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: A bill of exchange already accepted can be discounted by the holder in ______? Options:
  A) the central bank
  B) at least two banks
  C) his bank
  D) any bank
  Show Answer
  The correct answer is D .
• Question 1232: A firm that adapts itself to delivering the desired satisfaction more effectively than its competitors is said to be practicing? Options:
  A) price concept
  B) distribution concept
  C) product concept
  D) markting concept
  Show Answer
  The correct answer is D .
• Question 1233: One of the advantages of commercialization is that it? Options:
  A) encourages entrepreneuership
  B) increases the salaries of workers
  C) motivates governement to establish more business
  D) gives wortkers on-the-job training
  Show Answer
  The correct answer is A .
• Question 1234: Division of labour ultimately leads to? Options:
  A) conservation
  B) intergration
  C) specialization
  D) repetition
  Show Answer
  The correct answer is C .
• Question 1235:
  

  Use the information above to answer the question below.

  Find the current ratio.

  Options:
  A) 1.53:1
  B) 1, 85:1
  C) 0. 87: 1
  D) 0, 50:1
  Show Answer
  The correct answer is B .
• Question 1236: One of the effects of the devaluation of the Naira is that the Options:
  A) goods that can be imported with the naira have become cheaper
  B) value of other currencies relative to the naira have become cheaper
  C) goods that can be exported from Nigeria have become costlier
  D) imports that can be bought with the naira have become costlier
  Show Answer
  The correct answer is D .
• Question 1237:

  The share capital value that forms part of the balance sheet total is the

  Options:
  A) issued share capital
  B) called-up share capital
  C) authorised share capital
  D) paid-up share capital
  Show Answer
  The correct answer is A .
• Question 1238:

  In the law of contact, a counter offer operates as

  Options:
  A) A contact
  B) an acceptance
  C) a rejection
  D) a rejection
  Show Answer
  The correct answer is D .
• Question 1239:

  The principle of span of control stipulates that?

  Options:
  A) The number of employees reporting to one superior should be kept to a workable maximum
  B) An employee should report to only one superior
  C) Managers must demand accountability from their subordinates
  D) Resources have to be economized within the various divisions
  Show Answer
  The correct answer is A .
• Question 1240: The winding up of a firm by a resolution of its shareholders is an example of Options:
  A) voluntary liquidation
  B) bankruptcy
  C) recession
  D) involuntary liquidation
  Show Answer
  The correct answer is A .