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 the cost of sales is divided by the average stock, the result is

  Options:
  A) gross profit
  B) net profit
  C) rate of turnover
  D) working capital
  Show Answer
  The correct answer is C .
• Question 502:

  The maximum number of shareholders in a public liability company is

  Options:
  A) One hundred
  B) Unlimited
  C) Fifty
  D) Twenty
  Show Answer
  The correct answer is B .
• Question 503: A bank statement is a document Options:
  A) ordering a bank to pay on demand a stated sum of money
  B) containing records of receipts, payments and balance on an account
  C) used for paying into bank account
  D) used for regular withdrawal of money from a savings account
  Show Answer
  The correct answer is B .
• Question 504: The management function of evaluating whether objectives are being achieved is Options:
  A) planning
  B) directing
  C) organizing
  D) controlling
  Show Answer
  The correct answer is D .
• Question 505:

  

  The capital owned is

  Options:
  A) ₦2,740
  B) ₦1,350
  C) ₦1,150
  D) ₦570
  Show Answer
  The correct answer is D .
• Question 506: The primary objective of a business organization is to Options:
  A) cater for the neds of its owners
  B) work towards making returns
  C) assist the government to serve the citizens
  D) improve the standard of living of its proprietors
  Show Answer
  The correct answer is B .
• Question 507: An instrument used in lieu of legal tender is known as ______? Options:
  A) Token money
  B) commodity money
  C) fiat money
  D) representative
  Show Answer
  The correct answer is B .
• Question 508: Debentures differ from shares in that Options:
  A) they are secured on the company's assets
  B) ownership is open to the public
  C) they form part of the capital of the business
  D) rewards are usually paid out of profits
  Show Answer
  The correct answer is A .
• Question 509: Trading on the stock exchange in anticipation of price change in the market value of shares is? Options:
  A) speculation
  B) forecasting
  C) expectation
  D) projection
  Show Answer
  The correct answer is A .
• Question 510: An artificial barrier to international trade is? Options:
  A) political unrest
  B) culture of the people
  C) units of measurement
  D) custom duties
  Show Answer
  The correct answer is D .