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 221:

  Why is clear bill of lading called so?

  Options:
  A) It shows records of damaged goods
  B) It shows no records of damaged goods
  C) It is a clear bill
  D) It signifies no debt is owed
  Show Answer
  The correct answer is B .
• Question 222: Compulsory dissolution of a business can arise from Options:
  A) an agreement by the owners
  B) a declaration by a court of law
  C) the termination of its life
  D) an unfavourable economic climtate
  Show Answer
  The correct answer is B .
• Question 223: A major liability of a commercial bank arises from Options:
  A) customers' deposits
  B) loans and advances
  C) overdrafts
  D) staff allowance
  Show Answer
  The correct answer is A .
• Question 224: 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 225: When an employee incurs expenses while executing his normal duty, the employer is responsible for his? Options:
  A) safety
  B) family's security
  C) family's welfare
  D) ìdemnification
  Show Answer
  The correct answer is D .
• Question 226: The excess of the assets over the liabilities of a business is called? Options:
  A) working capital
  B) net worth
  C) capital employed
  D) initial capital
  Show Answer
  The correct answer is B .
• Question 227:
  

  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 228: The most widely used computer language that focuses on solving science-oriented problems is? Options:
  A) FORTRAN
  B) BASIC
  C) ADA
  D) COBOL
  Show Answer
  The correct answer is A .
• Question 229: 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 230:

  

  The organizational structure above represents

  Options:
  A) line and functional structure
  B) line and staff structure
  C) functional structure
  D) line structure
  Show Answer
  The correct answer is B .