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 1201:

  A public company with an authorized capital of N60,000, issued N36,000 shares at 150k each.

  What is its capital?

  Options:
  A) N60,000
  B) N36,000
  C) N54,000
  D) N90,000
  Show Answer
  The correct answer is C .
• Question 1202: In the event of voluntary liquidation, the appointed of a liquidator is the responsibility of the? Options:
  A) directors
  B) creditors
  C) promoters
  D) court
  Show Answer
  The correct answer is A .
• Question 1203:

  The arrangement and interrelationship of the various components and positions of a business is referred to as

  Options:
  A) line structure
  B) unity of direction
  C) organisational structure
  D) clarity of objective
  Show Answer
  The correct answer is C .
• Question 1204:

  The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is

  Options:
  A) indemnity
  B) contribution
  C) proximate cause
  D) uberrimae fidei
  Show Answer
  The correct answer is B .
• Question 1205: The coming together of a manufacturing business with a firm that markets its products is Options:
  A) backward integration
  B) a consortium
  C) forward integration
  D) a syndicate
  Show Answer
  The correct answer is C .
• Question 1206: Computers that process all data as binary zeros and ones are Options:
  A) analog computers
  B) digital computers
  C) hybrid computers
  D) desktop computers
  Show Answer
  The correct answer is B .
• Question 1207: The major objective of corporate mergers is to Options:
  A) minimize the effects of taxation
  B) increase financial advantage
  C) faclitate profit maximization
  D) enhance economies of scale
  Show Answer
  The correct answer is D .
• Question 1208:

  The issue of prospectus by a company is an invitation to members of the public to

  Options:
  A) subscribe to the company's shares
  B) attend the company's Annual general Meeting
  C) buy the company's products
  D) attend the company's board meeting
  Show Answer
  The correct answer is A .
• Question 1209: The type of labour that makes use of physical effort in production processes is the Options:
  A) unskilled labour
  B) skilled labour
  C) blue-collar job
  D) white-collar job
  Show Answer
  The correct answer is A .
• Question 1210:

  Bank giro is a system where?

  Options:
  A) commercial banks can give loan to all customers.
  B) a central bank opens accounts for commercial banks
  C) a customer uses a cheque to pay several bills.
  D) a customer closes his account by writing a cheque
  Show Answer
  The correct answer is C .