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:

  When it becomes necessary to liquidate a company, the first step to be taken is the appointment of a?

  Options:
  A) a receiver
  B) an auditor
  C) an account
  D) a liquidator
  Show Answer
  The correct answer is D .
• Question 232: The term Plc implies that the are available Options:
  A) to the public at the company
  B) privately on the stock exchange
  C) publicly on the stock exchange
  D) publicly in commericial banks
  Show Answer
  The correct answer is C .
• Question 233: A demonstration of social responsibility by a business is the payment of Options:
  A) taxes to government
  B) dividends to shareholders
  C) interests on loans
  D) premium on insurance
  Show Answer
  The correct answer is A .
• Question 234: The sole legal right held by the author to publish his book is Options:
  A) trademark
  B) copyright
  C) patent right
  D) bookmark
  Show Answer
  The correct answer is B .
• Question 235: A current account holder pays fees for services in form of Options:
  A) bank charges
  B) interest rates
  C) commission on turnover
  D) minimum lending rate
  Show Answer
  The correct answer is A .
• Question 236: Commission on turnover is usually a benefit accruable to the Options:
  A) drawer
  B) drawee
  C) payer
  D) payee
  Show Answer
  The correct answer is D .
• Question 237:

  A company which another company is a member and control the board of directors or hold more than half of its equity is termed_______

  Options:
  A) Subsidiary
  B) Syndicate
  C) Holding Company
  D) Parent company
  Show Answer
  The correct answer is A .
• Question 238: A historical building is a feature of? Options:
  A) cultural tourism
  B) industrial tourism
  C) agricultural tourism
  D) ecological tourism
  Show Answer
  The correct answer is A .
• Question 239: An action taken by a company outside its object clause is regarded as? Options:
  A) ultra vires
  B) a trespass
  C) uberrima fides
  D) caveat emptor
  Show Answer
  The correct answer is A .
• Question 240: The process of changing the form of a new material is known as? Options:
  A) fabrication
  B) extraction
  C) conversion
  D) production
  Show Answer
  The correct answer is D .