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 1171:

  A distinguishing characteristic of a limited liability company is that

  Options:
  A) is a collection of many sole proprietors
  B) is a multiple partnership
  C) has limited resources
  D) can sue and be sued
  Show Answer
  The correct answer is C .
• Question 1172: Second-tier securities market differs from the first-tier securities market in that the former is Options:
  A) highly restricted
  B) Regulated by SEC
  C) Regulated by NIPC
  D) less restricted.
  Show Answer
  The correct answer is A .
• Question 1173: One of the functions of seaports is the provision of? Options:
  A) berthing and landing facilities
  B) loading and off-loading facilities
  C) control room for relaying radio messages
  D) warehouses for storage of cargo
  Show Answer
  The correct answer is B .
• Question 1174: The net profit is the excess of gross profit and sources of income over all the expenses . This implies that net profit is Options:
  A) the difference between gross profit and trade expenses
  B) the different between gross profit and net sales
  C) sales less cost of sales including sales returns
  D) opening stock add purchases less closing stock
  Show Answer
  The correct answer is A .
• Question 1175: The input, output and central processing units are the basic components of a computer's? Options:
  A) memory
  B) printer
  C) hardware
  D) software
  Show Answer
  The correct answer is C .
• Question 1176: Privatization is concerned with? Options:
  A) equal ownership between the public and the governement
  B) thje dilution of ownership among the public
  C) the individual ownership of companies
  D) governement ownership of companies
  Show Answer
  The correct answer is C .
• Question 1177: The merchant wholesaler is referred to as Options:
  A) del-credere agent
  B) a broker
  C) rack jobber
  D) a factor
  Show Answer
  The correct answer is A .
• Question 1178: A printed copy of processed information from the computer is the? Options:
  A) soft copy
  B) file copy
  C) scanned copy
  D) hard copy
  Show Answer
  The correct answer is D .
• Question 1179: A form of money that has gone out of use is? Options:
  A) paper money
  B) bank money
  C) commodity money
  D) foreign money
  Show Answer
  The correct answer is C .
• Question 1180: The most important advantage of privatization is the enhancement of? Options:
  A) liquidity
  B) accountantability
  C) profitability
  D) efficiency
  Show Answer
  The correct answer is D .