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 401: A company which issues a promissory note in lieu of payment for goods purchased Options:
  A) can refuse to pay ondue date since it is only a promise
  B) is bound to redeem the note for cash on due date
  C) is not bound to renew the note before payment
  D) can return the goods purchase and refuse to pay
  Show Answer
  The correct answer is B .
• Question 402: A per-requiste for admission into the Second Tier Securities Market is for a company to? Options:
  A) make 20% of its equity share available to the public for subscription
  B) have a minimum of 100 shareholders
  C) have a maximum of 100 shareholders
  D) make 10% of its equity share available to thee public for subscription
  Show Answer
  The correct answer is D .
• Question 403:

  The type of communication from a superior to a subordinate in an organization is referredto as

  Options:
  A) downward communication
  B) upward communication
  C) lateral communication
  D) horizontal communication
  Show Answer
  The correct answer is A .
• Question 404:

  One of the functions of the Nigeria Ports Authority is the provision of

  Options:
  A) carrier services to ensure speedy delivery
  B) facilities to enhance the speedy loading and offloading of cargoes
  C) facilities to ensure that goods get to the destinations
  D) shelter for operators of cargoes
  Show Answer
  The correct answer is B .
• Question 405: The major condition for obtaining loan in thrift, credit and loans cooperative societies is Options:
  A) provision of collateral security
  B) a high level of education
  C) possesssion of a large business
  D) an approved project plan
  Show Answer
  The correct answer is A .
• Question 406: Funds used for paying wages, salaries and payments for raw materials are categorized under Options:
  A) liquid capital
  B) circulating capital
  C) fixed capital
  D) nominal capital
  Show Answer
  The correct answer is B .
• Question 407: Goods and services transferred from seller to buyer without immediate payment is referred to as ______ Options:
  A) hire purchase
  B) mutual understanding
  C) credit sale
  D) leasing
  Show Answer
  The correct answer is C .
• Question 408: The management function that makes the difference in intensity of behavior is? Options:
  A) coordinating
  B) controlling
  C) motivation
  D) planning
  Show Answer
  The correct answer is C .
• Question 409: A console is a device used in Options:
  A) moving an indicator on the screen
  B) communicating between operator and programmer
  C) holding magnetic tape reel
  D) forming characters by heating sensitive ribbon
  Show Answer
  The correct answer is A .
• Question 410: The Continental West African Conference is a Options:
  A) group of all West African countries trading in the same products
  B) conference to foster unity among the West African countries
  C) gorups of shipping lines operating on the same West African route
  D) trust with shareholders fromall West African countries
  Show Answer
  The correct answer is D .