GCE Commerce 2020
Past Questions
17+ verified 2020 GCE Commerce practice questions with Worked answers.
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The branch of commerce that deals with the removal of the hindrance of person is
The hindrance of time in commerce is overcome by
Which of the following statements correctly distinguishes industry from commerce?
Entrepôt trade is best described as
Which of the following aids to trade is primarily responsible for bridging the gap of PERSON between producers and consumers?
The statutory minimum number of persons required to form a public limited company in Nigeria under the Companies and Allied Matters Act (CAMA) 2020 is
Which principle of insurance states that the insured must have a financial interest in the subject matter of insurance at the time of loss?
Mr. Adeyemi's car worth ₦4,000,000 is insured for only ₦2,000,000. If he suffers a partial loss of ₦1,200,000, how much will the insurance company pay under the average clause?
A trader in Lagos ships goods to a buyer in Port Harcourt by sea. The document issued by the shipping company that serves as a receipt, a contract of carriage, and a document of title is called a
A manufacturer of beverages in Lagos sells its products to a wholesaler, who sells to a retailer, who finally sells to the consumer. This channel of distribution is described as
An importer in Lagos stores 500 cartons of electronics in a bonded warehouse. He withdraws 200 cartons for local sale and re-exports the remaining 300 cartons. Import duty is charged at ₦2,000 per car…
Which of the following best distinguishes a stockbroker from a jobber on the stock exchange?
In a typical sequence of trade documents, which of the following represents the CORRECT order from the buyer's initial inquiry to final settlement?
The Consumer Protection Council (CPC) in Nigeria was established under which Act?
a) Explain the meaning of each of the following types of bank accounts: i) Current account ii) Savings account iii) Fixed deposit account (6 marks) b) State and explain FOUR services rendered…
a) Define the term 'marketing'. (2 marks) b) Explain FIVE functions of marketing in a modern economy. (10 marks) c) State THREE differences between marketing and selling. (3 marks)
a) Define the term 'business document' as used in commerce. (2 marks) b) State FIVE types of business documents used in a typical buying and selling transaction and explain the purpose of each. (10 ma…