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 1461: An arrangement by independent firms to share the market of their products on quota basis is referred to as? Options:
  A) trust
  B) integration
  C) syndicate
  D) cartel
  Show Answer
  The correct answer is C .
• Question 1462: One of the products of an extractive industry is Options:
  A) an airplane
  B) an iron ore
  C) a shoe
  D) a textile material
  Show Answer
  The correct answer is B .
• Question 1463: In Nigeria, the body ensures that its members operate according to their professional ethics is the? Options:
  A) SON
  B) NPF
  C) MAN
  D) NAFDAC
  Show Answer
  The correct answer is A .
• Question 1464: One of the facilities enjoyed by a current account holder is? Options:
  A) a dividend
  B) a bonus
  C) an overdraft
  D) interest on deposits
  Show Answer
  The correct answer is C .
• Question 1465:

  Use the information below to answer question 14 and 15.

  Miamani Plc, whose nominal capital is made up of 5000 000 ordinary shares of 50k each, decided to offer 80% of it to the public and realized only 50% of the amount due.

  What is the company's reserve share capital?

  Options:
  A) N2500 000
  B) N4000 000
  C) N5000 000
  D) N2000 000
  Show Answer
  The correct answer is A .
• Question 1466:

  The most important resources of business is_______

  Options:
  A) Human resources
  B) Money resources
  C) Material resources
  D) Opportunities
  Show Answer
  The correct answer is A .
• Question 1467: 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 1468: The most important difference between community banks and peoples’ bank is that the? Options:
  A) latter is owned solely by government while the former are not
  B) former cater for ruler dwellers while the latter cater for both rural and urban dwellers
  C) former are service oriented while the latter are profit oriented
  D) latter advances loans to the public while former advance loans to the rural dwellers only.
  Show Answer
  The correct answer is A .
• Question 1469: Mr. Lawal insured his warehouse against burglary but it was later gutted by fire. this implies that? Options:
  A) the loss should be borne by the insurer
  B) Mr. Lawal is liable only for half of the estimated loss
  C) the insurer should make a consolation payment for the loss
  D) the loss should be borne by Mr. Lawal
  Show Answer
  The correct answer is D .
• Question 1470: The measure of independence available to the individual business units that come together is the main difference between Options:
  A) vertical and horizontal integration
  B) Mergers and Acquisition
  C) Consortium and imagination
  D) Trust and Cartel
  Show Answer
  The correct answer is B .