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 1241:

  In a public limited liability company, planning is carried out by

  Options:
  A) Employees
  B) The chairman of the board
  C) Shareholders
  D) Manufacturer’s warehouse
  Show Answer
  The correct answer is C .
• Question 1242: Government policies relating to the establishment and operation of business are targeted at Options:
  A) increasing the profit of business owners
  B) the general improvement of the economy
  C) even spread of facilities and employment
  D) diversification and expansion of business
  Show Answer
  The correct answer is B .
• Question 1243: 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 1244: The major factors that facilitate merchandising are Options:
  A) commuincation , advertising and banking
  B) trading, warehousing and production
  C) management, insurance, and advertising
  D) banking, insurance and transportation
  Show Answer
  The correct answer is D .
• Question 1245: Labour as an input in production can be motivated by Options:
  A) training
  B) profit
  C) remuneration
  D) promotion
  Show Answer
  The correct answer is C .
• Question 1246: The portion of the authorized share capital given out to the public for subscription is Options:
  A) called-up capital
  B) issued capital
  C) paid-up capital
  D) reserved capital
  Show Answer
  The correct answer is B .
• Question 1247: 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 1248: 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 1249: Money can simply be referred to as a? Options:
  A) medium of exchange
  B) means for the settlement of debts
  C) durable assets for doing business
  D) standard of value
  Show Answer
  The correct answer is A .
• Question 1250: The type of activity which turns processed raw materials into consumer and industrial goods is described as ________ Options:
  A) extractive
  B) manufacturing
  C) constructive
  D) processing
  Show Answer
  The correct answer is B .