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 1431: The differences between the central bank and commercial bank is that the former ______ Options:
  A) discount treasury bills
  B) give loans to the public
  C) saves valuable of individual
  D) serves as lender of last resort
  Show Answer
  The correct answer is D .
• Question 1432: Selling goods in foreign countries at price below their marginal cost is? Options:
  A) dumping
  B) depreciation
  C) devaluation
  D) discounting
  Show Answer
  The correct answer is A .
• Question 1433:

  i. personal savings. ii. retained earnings iii. accrued taxes.

  Which of the items constitute internal sources of financing for companies?

  Options:
  A) i and ii
  B) i and iii
  C) ii and iii
  D) i, ii and iii
  Show Answer
  The correct answer is A .
• Question 1434: The payment made periodically in respect of an insurance policy entered into is known as? Options:
  A) bond
  B) commission
  C) premium
  D) surrender value
  Show Answer
  The correct answer is C .
• Question 1435:

  From which of the following sources can partnership increase their capital?

  Options:
  A) Sales of shares
  B) Admission of new partners
  C) Discharge of mortgage
  D) Grants from relatives
  Show Answer
  The correct answer is B .
• Question 1436: An activity that involves derivation of raw materials from land and sea is? Options:
  A) construction
  B) farming
  C) agriculture
  D) extraction
  Show Answer
  The correct answer is D .
• Question 1437: A distinguishing characteristic of labour is that it is Options:
  A) constant
  B) expensive
  C) mobile
  D) cost
  Show Answer
  The correct answer is C .
• Question 1438:

  Central banks sell treasury bills to the public to

  Options:
  A) increase cash in the banking system
  B) raise revenue for commerical banks
  C) raise revenue for private investors
  D) reduce cash in circulation
  Show Answer
  The correct answer is D .
• Question 1439: From which of the following sources can partnerships increase their capital? Options:
  A) Admission of a new partner
  B) Sale of shares
  C) Discharge of a mortage
  D) initial capital
  Show Answer
  The correct answer is A .
• Question 1440:

  A business unit in which savings of members are lent to others is a

  Options:
  A) consumer cooperative society
  B) producer cooperative society
  C) credit and thrift society
  D) wholesale cooperative society
  Show Answer
  The correct answer is C .