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 201:

  

  Use the document below to answer the question.

  Okon Etim Esin is the

  Options:
  A) debtor
  B) creditor
  C) exporter
  D) importer
  Show Answer
  The correct answer is B .
• Question 202: A computer that can be used in weather forecast is? Options:
  A) a hybrid computer
  B) an analog computer
  C) a marineframe computer
  D) a digital computer
  Show Answer
  The correct answer is D .
• Question 203: Complying with the rules relating to the conduct of business activities in a country is an aspect of Options:
  A) cultural enviroment
  B) demographic environment
  C) legal environment
  D) political environment
  Show Answer
  The correct answer is C .
• Question 204: The amount of authorized capital that shareholders have subscribed to is Options:
  A) issued share capital
  B) authorized share capital
  C) owner's equity
  D) working capital
  Show Answer
  The correct answer is B .
• Question 205: The best mode of ensuring that items posted got to the named address through? Options:
  A) recorded delivery
  B) registered mail
  C) certificate of posting
  D) express mail
  Show Answer
  The correct answer is B .
• Question 206: If a partnership deed is silent on how profits are to be shared, partners share profits Options:
  A) in the ratio of the value of business secured by each partner for the partnership
  B) in the ratio of partner capital contributions
  C) in an equal proportion irrespective of partners's capital contributons
  D) according to duties performed by each partner
  Show Answer
  The correct answer is C .
• Question 207:

  The agency that currently oversees the privatization and commercialization process in Nigeria is the

  Options:
  A) Securities and Exchange Commission
  B) Technical Committee on privatization and commercialization
  C) Nigeria Stock Exchange
  D) Bureau of Republic Enterprises
  Show Answer
  The correct answer is D .
• Question 208: In a hire purchase agreement between Argungu Ltd and Maikudi, Argungu Ltd inserted provision that it can enter Maikudi’s premises at any time and remove the hired vehicle for any breach. This provision is Options:
  A) lawful to both
  B) unlawful to both
  C) beneficial to both
  D) detrimental to both
  Show Answer
  The correct answer is A .
• Question 209:

  The excess of the assets over the liabilities of a business is called

  Options:
  A) capital employed
  B) net worth
  C) working capital
  D) initial capital
  Show Answer
  The correct answer is B .
• Question 210: The temporary working area of the central processing unit is called the? Options:
  A) C-D ROM
  B) C-D RAM
  C) ROM
  D) RAM
  Show Answer
  The correct answer is B .