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 421: A major advantage of a cooperative society is that it? Options:
  A) gives members the opportunity to unite
  B) draws members closer to government
  C) promotes awareness among members
  D) encourages thirft among members
  Show Answer
  The correct answer is D .
• Question 422: 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 .
• Question 423: Product involves Options:
  A) making goods avaiable where and when needed
  B) changing the form of goods, moving and making them avaiable as needed
  C) the manufacturing of goods and provision of services
  D) the assembling of all necessary parts to produce a finished product
  Show Answer
  The correct answer is B .
• Question 424:

  

  Use the document below to answer the question.

  Okon Etim Esin is the

  Options:
  A) debtor
  B) creditor
  C) exporter
  D) importer
  Show Answer
  The correct answer is B .
• Question 425: The composite functions of management are? Options:
  A) planning, supervising, communicating
  B) planning, controlling, organising and directing
  C) coordinating, supervising , staffing and comunicating
  D) directing, supervising, motivating, and controlling
  Show Answer
  The correct answer is B .
• Question 426: In international trade, documentary credit is also known as? Options:
  A) credit note
  B) letters of credit
  C) bankers' note
  D) letter of hypothecation
  Show Answer
  The correct answer is B .
• Question 427:

  A terms of payment in which the buyer pays cash immediately for goods bought before he takes them away is called____

  Options:
  A) Prompt cash
  B) Cash on delivery
  C) Spot cash
  D) Cash with order
  Show Answer
  The correct answer is C .
• Question 428: A core investor in the current phase of privatization in Nigeria is one who? Options:
  A) can afford to buy most of the shares of the enterprises
  B) will be at the core of the enterprises
  C) can mobilize foreign currency equivalent to the value of the enterprises
  D) has the technical know-how of the enterprises
  Show Answer
  The correct answer is A .
• Question 429: The central working system of a computer used for data processing is the? Options:
  A) memory unit
  B) monitor
  C) floppy disk drive
  D) hard drive
  Show Answer
  The correct answer is B .
• Question 430: 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 .