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 141: Drawing two parallel lines across a cheque means that it has to be paid into the account of the Options:
  A) payee
  B) drawer
  C) drawee
  D) payer
  Show Answer
  The correct answer is A .
• Question 142: A proposed company may not be registered if? Options:
  A) the name conficits with that of another
  B) it does not put 'limited' after its proposed name
  C) it has no paid-up capital
  D) it has no asset of its own
  Show Answer
  The correct answer is A .
• Question 143: The major achievement of ECOWAS is? Options:
  A) the expansion of regional trade
  B) the emergance of a monetary union
  C) infrastructural development in member countries
  D) mobility of labour among member countries
  Show Answer
  The correct answer is A .
• Question 144: Musa obtains wool from his sheep, spins and transforms it into cloth which he sells to consumers. This is a form of Options:
  A) vertical integration
  B) horizontal integration
  C) forward intergration
  D) backward integration
  Show Answer
  The correct answer is A .
• Question 145: A major criticism of a cooperative society is? Options:
  A) limited capital
  B) granting exceessive loans to members
  C) selling goods on credit to non-members
  D) management incompetence
  Show Answer
  The correct answer is D .
• Question 146: Which of these insurance principles requires a close connection between the actual loss suffered and the risk insured? Options:
  A) indemnity
  B) proximate cause
  C) Contribution
  D) Subrogation
  Show Answer
  The correct answer is B .
• Question 147: Mr Taiwo entered into a contract to let a car to Mr Bunmi for his wedding for two days. However, the car had an accident before the first day. Mr Bunmi attempted to claim damages but failed. This implies the contract was terminated by Options:
  A) bankruptcy
  B) frustration
  C) breach
  D) lapse of time
  Show Answer
  The correct answer is B .
• Question 148: The best means of sending unwritten messages simultaneously to many branches of an organization within a country is the? Options:
  A) television
  B) telephone
  C) telegraph
  D) radio
  Show Answer
  The correct answer is C .
• Question 149:

  

  What is the working capital as at December 31, 1992?

  Options:
  A) ₦65 250
  B) ₦60 000
  C) ₦48 650
  D) ₦41 950
  Show Answer
  The correct answer is D .
• Question 150: Which of the following is a function of consumerism? Options:
  A) Protecting consumers' rights
  B) providing consumers' choice
  C) providing consumers' needs
  D) Making profiteering impossible
  Show Answer
  The correct answer is A .