GCE Commerce 2024
Past Questions

A trader buys goods worth ₦150,000 and sells them for ₦195,000. What is the trader's gross profit margin?

A bill of lading serves as evidence of a contract of carriage AND as a

Which of the following best describes a sole proprietorship?

Eze, Bello, and Chukwu formed a partnership and contributed capitals of ₦120,000, ₦80,000, and ₦60,000 respectively. If the partnership deed is silent on profit sharing, how much of a ₦78,000 profit w…

A trader deposited ₦500,000 in a fixed deposit account at an annual interest rate of 12% for 9 months. How much interest did the trader earn at the end of the period?

Chukwuemeka borrowed ₦200,000 from a commercial bank at a compound interest rate of 10% per annum. If he repays the loan after 2 years, the total amount he will repay is

A trader insures his warehouse worth ₦5,000,000 with two insurance companies: Company A for ₦3,000,000 and Company B for ₦2,000,000. If the warehouse is totally destroyed, how much will Company A pay?

Alhaji Musa took a fire insurance policy on his shop and deliberately set it ablaze to claim compensation. The insurer refused to pay. The legal doctrine that best supports the insurer's refusal is

Which of the following is NOT a function of transport in commerce?

Which of the following best describes the term 'market' in commerce?

The difference between the buying price and the selling price of securities quoted on the stock exchange is called

An investor buys a ₦1,000 bond with a coupon rate of 8% per annum at a market price of ₦800. What is the current yield of the bond?

Alhaji Musa ordered 50 bags of rice at ₦18,000 per bag from Kano Traders. He was granted a trade discount of 10% and a cash discount of 5%. If Alhaji Musa paid promptly, how much did he pay?

A consumer who purchases a product that causes injury due to a manufacturing defect is protected under the legal principle known as

A major reason why countries engage in international trade is that

a) Explain the term 'marketing mix'. (3 marks) b) Describe the FOUR elements of the marketing mix, explaining how each contributes to the success of a business. (12 marks) c) Give ONE reason why a bus…