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 1351:

  The difference between Articles of association and memorandum of Association is that the latter deals

  Options:
  A) with the Internal working relationship of the company and its members
  B) with the powers and relationships of the company with outsiders
  C) The method of issue, transfer and future of the company's shares
  D) The rights and responsibilities of shareholders
  Show Answer
  The correct answer is B .
• Question 1352:

  Use the information below to answer this question

  A B C Balance Sheet as at 31/12/2004

  ₦ Share capital 200,000 Reserves 100,000 Long term liabilities 40,000 Current liabilities 30,000 370,000

  ₦ Fixed assets 180,000 Investment 100,000 Current assets 50,000 Fictitious assets 40,000370,000

  The total sum of financing short term projects is

  Options:
  A) ₦ 30,000
  B) ₦200,000
  C) ₦70,000
  D) ₦40,000
  Show Answer
  The correct answer is B .
• Question 1353:

  What is the difference between current assets and current liabilities?

  Options:
  A) Working capital
  B) nominal capital
  C) capital employed
  D) issued capital
  Show Answer
  The correct answer is A .
• Question 1354: One of the merits of television as a medium of of advertising is that it? Options:
  A) is prone to censorship
  B) is relatively cheap
  C) has more sensory stimulation
  D) has more network coverage
  Show Answer
  The correct answer is C .
• Question 1355:

  The above chart represents the

  Options:
  A) Marketing mix relationship
  B) Product mix relationship
  C) Advertising mix relationship
  D) Promotion mix relationship
  Show Answer
  The correct answer is A .
• Question 1356: An important principle of a good organization structure is Options:
  A) ideal standard
  B) span control
  C) clarity of mission
  D) adequacy resources
  Show Answer
  The correct answer is B .
• Question 1357: An essential factor for evaluating the different sources of funds for a business is the? Options:
  A) decree establishing the business
  B) ownership structure of the business concern
  C) size and the type of the business
  D) burden of cost and repayment
  Show Answer
  The correct answer is B .
• Question 1358:

  One major characteristic of credit unions and thrift societies is that

  Options:
  A) the contribution of every member depends on the member's ability
  B) the legal processes involved in their formation are rigid
  C) membership is compulsory to people in the same line of business
  D) a minimum of ten people in the same line of business can form the union
  Show Answer
  The correct answer is A .
• Question 1359:

  Why will a cheque be dishonored?

  Options:
  A) Regular signature
  B) high amount of money written on the cheque
  C) insufficient funds
  D) general crossing
  Show Answer
  The correct answer is C .
• Question 1360:

  The Sole aim of government owned business is to

  Options:
  A) make profit
  B) provide services to the public
  C) spread environmental pollution
  D) manage action
  Show Answer
  The correct answer is B .