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 211: A company which issues a promissory note in lieu of payment for goods purchased Options:
  A) can refuse to pay ondue date since it is only a promise
  B) is bound to redeem the note for cash on due date
  C) is not bound to renew the note before payment
  D) can return the goods purchase and refuse to pay
  Show Answer
  The correct answer is B .
• Question 212:

  The share capital value that forms part of the balance sheet total is the

  Options:
  A) issued share capital
  B) called-up share capital
  C) authorised share capital
  D) paid-up share capital
  Show Answer
  The correct answer is A .
• Question 213: The document a seller uses in dispatching goods to a customer by a carrier is Options:
  A) a bill of landing
  B) an invoice
  C) an advice note
  D) a delivery note
  Show Answer
  The correct answer is D .
• Question 214: When a company uses more of loans than equity to finance its business, the company is said to be Options:
  A) bankrupt
  B) solvent
  C) highly geared
  D) in a strong liquid position
  Show Answer
  The correct answer is C .
• Question 215: When a price is quoted at F.O.B. it means that the price? Options:
  A) excludes loading charges incurred in bringing the goods to port of destinction
  B) exclude all necessary shipping charges payable for insurrance
  C) includes all charges payable on shipping a consignment to the port destination
  D) includes charges payable for for loading goods onto the ship
  Show Answer
  The correct answer is C .
• Question 216: The process of decoding data in a computer is known as Options:
  A) dilution
  B) default drive
  C) decryption
  D) data security
  Show Answer
  The correct answer is C .
• Question 217:

  A conter offer is an offer that is

  Options:
  A) different from the original offer
  B) breached
  C) different in terms of acceptance
  D) extended to several people at once
  Show Answer
  The correct answer is A .
• Question 218: The elimination of fault in a computer programme is called? Options:
  A) console
  B) debug
  C) dump
  D) loop
  Show Answer
  The correct answer is B .
• Question 219: The price quoted which includes the cost of insurance, freight and all delivery charges to the importer's warehouse is? Options:
  A) Free Alongside Ship
  B) Franco
  C) Free On Board
  D) Free On Rail
  Show Answer
  The correct answer is C .
• Question 220:

  The factors which critically determines the choice of occupation is

  Options:
  A) Skill
  B) Training
  C) Aptitude
  D) Interest
  Show Answer
  The correct answer is A .