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 181: When an oil exploring and mining company builds a health center in one of the communities where it operates, such a company is Options:
  A) currying favour from local people
  B) finding a way to spend resonsibility
  C) fulfilling part of its social responsibilty
  D) invest its idle funds
  Show Answer
  The correct answer is C .
• Question 182:

  In a public limited liability company, planning is carried out by

  Options:
  A) Employees
  B) The chairman of the board
  C) Shareholders
  D) Manufacturer’s warehouse
  Show Answer
  The correct answer is C .
• Question 183: An essential factor for evaluating the different sources of funds for a business is the? Options:
  A) decree establishing the business
  B) ownership structure of the business concern
  C) size and the type of the business
  D) burden of cost and repayment
  Show Answer
  The correct answer is B .
• Question 184: A company has an authorized capital of 40 million shares at N1 per share, out of which 32 million shares have been issued and fully paid-up. The remaining 8 million shares have Options:
  A) been issued but have not been paid-up
  B) been applied for but not issued
  C) not been paid-up
  D) not yet been issued
  Show Answer
  The correct answer is D .
• Question 185: 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 186: A bank form used to transfer money from personal to creditor's account is called? Options:
  A) debits transfer form
  B) credit transfer form
  C) customers transfer form
  D) banks transfer form
  Show Answer
  The correct answer is A .
• Question 187: An example of an activity in the construction industry is Options:
  A) blacksmithing
  B) bricklaying
  C) car assembling
  D) shoemaking
  Show Answer
  The correct answer is C .
• Question 188:

  The best mode of ensuring that items posted get to the named addresses is through

  Options:
  A) recorded delivery
  B) certificate of posting
  C) registered mail
  D) express mail
  Show Answer
  The correct answer is C .
• Question 189: Inventory control is an aspect of a Options:
  A) operations research
  B) materials management
  C) C the organizing function
  D) D span of control
  Show Answer
  The correct answer is B .
• Question 190: A common element in all contracts is? Options:
  A) offer
  B) consideration
  C) acceptance
  D) agreement
  Show Answer
  The correct answer is D .