Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 1: The nominal value of a share as specified in the Memorandum of Association and the share certificate is the Options:
  A) discounted value
  B) stock value
  C) face value
  D) par value
  Show Answer
  The correct answer is C .
• Question 2: The strategy adopted by a firm that ceases to operate at one or more locations because of inactivity is? Options:
  A) rejuvenation
  B) focus
  C) diversification
  D) consolidation
  Show Answer
  The correct answer is C .
• Question 3: The major determinant of fire insurance premium is the? Options:
  A) type and structure of the property to be insured
  B) usefulness of the property to the owner
  C) owner of the property to be insured
  D) extent of fire damage anticipated
  Show Answer
  The correct answer is A .
• Question 4: Under normal circumstances, a business enterprise can be ideally structured Options:
  A) by product, function or territories
  B) around the personalities in the enterprise
  C) on the ruling of the management
  D) on the basis of an order from stockholders
  Show Answer
  The correct answer is A .
• Question 5: A software application which enables a user to display and interact with texts, images and videos is the? Options:
  A) web server
  B) Internet Protocol
  C) coreldraw
  D) web browser
  Show Answer
  The correct answer is C .
• Question 6:

  Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

  	₦		₦
  Opening stock Purchase	1000 7000	Sales	8000
  Closing Stock	3000

  Trading Expenses

  Electricity Salaries Rent Depreciations

  ₦ 135 875 180 210

  From the figures given, calculate

  Gross profit

  Options:
  A) 300
  B) 3000
  C) 6000
  D) 11000
  Show Answer
  The correct answer is B .
• Question 7:

  In a public limited liability company, planning is carried out by

  Options:
  A) Employees
  B) The chairman of the board
  C) Shareholders
  D) Manufacturer’s warehouse
  Show Answer
  The correct answer is C .
• Question 8: Materials used for further production of goods and services are known as? Options:
  A) export goods
  B) intermediate goods
  C) capital goods
  D) consumer goods
  Show Answer
  The correct answer is C .
• Question 9: Which of the following is a development bank in Nigeria? Options:
  A) Union Bank Plc
  B) First Bank Plc
  C) First City Monument Bank
  D) Federal Mortgage Bank
  Show Answer
  The correct answer is D .
• Question 10: The headquarters of the lake Chad Basin Commission is in? Options:
  A) Niamey
  B) N'Djamena
  C) Abuja
  D) Lagos
  Show Answer
  The correct answer is B .