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 1011: The difference between a private are public limited liability company is that the former Options:
  A) Is unable to declare and pay dividend.
  B) Has a higher number of share holder
  C) Is unable to offer shares to the public.
  D) pays higher salaries to its member
  Show Answer
  The correct answer is C .
• Question 1012: An advantage of the Second-Tier Securities Market to an economy is in Options:
  A) creating avenues for investment
  B) regulating competition amongst companies
  C) granting financial assistance to consumers
  D) increasing companies profit margins
  Show Answer
  The correct answer is A .
• Question 1013: An agency contract must involve? Options:
  A) a principal and a consumer
  B) a principal and a producer
  C) a principal and a third party
  D) a principal and an agent
  Show Answer
  The correct answer is D .
• Question 1014: The main motive of chambers of commerce and trade association is to? Options:
  A) assist governemnt in achieving its objective
  B) protect the interest of consumers
  C) maximize profit
  D) protect and promote the interests of members
  Show Answer
  The correct answer is D .
• Question 1015: The activities of consumers association in Nigeria have not been effective because Options:
  A) the consumers are too many
  B) the government is not favourabley dispose towards consumerism
  C) there is poor enlightenment about consumer rights
  D) the consumers have no medium for expressing their feelings
  Show Answer
  The correct answer is D .
• Question 1016: Hire purchase is beneficial to the seller because? Options:
  A) it enhances his living standard
  B) it increases his turnover
  C) people pay instalmentally
  D) of the patronage he enjoys
  Show Answer
  The correct answer is B .
• Question 1017: The lumbering of trees by a furniture company is an example of Options:
  A) primary production
  B) secondary production
  C) tertiary production
  D) direct production
  Show Answer
  The correct answer is A .
• Question 1018: The breaking down of a market into separate and identifiable elements is known as Options:
  A) differentiation
  B) segmentation
  C) skimming
  D) penetration
  Show Answer
  The correct answer is B .
• Question 1019:

  

  What are fixtures and fittings in a balance sheet?

  Options:
  A) liquid capital
  B) current assets
  C) fixed assets
  D) working capital
  Show Answer
  The correct answer is C .
• Question 1020: The practice of assessing employees for payment or advancement according to their observed achievement is called Options:
  A) employee ranking
  B) merit rating
  C) job grading
  D) employee education
  Show Answer
  The correct answer is C .