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 1231: An association that acts as a watchdog between enterpreneurs and government to protect trade from any unfavourable laws is said to be a Options:
  A) cartel
  B) syndicate
  C) Chamber of Commerce
  D) Nigeria Bar Association
  Show Answer
  The correct answer is C .
• Question 1232: The document which must be endorsed by the ambassador of a country of destination before shipment of goods is a Options:
  A) consular invoice
  B) certificate of origin
  C) bill of lading
  D) close indent
  Show Answer
  The correct answer is B .
• Question 1233: The business with the best business objectives is Options:
  A) Okon
  B) Taiwo
  C) Kalu
  D) Musa
  Show Answer
  The correct answer is A .
• Question 1234: One of the characteristics of a good organizational chart is that it should Options:
  A) be rigid
  B) show government policy
  C) facilitate communication
  D) be acceptable
  Show Answer
  The correct answer is C .
• Question 1235:

  The difference between the buying price and the selling price of a share is referred to as

  Options:
  A) Commission
  B) Profit
  C) Jobber's Profit
  D) Turnover
  Show Answer
  The correct answer is C .
• Question 1236: An example of extractive occupation is ______ Options:
  A) mining
  B) teaching
  C) banking
  D) driving
  Show Answer
  The correct answer is A .
• Question 1237:

  Which of the following attracts only interest but leaves the capital unpaid?

  Options:
  A) uberrimae fidei
  B) subrogation
  C) contribution
  D) redeemable bond
  Show Answer
  The correct answer is D .
• Question 1238: Gilt-edged securities are issued mainly by Options:
  A) individuals
  B) non-governmental organisations
  C) Government
  D) multi-national companies
  Show Answer
  The correct answer is C .
• Question 1239: In which of the following circumstances is a court order NOT necessary for the winding up of a company? Options:
  A) supension of businesss for one year
  B) special resolution of members
  C) reduction in the number of members below the legal minimum
  D) inability to pay it debts
  Show Answer
  The correct answer is B .
• Question 1240: The process of eliminating a virus from a computer program is? Options:
  A) programming
  B) debugging
  C) formating
  D) looping
  Show Answer
  The correct answer is C .