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 451: 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
  Show Answer
  The correct answer is B .
• Question 452: The business environment that takes into cognizance the age distribution, ethnic mix and educational level of the consumer is? Options:
  A) demographic evironment
  B) economic evironment
  C) cultural environment
  D) natural environment
  Show Answer
  The correct answer is A .
• Question 453: Which of the following is a limitation of division of labour? Options:
  A) Decline in craftmanship
  B) Monotony of work
  C) Reduction in output
  D) Reduction in labour force
  Show Answer
  The correct answer is D .
• Question 454: Aliyu bought 100 shares at the stock market through a stockbroker. He was told the price each share was N3 cum. div. This means that Aliyu Options:
  A) is entitled always to a cumulative dividends accruing from the shares
  B) is entitled to the next dividends due to the shares
  C) will not be entitled to the next dividends due to the shares
  D) still owes N3 on the shares which will be subtracted from the dividends
  Show Answer
  The correct answer is B .
• Question 455: Which of the following is NOT a function of the stock exchange market? Options:
  A) providing long term loans to large scale enterprises
  B) encouraging people to buy shares and thereby providing capital for investment
  C) providing means of assessing the value of a firm's assets
  D) enabling firms to wind-up quickly in times of difficulties
  Show Answer
  The correct answer is D .
• Question 456: Social responsibility of an organization to? Options:
  A) tackle the socio-economic problem of its community
  B) meet the needs of its community
  C) contribute to sustaining and developing its community
  D) operate without disrupting the very essence of the enviroment
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  The correct answer is C .
• Question 457: The function which ensures that set objectives are attained by an organization is? Options:
  A) planning
  B) directing
  C) staffing
  D) controlling
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  The correct answer is D .
• Question 458:

  A distinguishing characteristic of a limited liability company is that

  Options:
  A) is a collection of many sole proprietors
  B) is a multiple partnership
  C) has limited resources
  D) can sue and be sued
  Show Answer
  The correct answer is C .
• Question 459: A person who in consideration for an extra commission takes responsibility for goods sold on credit and in case of default is a Options:
  A) commission agent
  B) del credere agent
  C) broker
  D) factor
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  The correct answer is B .
• Question 460: On liquidation of a public limited liability company, the residual owners are the Options:
  A) creditors
  B) ordinary shareholders
  C) preference shareholders
  D) debenture holders
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  The correct answer is B .