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 1071:

  Goods bought into the country for sale are the country's

  Options:
  A) invisible imports
  B) invisible exports
  C) visible imports
  D) visible exports
  Show Answer
  The correct answer is C .
• Question 1072:

  Which of the following groups would advocate for the supply of constant electricity to households?

  Options:
  A) Consumer's association
  B) Credit union
  C) Employer's association
  D) Labour union
  Show Answer
  The correct answer is A .
• Question 1073:

  Given:
  Opening stock: ₦1,800
  Purchases: ₦2,800
  Sales: ₦8,000
  Closing stock: ₦350
  Carriage on sales: ₦500

  Calculate the value of the unused stock.

  Options:
  A) #800
  B) #500
  C) #350
  D) #320
  Show Answer
  The correct answer is C .
• Question 1074: The financial instrument that entitles the holder to receive dividend and capital gains is a? Options:
  A) share
  B) bond
  C) bill of exchange
  D) treasury bill
  Show Answer
  The correct answer is A .
• Question 1075: Land as a factor of production does not vary in _______ Options:
  A) quantity
  B) nature
  C) quality
  D) cost
  Show Answer
  The correct answer is B .
• Question 1076: One of the obligations of an employer to an employee is to? Options:
  A) indemnify him against liabilities incurred on duty
  B) award scholarship to his children
  C) terminate his appointment without prior notice
  D) indemnity himagainst injuries caused through negligence
  Show Answer
  The correct answer is A .
• Question 1077: The merger of a textile mill, a cement company and a tannery is referred to as? Options:
  A) conglomerate merger
  B) horizontal merger
  C) lateral merger
  D) vertiical merger
  Show Answer
  The correct answer is B .
• Question 1078: If a partnership deed is silent on how profits are to be shared, partners share profits Options:
  A) in the ratio of the value of business secured by each partner for the partnership
  B) in the ratio of partner capital contributions
  C) in an equal proportion irrespective of partners's capital contributons
  D) according to duties performed by each partner
  Show Answer
  The correct answer is C .
• Question 1079: A royal charter was granted to the Royal Niger Company to do business in Nigeria in Options:
  A) December 1888
  B) May 1887
  C) July 1886
  D) August 1885
  Show Answer
  The correct answer is C .
• Question 1080: Pooling of risk in insurance means that? Options:
  A) compensations are paid out of a common fund
  B) two people can pool their risks to be insured
  C) two insurance companies can buy two policies
  D) insurance companies should encourage taking risks.
  Show Answer
  The correct answer is A .