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 1391: A source of short-term finance to companies is? Options:
  A) share capital
  B) debentures
  C) retained earnings
  D) corperate tax
  Show Answer
  The correct answer is C .
• Question 1392: Sudden technology changes can have the effect of making Options:
  A) a company's management style ineffective
  B) a company's product obsolete
  C) the control menchanism difficult to implement
  D) the motivational factors in the company difficult to monitor
  Show Answer
  The correct answer is B .
• Question 1393:

  

  Use the above table to answer this question.

  What insurance principle has Mr P Violated if he decides to overstate the actual value of his property?

  Options:
  A) Indemnity
  B) Insurable interest
  C) Uberrimae fidei
  D) Subrogation
  Show Answer
  The correct answer is C .
• Question 1394: One of the criteria for differentiating consumers markets from industrial ones is the Options:
  A) type of demand
  B) type of supply
  C) nature of the services rendered
  D) price of the goods
  Show Answer
  The correct answer is A .
• Question 1395: The conversion of raw materials into finished products creates? Options:
  A) form utility
  B) marginal utility
  C) place utility
  D) time utility
  Show Answer
  The correct answer is A .
• Question 1396: The allocation of tasks to different skills in a production process is referred to as Options:
  A) production technique
  B) production function
  C) division of labour
  D) delegation of responsibility
  Show Answer
  The correct answer is C .
• Question 1397: An account maintained with a commercial bank for the purpose of foreign exchange transaction is the? Options:
  A) foreign account
  B) international account
  C) domiciliary account
  D) foreign reserves account
  Show Answer
  The correct answer is C .
• Question 1398: A government policy that encourages transfer of ownership from foreigners to indigenes of the country is known as ____? Options:
  A) nationalisation
  B) privatisation
  C) indigenisation
  D) commercialisation
  Show Answer
  The correct answer is C .
• Question 1399:

  Use the information below to answer questions 13 and 14

  	#
  Sales	50,000.00
  Debtors	10,000.00
  Cash in hand	5,000.00
  Opening stock	30,000.00
  Creditors	8,000.00
  Purchases	16,000.00
  Overdraft	12,000.00
  Closing stock	10,000.00

  Options:
  A) #35,000.00
  B) #20,000.00
  C) #15,000.00
  D) #14,000.00
  Show Answer
  The correct answer is D .
• Question 1400: A business firm that is involved in conveying goods or people is known as a? Options:
  A) consignor
  B) commercial firm
  C) carrier
  D) transporter
  Show Answer
  The correct answer is C .