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 281:

  

  The capital owned is

  Options:
  A) ₦2,740
  B) ₦1,350
  C) ₦1,150
  D) ₦570
  Show Answer
  The correct answer is D .
• Question 282:

  You have just bought a new car. What Insurance policy will you take to cover it?

  Options:
  A) Accident Insurance
  B) Fire Insurance
  C) Marine Insurance
  D) Fidelity Guarantee Insurance
  Show Answer
  The correct answer is A .
• Question 283: The use of computer in modern banking industry is a reflection of Options:
  A) competitive development
  B) scientific development
  C) economic development
  D) technological development
  Show Answer
  The correct answer is D .
• Question 284: The controllable variables that a firm uses to achieve its marketing objectives are called? Options:
  A) marketing principles
  B) marketing mix
  C) marketing concepts
  D) marketing functions
  Show Answer
  The correct answer is C .
• Question 285:

  Given:
  ₦
  Sales 15,000
  Opening stock 5,600
  Purchases 9,700
  Closing stock 4,400
  Gross profit 4,500
  Net profit 2,000

  From the above data, calculate the rate of turnover

  Options:
  A) 2.00 times
  B) 3.50 times
  C) 2.18 times
  D) 3.00 times
  Show Answer
  The correct answer is C .
• Question 286: 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 287: The device which interprets and carries out the instructions presented to it by the computer program is known as? Options:
  A) software
  B) microprocessor
  C) mouse
  D) hard-disk
  Show Answer
  The correct answer is B .
• Question 288: Tolu purchase goods from Yemisi and is to pay custom duties before collection. The goods are likely to be collected from. Options:
  A) a manufacturer's warehouse
  B) a bonded warehouse
  C) an importer's warehouse
  D) a wholesaler's warehouse
  Show Answer
  The correct answer is B .
• Question 289: When an industry or company is nationalized, the state becomes Options:
  A) the major shareholder
  B) the mini shareholder
  C) the only shareholder
  D) an equal shareholder with other individuals
  Show Answer
  The correct answer is C .
• Question 290: A common requirement for public and private limited companies in Nigeria is that Options:
  A) a shareholder cannot transfer his shares to someone else without permission from other shareholders
  B) their annual account are made available to the Corporate Affairs Commision
  C) shares can be offered for sale on the stock exchange
  D) shares can be offered for sale through an issuing house
  Show Answer
  The correct answer is B .