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 21: The physical components of a computer system refers to the? Options:
  A) system unit
  B) hardware
  C) software
  D) compact disk
  Show Answer
  The correct answer is B .
• Question 22: The circulating capital of a business enterprise is classified into Options:
  A) Cash, work-in-progress and debtors
  B) Cash, Vehicles, land and building
  C) debtors, stocks of raw materials and fitting
  D) Prepayments, debtors and equipment
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  The correct answer is A .
• Question 23: The promotion of savings culture is a feature of a? Options:
  A) trade association
  B) consumers' cooperative society
  C) thirft cooperative society
  D) business association
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  The correct answer is C .
• Question 24: A current account is beneficial to its holder as? Options:
  A) cheques can be issued to anybody
  B) customers cannot withdraw frequently
  C) it is only the holder that can make withdrawals
  D) it allows customers the use of passbooks
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  The correct answer is A .
• Question 25: 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 26: The arrangement and interrelationship of the various components and positions of a business is referred to as? Options:
  A) organizational structure
  B) clarity of objective
  C) unity of direction
  D) line structure
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  The correct answer is A .
• Question 27: Proper disposal of waste by business firms is one way of discharging their? Options:
  A) responsibility to government
  B) environmental responsibility
  C) community responsibility
  D) responsibility to customers
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  The correct answer is B .
• Question 28: Partnership are most suitable where Options:
  A) the partners are family friends
  B) professionals are involved
  C) members can easily rasie enough capital
  D) government regulations are favourable
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  The correct answer is B .
• Question 29: The principle of subrogation states that Options:
  A) an insured person should be indemnifed to the tune of the amount insured
  B) an insurance company can stand in place of the insured in dealing with third party
  C) oly a person who is likely to sufferrd loss should take take out an insurance cover
  D) ther must be a close connection between the actual loss suffered and risk insured
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  The correct answer is B .
• Question 30:

  An organization which focuses on consumers satisfaction is practicing

  Options:
  A) Marketing concepts
  B) Selling concepts
  C) Consumerism
  D) Market segmentation
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  The correct answer is A .