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 171:

  The major determinant of fire insurance premium is the

  Options:
  A) usefulness of the property to the owner
  B) type and structure of the property to be insured
  C) owner of the property to be insured
  D) extent of fire damage anticipated
  Show Answer
  The correct answer is B .
• Question 172: If a buyer is given 12.5% discount on N50,000 worth of goods, how much will he pay? Options:
  A) N56 250
  B) N43 750
  C) N43 250
  D) N6250
  Show Answer
  The correct answer is B .
• Question 173: The cheapest source of funds available to a company is through? Options:
  A) the sale of shares
  B) retained profits
  C) the sale of bonds
  D) lease financing
  Show Answer
  The correct answer is B .
• Question 174: The share capital value that forms part of the balance sheet total is the Options:
  A) paid-up share capital
  B) called-up share capital
  C) authorized share capital
  D) issued share capital
  Show Answer
  The correct answer is A .
• Question 175: The practice of assessing employees for payment or advancement according to their observed achievement is called Options:
  A) employee ranking
  B) merit rating
  C) job grading
  D) employee education
  Show Answer
  The correct answer is C .
• Question 176:
  

  Use the information above to answer the question below.

  What is the owners' equity?

  Options:
  A) N 250 000
  B) N 300 000
  C) N 420 000
  D) N 200 000
  Show Answer
  The correct answer is A .
• Question 177: 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 178:

  What’s the first form an applicant must complete before taking an insurance policy?

  Options:
  A) Cover note
  B) advice note
  C) proposal form
  D) certificate of insurance
  Show Answer
  The correct answer is C .
• Question 179: A warehouse which is used to store goods whose customs duty is not yet paid is a? Options:
  A) wholesale warehouse
  B) bonded warehouse
  C) public warehouse
  D) branded warehouse
  Show Answer
  The correct answer is B .
• Question 180: One of the obligations of an employer to an employee is to? Options:
  A) indemnify him against liabilities incurred on duty
  B) award scholarship to his children
  C) terminate his appointment without prior notice
  D) indemnity himagainst injuries caused through negligence
  Show Answer
  The correct answer is A .