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 161: An engineer in government employ is to be rendering? Options:
  A) primary service
  B) tertiary service
  C) indirect service
  D) direct service
  Show Answer
  The correct answer is C .
• Question 162: A company that is registered with the corporate Affairs Commission only without being enlisted on the Stock Exchange is a? Options:
  A) public liability company
  B) joint venture company
  C) limited company
  D) registered company
  Show Answer
  The correct answer is D .
• Question 163: Which of the following is a form of social responsibility of a business? Options:
  A) Selling goods at cheaper prices
  B) Using the best technology available
  C) Maintaining tidy and safe environment
  D) Meeting contractor's obligations
  Show Answer
  The correct answer is C .
• Question 164: 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 165: Which of the following is used for temporary storage of data on a computer? Options:
  A) RAM
  B) ROM
  C) Floppy disk
  D) flash drive
  Show Answer
  The correct answer is A .
• Question 166:

  The assembling of Manufactured products into forms usable by humans is classified as

  Options:
  A) Extraction occupation
  B) Construction occupation
  C) Manufacturing occupation
  D) Industrial occupation
  Show Answer
  The correct answer is B .
• Question 167:

  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 168:

  The law by which a seller transfers the property in goods to a buyer at an agreed price is the

  Options:
  A) Weights and Measure Act
  B) Trade Description Act
  C) Sale of Goods Act
  D) Foods and Drugs Act
  Show Answer
  The correct answer is C .
• Question 169: The Central Bank differs from commercial banks because it? Options:
  A) renders service to customers
  B) carries out foreign exchange transactions
  C) issues currencies
  D) discounts bills
  Show Answer
  The correct answer is C .
• Question 170:

  Balance of payment consist of _________ and __________ items

  Options:
  A) Credit and loss
  B) visible and non-visible
  C) valid and invalid
  D) income and expenditure
  Show Answer
  The correct answer is B .