SSCE (WAEC and NECO) Practice Test – Commerce

Which of the following is not a function of the Ports Authority?

A. Providing facilities for loading and off-loading of vessels.
B. Collecting duck dues.
C. Providing enough ships for the country.
D. Dredging of harbours.

A trader’s turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock D3,000

The average stock is

A. D5, 000.    B. D3, 000.    C. D2,500.    C. D2, 000.

To endorse a cheque means to

A. write and sign one's name at the back of the cheque
B. write "pay cash" on the cheque
C. cross the cheque
D. stop the payment of the cheque

The process of winding up a public limited company by a court order is known as

A. termination
B. dissolution
C. voluntary liquidation
D. compulsory liquidation.

Direct sales to consumers by manufacturers is a means of eliminating

A. wholesalers only    B. retailers only    C. middleman    D. agent.

A ltd. Company has an authorized capital of 2,000,000 shares of D5 each. If the company issued 1,200,000 shares, it issued capital is

A. D10,000,000
B. D6,000,000
C. D4,000,0000
D. D2,000,000

Which of the following protects consumers against poor quality goods?

A. Chambers of Commerce
B. Standard Organisation
C. Trade Association
D. Manufacturers Association

The 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.

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 orientation

The turnover of trade is the

A. number of times the stock is sold.
B. total sales made during a period.
C. profit made during the period.
D. total purchase made during the period.

The difference between the cost price and selling price of an article is

A. commission.    B. mark-up.    C. rebate.    D. discount.

The ancillary to trade which ensures that people have access to information pertaining to goods is

A. insurance    B. advertising    C. warehouse    D. banking.

Current account holders withdraw money by means of

A. credit card.    B. draft.    C. withdrawal form.    D. cheque.

Public enterprises are financed mainly by

A. the shareholders    B. commercial banks    C. government grants    D. mortgage banks

A contract made between a ship owner and a merchant for the carriage of cargo is

A. ships' manifest    B. charter party    C. freight forward    D. cargo service

A market which deals in the purchase and sale of second-hand securities is the

A. Stock Exchange    B. Building Society    C. Shippers Council    D. Co-operative Society.

A term which describes the value of business connections made by a company over the years is known as

A. patent    B. copyright    C. goodwill    D. trade mark

A person who earns extra commission for guaranteeing debts is a

A. factor    B. broker    C. commission agent    D. del-credere agent

The cooperative society that performs a combination of the functions of other types of co-operatives is called

A. consumer cooperative.
B. multipurpose cooperative.
C. producer cooperative.
D. thrift and credit cooperative

The type of transport a manufacturer will use will be influenced by

A. type of sales
B. the tax on the goods
C. the customer’s age
D. nature of goods