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 501: When an oil exploring and mining company builds a health center in one of the communities where it operates, such a company is Options:
  A) currying favour from local people
  B) finding a way to spend resonsibility
  C) fulfilling part of its social responsibilty
  D) invest its idle funds
  Show Answer
  The correct answer is C .
• Question 502: 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 503: If a customer pays within nine days of receiving goods and takes advantage of 3% off the invoice price, this is stated as Options:
  A) 3/9;net 30
  B) 9/27;net 30
  C) 30;net 9/3
  D) 9/30;net 3
  Show Answer
  The correct answer is D .
• Question 504:

  Erroneous real arrangement of financial figure such as writing N624 as N264 is called?

  Options:
  A) ommission
  B) commission
  C) transposition
  D) principle
  Show Answer
  The correct answer is C .
• Question 505: The payment made periodically in respect of an insurance policy entered into is known as? Options:
  A) bond
  B) commission
  C) premium
  D) surrender value
  Show Answer
  The correct answer is C .
• Question 506:

  First Bank of Nigeria is an example of

  Options:
  A) Commercial bank
  B) Central bank
  C) Development bank
  D) Merchant bank
  Show Answer
  The correct answer is A .
• Question 507: Marketing skimming is an example of? Options:
  A) market penetration
  B) sales promotion
  C) pricing policy
  D) advertising
  Show Answer
  The correct answer is A .
• Question 508: The bulls and bears in the Stock Exchange market help to minimize Options:
  A) the number of shares and bonds sold
  B) price increases of securities
  C) fluctuations in the prices os securities
  D) the elasticity of the prices of securities
  Show Answer
  The correct answer is C .
• Question 509: In CIF contracts, risk passes at the time of shipment but the property does not pass until? Options:
  A) there is physical transfer of goods
  B) the shipping manifest are signed
  C) the shipping documents are transferred
  D) the goods on board are delivered
  Show Answer
  The correct answer is B .
• Question 510: A company has an authorized capital of 40 million shares at N1 each, out f which 32 million are issued and fully paid-up. What happens to the remaining 8 million shares? Options:
  A) it has been issued but not paid-up
  B) it has been applied for but not issued
  C) it is not paid-up
  D) it has not yet been issued
  Show Answer
  The correct answer is D .