuing house is an outlet for A. new shares and bonds. B. non listed companies shares. C. existing shares and bonds. D. only gilt-edged securities.DCBAThe last link in the production process is the A. transporter B. wholesaler C. consumer D. retailer.DACBLiquid capital in a business means the A. movable assets of the business. B. authorised capital. C. issued capital. D. Assets easily convertible to cashACBDCarriage forward on an invoice means A. carriage will be paid next time B. carriage will be paid by seller C. carriage will be paid by buyer D. carriage had been paidACBDA cheque drawn by a bank on itself is a/an A. direct debit. B. bank draft. C. bank transfer. D. overdraft.DBACManufacturers may sell goods directly to consumers where goods are I. made to customers' specification. II. advertised by the manufacturer. lll. perishable. IV highly technical. V. widely demanded. A. I, lll and IV only. B. I and lll only. C. ll, IV and V only. D. lll, IV only.DBCADirect sales to consumers by manufacturers is a means of eliminating A. wholesalers only B. retailers only C. middleman D. agent.DACBThe document which specifies the manufacturer from whom goods are to be imported is A. closed indent. B. open indent. C. export invoice. D. consignment note.DABCBanks settle their indebtedness in the A. discount house. B. stock exchange market. C. commercial bank. D. clearing house.DBCAWhich of the following is a feature of supermarkets? A. Gives credit to reliable customers B. Specializes in one line of product C. Goods are on display with price tags D. Does not have to provide storage facilitiesBCDAThe use of current account in business is convenient because A. withdrawal can be made at any time B. deposits earn higher interest C. loans are always available D. notices are necessary before withdrawalsACBDA personal computer on sale in an office equipment shop is an example of A. stock B. fixed asset C. liability D. fixed capitalACDBWhich of the following protects consumers against poor quality goods? A. Chambers of Commerce B. Standard Organisation C. Trade Association D. Manufacturers AssociationDBACWhich of the following is not a function of warehousing? A. Creating scarcity of goods B. stabilization of price C. Production ahead of demand D. Storage of goods.BADCEncouraging a high quality of members' products through the circulation of Research information is a function of A. Manufacturers Association. B. Trade Union. C. Employers’' Association. D. Consumers' Association.CBADWhich of the following is not a principle of insurance? A. Insurabe interest. B. Subrogation. C. Surrender value. D. Proximate cause.ABCDThe difference between the cost price and selling price of an article is A. commission. B. mark-up. C. rebate. D. discount.DABCWhich of the following distinguishes home trade from foreign trade? A. Payments are easily arranged B. Taxies are levied. C. Goods have to be warehoused. D. Middlemen are not required.ADCBThe cost of telephone conversation is determined by the A. number of words spoken B. person sending the message C. Duration of the conversation D. urgency of the message conveyedCABD The box marked ‘Y’ stands for A. Wholesale. B. Indirect services. C. Aids to trade. D. ForeignACBDWhich of the following is a means of payment? A. I. O. U B. Postal order C. Promissory note. D. C. I FADCBThe size of profit of a business is measured by the A. closing stock. B. opening stock. C. total purchases. D. rate of turnover.BADCA written instruction by a current account holder to his bank to debit his account at regular intervals with a specified amount for a given period is known as A. standing order. B. money order. C. bank draft. D. overdraft.DCBAWhich of the following countries is not a member of the Lake Chad Basin Commission A. Nigeria. B. Chad. C. Gabon. D. CamerounBACDThe entitlement of a debenture holder from a company's income is known as A. commission B. interest. C. lien. D. dividend.DCABThe object clause of a limited liability company is stated in the A. Memorandum of Association B. Article of Association C. Certificate of incorporation D. Trading certificateDCABA collective bundle of shares is called A. debenture. B. stock. C. bond. D. share.DACBA person who undertakes responsibility for forming a new company is A. auditor B. solicitor C. registrar D. promoter.BACDA physical restriction placed on the quantity of goods of that can be imported is A. a ban B. a quota C. an excise duty D. an import tax.BADCA licensed person who is authorized to sell to the highest bidder is A. principal. B. factor. C. broker. D. auctioneer.BDCAThe exclusive right of an author over his book is A. Trade mark. B. Brand name. C. Copy right. D. Patent right.CABDOne of the principles of insurance is A. consequential loss. B. fidelity guarantee. C. proximate cause. D. surrender value.ABCDIndustrial occupation does not involve the A. growing and extraction of raw materials. B. use of machinery. C. construction and manufacturing of goods. D. movement of people and goods.BACDThe various rights attached to different classes of shares are stated in the A. articles of association B. memorandum of association C. balance sheet D. prospectusACBDAd valorem duties are based on the A. importance of the goods imported B. value of the goods imported C. weight of the goods imported D. nature of the goods imported.CBADThe bank on which a cheque is drawn is known as the A. drawer. B. drawee. C. cashier. D payee.ACBDThe last link in the channel of distribution is the A. retailer. B. consumer. C. wholesaler. D. producer.DBCAThe document issued by the registrar of companies to permit a public limited company to commence business is A. Memorandum of Association. B. Certificate of Incorporation. C. Article of Association. D. Trading Certificate.ABDCIn marine insurance when a particular cargo is thrown into the sea in order to prevent the ship from sinking, the type of marine loss is. A. particular average loss. B. general average loss. C. total average loss. D. constructive average loss.ABDCVoyage policy insurance is associated with ___ A. hre B. life C. marine D. burglaryBCDAThe development of trade in West Africa was aided by the A. emergence of traditional rulers. B. arrival of the Portuguese. C. introduction of tax payment. D. introduction of money.DCABAn efficient transport system enables a trader to A. widen the market for his products. B. avoid customs examination of goods. C. adopt better price policy. D. reduce cost of production.DCBA51 out of 50Are you ready to submit? You have enough time to attempt skipped questions and review your answers by clicking the Previous Button, else click the Submit Quiz button to see your results! waziz conteh scores (-21) out of 50 Share this:TwitterFacebookLike this:Like Loading... Categories: CommercePractice Tests (FREE Access) Tags: SSCE (WAEC and NECO) Practice Test - Commerce 0 Comments Leave a Reply Cancel reply You must be logged in to post a comment. 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