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 1041: The business in the stock exchange is characterized essentially by Options:
  A) dealing
  B) brokerage
  C) speculations
  D) transactions
  Show Answer
  The correct answer is A .
• Question 1042: An oil exploration company is engaged in? Options:
  A) tertiary production
  B) constructive occupation
  C) extractive occupation
  D) secondary production
  Show Answer
  The correct answer is C .
• Question 1043: A floating policy is an example of? Options:
  A) marine insurance
  B) actuaries insurance
  C) motor insurance
  D) fire insurance
  Show Answer
  The correct answer is B .
• Question 1044: The computer using linear integrated circuit technology coupled with quantification of data in terms of length and distance is known as? Options:
  A) digital computer
  B) analogue computer
  C) mainframe computer
  D) hybrid computer
  Show Answer
  The correct answer is A .
• Question 1045:

  Amina Enterprises Balance Sheet as at 30/3/99
  Liabilities	₦	Assets	₦
  Share capital	400,000	Land	200,000
  Reserve fund	200,000	Buildings	150,000
  Creditors	110,000	Machinery	200,000
  Bills payable	50,000	Implements	20,000
  Undistributed profits	45,000	Office fittings	5,000
  Wages due	5,000	Raw materials	100,000
  		Finished goods	50,000
  		Debtors	20,000
  		Bills receivable	15,000
  		Cash at bank	45,000
  		Cash at hand	5,000

  Determined the circulating capital?

  Options:
  A) N250,000
  B) N245,000
  C) N235,000
  D) N225,000
  Show Answer
  The correct answer is C .
• Question 1046: Which of the following is NOT a function of the stock exchange market? Options:
  A) providing long term loans to large scale enterprises
  B) encouraging people to buy shares and thereby providing capital for investment
  C) providing means of assessing the value of a firm's assets
  D) enabling firms to wind-up quickly in times of difficulties
  Show Answer
  The correct answer is D .
• Question 1047: In a staff-authority relationship, the opinion of a specialist in one department to another is Options:
  A) a directive
  B) an advice
  C) a command
  D) a delegation
  Show Answer
  The correct answer is B .
• Question 1048: A warehouse which is used to store goods whose customs duty is not yet paid is a? Options:
  A) wholesale warehouse
  B) bonded warehouse
  C) public warehouse
  D) branded warehouse
  Show Answer
  The correct answer is B .
• Question 1049:

  Why will a cheque be dishonored?

  Options:
  A) Regular signature
  B) high amount of money written on the cheque
  C) insufficient funds
  D) general crossing
  Show Answer
  The correct answer is C .
• Question 1050: A new company requiring a large amount of equity finance may source funds from the? Options:
  A) capital market
  B) central bank
  C) money market
  D) commercial banks
  Show Answer
  The correct answer is D .