GCE Commerce 2021
Past Questions

Which of the following is NOT an aid to trade?

If a wholesaler sells goods to a retailer at a trade discount of 20% on a list price of ₦80,000, and the retailer later sells all the goods at ₦90,000, what is the retailer's gross profit?

Which of the following best describes entrepôt trade?

A Lagos-based importer purchased goods worth $50,000 from a Chinese supplier. The agreed trade term is CIF Lagos. This means the Chinese supplier is responsible for paying

Under a letter of credit arrangement in international trade, the bank that opens the credit on behalf of the importer is referred to as the

A statutory corporation differs from a public limited company in that a statutory corporation

When the Central Bank of Nigeria sells government securities to commercial banks, the likely effect on the economy is that

Which of the following types of account would be MOST suitable for a businessman who makes frequent withdrawals and deposits daily?

The principle of insurance that prevents the insured from making a profit from an insurance claim is the principle of

After an insurance company compensates a policyholder for a stolen vehicle that is later recovered, the insurer's right to take ownership of the recovered vehicle is based on the principle of

The type of transport most suitable for the movement of crude oil over long distances within Nigeria is

A freight forwarder performs all of the following functions EXCEPT

The principle of 'common carrier' in road transport law means that the carrier is obliged to

In international trade communication, the term 'EDI' refers to a system that

Which of the following is NOT a function of packaging in marketing?

Eze's Supermarket buys a carton of biscuits for ₦4,800 and sells it at a mark-up of 25% on cost. What is the selling price of the carton?

A warehouse receipt is BEST described as

A cooperative warehouse is MOST likely to be established by

An investor holds 2,000 ordinary shares in a company. The company declares a dividend of ₦3.50 per share. What is the total dividend received by the investor?

The stock exchange is best described as a market where

A debit note is issued by a seller to a buyer when

a) What is meant by the term 'entrepot trade'? (2 marks) b) Explain THREE problems that hinder the growth of foreign trade between countries. (9 marks) c) i) Define advertising as an aid to trade. (2 …

a) Explain the meaning of the following terms as used in business documents: i) Trade discount ii) Cash discount iii) E. & O.E. iv) Carriage forward (8 marks) b) State FOUR pieces of infor…