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 411:

  The process of winding up or bringing a company to an end is________

  Options:
  A) Dissolution
  B) Liquidation
  C) Integrating
  D) Merger
  Show Answer
  The correct answer is B .
• Question 412: A disadvantage of personal selling is that it Options:
  A) increase a company's operating cost
  B) decreases acompany's operating cost
  C) increase a company's number of customers
  D) reduces a company's area of patronage
  Show Answer
  The correct answer is D .
• Question 413: The total amount that a company is allowed to raised according to its memorandum of association is known as Options:
  A) issued capital
  B) authorized capital
  C) called-up capital
  D) paid-up capital
  Show Answer
  The correct answer is B .
• Question 414:

  A proforma invoice is not required when

  Options:
  A) quoting for the supply of good
  B) dealing regularly with a customer
  C) goods are sent on approval
  D) final prices are uncertain
  Show Answer
  The correct answer is B .
• Question 415: Good and services are made available to consumers through Options:
  A) the channnel of distribution
  B) sales promotion
  C) the advertising agency
  D) the middle men
  Show Answer
  The correct answer is A .
• Question 416: The coming together of a manufacturing business with a firm that markets its products is Options:
  A) backward integration
  B) a consortium
  C) forward integration
  D) a syndicate
  Show Answer
  The correct answer is C .
• Question 417:

  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 418:

  $\begin{array}{cccc}\text{Name}& \text{Insure amount}& \text{Actual value}& \text{Actual loss}\\ \text{Mr A}& 30,000& 100,000& 40,000\\ \text{Mr B}& 40,000& 120,000& 50,000\\ \text{Mr C}& 50,000& 15,000& 70,000\end{array}$

  If Mr A takes a fire insurance policy with average clause, his compensation will be

  Options:
  A) N15,000
  B) N20,000
  C) N12,000
  D) N25, 000
  Show Answer
  The correct answer is C .
• Question 419:

  The primary memory component of a computer is the

  Options:
  A) console
  B) cache
  C) compliers
  D) assemblers
  Show Answer
  The correct answer is B .
• Question 420: A bill of exchange paid before its due date at an amount less than its face value is said to have been Options:
  A) accepted
  B) rejected
  C) discounted
  D) dishonoured
  Show Answer
  The correct answer is C .