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 231: An account maintained with a commercial bank for the purpose of foreign exchange transaction is the? Options:
  A) foreign account
  B) international account
  C) domiciliary account
  D) foreign reserves account
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  The correct answer is C .
• Question 232: A transporter who had to sell some perishable goods without the prior authority of the owner becomes an agent by? Options:
  A) conduct
  B) necessity
  C) ratification
  D) estoppel
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  The correct answer is B .
• Question 233:

  Which of the limited liability companies have a limit of fifty members and do not issues their shares to the public

  Options:
  A) Private limited liability
  B) Public limited liability
  C) Partnership
  D) Co-operative society
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  The correct answer is A .
• Question 234: Motivation is an essential element in management because it Options:
  A) leads to the improvement of staff welfare
  B) encourage individual to work towards achieving the orgaization's objective
  C) reduce friction among employees in the process of achieving the company's objective
  D) helps to eliminate industrial disharmony
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  The correct answer is B .
• Question 235: 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
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  The correct answer is A .
• Question 236: Rights issue means the Options:
  A) issue of shares to the directors of a company on favourable terms
  B) Issue of shares by a company only to the founders of the company
  C) right of shareholders to vote on any issue
  D) issue of shares to shareholders on favourable terms
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  The correct answer is D .
• Question 237: The most important function of commerce is? Options:
  A) helping people to improve thir profits
  B) facilitaing exchanges among indiviuals and firms
  C) assisting trade through banking and insurance
  D) enhancing business relationships
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  The correct answer is B .
• Question 238:

  All harbours, docks and waterways of Nigeria are looked after by a public corporation called the

  Options:
  A) Nigerian Police Authority
  B) Nigerian Ports Authority
  C) National Ports Authority
  D) National Police Authority
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  The correct answer is B .
• Question 239:

  The satisfaction of consumer is best explained by

  Options:
  A) Product mix
  B) Marketing concept
  C) marketing mix
  D) market segmentation
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  The correct answer is B .
• Question 240: The act of interpreting ideas within an organization is Options:
  A) motivating
  B) organizing
  C) planning
  D) communicating
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  The correct answer is D .