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 441: The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is Options:
  A) subrogation
  B) proximate cause
  C) uberrimae fidei
  D) contribution
  Show Answer
  The correct answer is C .
• Question 442: The Nigerian Telecommunications Limited is a? Options:
  A) jointly owned company
  B) public corpoation
  C) privately owned company
  D) public company
  Show Answer
  The correct answer is B .
• Question 443: The cost of transporting goods to consumers called Options:
  A) carried inward
  B) carried forward
  C) carried paid
  D) carried outward
  Show Answer
  The correct answer is D .
• Question 444:

  The share capital value that forms part of the balance sheet total is the

  Options:
  A) issued share capital
  B) called-up share capital
  C) authorised share capital
  D) paid-up share capital
  Show Answer
  The correct answer is A .
• Question 445: The compensation the insured gets depends heavily on the? Options:
  A) economic situation
  B) premium paid
  C) risk suffered
  D) insurer's bouyancy
  Show Answer
  The correct answer is B .
• Question 446: The primary motive behind an individual engaging in production is to? Options:
  A) fully engaged all the factors of production
  B) make available goods and services
  C) meets projected profit
  D) meet basic human needs
  Show Answer
  The correct answer is C .
• Question 447: The temporary working area of the central processing unit is called the? Options:
  A) C-D ROM
  B) C-D RAM
  C) ROM
  D) RAM
  Show Answer
  The correct answer is B .
• Question 448: The elimination of fault in a computer programme is called? Options:
  A) console
  B) debug
  C) dump
  D) loop
  Show Answer
  The correct answer is B .
• Question 449: A business organization must always consider the overall effect of its actions on the Options:
  A) competitor
  B) product
  C) profit
  D) society
  Show Answer
  The correct answer is C .
• Question 450:

  In a public limited liability company, planning is carried out by

  Options:
  A) Employees
  B) The chairman of the board
  C) Shareholders
  D) Manufacturer’s warehouse
  Show Answer
  The correct answer is C .