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 1361: Nationalization of an industry means that its ownership becomes that of Options:
  A) government
  B) shareholders
  C) taxpayers
  D) indigenes
  Show Answer
  The correct answer is A .
• Question 1362:

  Given $\frac{\text{index of export price}}{\text{index of import price}}$ X $\frac{100}{1}$

  The formula above can be used to determine the

  Options:
  A) terms of payment
  B) balance of payments
  C) tearms of trade
  D) import tariffs
  Show Answer
  The correct answer is C .
• Question 1363: The role of customs and exercise authority includes the Options:
  A) control of the flow of goods in and out of the country
  B) control of security agents within and out of the borders
  C) provision of dockyards for ship repairs and maintenance
  D) provision of transport system to facilitate imports and exports
  Show Answer
  The correct answer is A .
• Question 1364:

  

  What is Ojo's working capital?

  Options:
  A) N 2150
  B) N 1950
  C) N1800
  D) N 1150
  Show Answer
  The correct answer is D .
• Question 1365: Bank Giro is a method of settling debt from a Options:
  A) customer to a bank
  B) bank to customer
  C) customer to another
  D) bank to another
  Show Answer
  The correct answer is A .
• Question 1366: A Memorandum of Association is applicable to a? Options:
  A) sole trader
  B) joint company
  C) partnership
  D) public corporation
  Show Answer
  The correct answer is B .
• Question 1367: One of the major function of a chamber of commerce is to Options:
  A) promotes and protect trade, industry and agriculture
  B) advise members on regulations of other countries
  C) settle disputes that arise out of trade
  D) publish books and periodical desired by members
  Show Answer
  The correct answer is A .
• Question 1368: A major hindrance to tourism growth in Nigeria is? Options:
  A) absence of genunie tour operators
  B) lack of tourism master plan
  C) inadequate tourist centres
  D) non-compliance to immigration laws
  Show Answer
  The correct answer is B .
• Question 1369:

  An undertaking given by a person to another assuring his integrity is

  Options:
  A) proximate cause
  B) insurable interest
  C) fidelity guarantee
  D) subrogation
  Show Answer
  The correct answer is C .
• Question 1370: The pooling of business information for the benefit of members s is a major function of a? Options:
  A) pressure group
  B) trade association
  C) cultural group
  D) trade union
  Show Answer
  The correct answer is B .