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 1061: The type of computer software used mainly for management information is Options:
  A) corel draw
  B) autocad
  C) data base
  D) word perfect
  Show Answer
  The correct answer is C .
• Question 1062: A wholesaler dealer in securities is known as a Options:
  A) stockborker
  B) speculator
  C) jobber
  D) stag
  Show Answer
  The correct answer is C .
• Question 1063: Resources obtained from the extractive sector that are transformed into finished products are examples of? Options:
  A) primary production
  B) tertiary production
  C) direct production
  D) secondary production
  Show Answer
  The correct answer is A .
• Question 1064:

  A commission charged on postal order is__________

  Options:
  A) postal zero
  B) postal orders
  C) poundage
  D) brokage
  Show Answer
  The correct answer is C .
• Question 1065:

  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

  Use the information below to answer question

  What is the total fixed capital?

  Options:
  A) N 570,000
  B) N 570,000
  C) N 575,000
  D) N 675,000
  Show Answer
  The correct answer is C .
• Question 1066: The components of capital employed in a business are? Options:
  A) owners' equity and long-term debts
  B) total assets and current liabilities
  C) share capital and long-term debts
  D) share capital and current liabilities
  Show Answer
  The correct answer is B .
• Question 1067: The business organization established mainly for the purpose of carrying out specific assignment for a specific duration is a Options:
  A) Partnership
  B) Company
  C) Joint venture
  D) Co-operative society
  Show Answer
  The correct answer is C .
• Question 1068: The main objective of a trade association can best be described as promoting and protecting Options:
  A) the products
  B) common interest
  C) the market
  D) customer's interest
  Show Answer
  The correct answer is D .
• Question 1069: At the collapse of a business enterprises, the person appointed to dispose off the assets is called ________? Options:
  A) an auctioneer
  B) a broker
  C) a liquidator
  D) an auditor
  Show Answer
  The correct answer is A .
• Question 1070: Nationalization of an industry means that its ownership becomes that of Options:
  A) government
  B) shareholders
  C) taxpayers
  D) indigenes
  Show Answer
  The correct answer is A .