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 541: The most important pieces of legislation governing business and commercial activities in Nigeria currently is the Options:
  A) Companies degree,1968
  B) Trade Disputes degree, 1976
  C) Companies and Allied matters degree,1990
  D) Banks and Other Financial institution degree,1991
  Show Answer
  The correct answer is C .
• Question 542: The headquarters of the lake Chad Basin Commission is in? Options:
  A) Niamey
  B) N'Djamena
  C) Abuja
  D) Lagos
  Show Answer
  The correct answer is B .
• Question 543: Inbound tourism occurs when Options:
  A) non-resident s of a country travel within it.
  B) non- resident of a country travel to other countries
  C) resident of a country travel within it
  D) Residents of a country travel to other countries.
  Show Answer
  The correct answer is C .
• Question 544:

  A transporter who had to sell some perishable goods without the prior authority of the owner becomes an agent by?

  Options:
  A) conduct
  B) necessity
  C) ratification
  D) estoppel
  Show Answer
  The correct answer is B .
• Question 545: 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 546: 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
  Show Answer
  The correct answer is B .
• Question 547: The mode of transporting crude oil to the ports for export purposes is by Options:
  A) tanker
  B) rail
  C) road
  D) pipeline
  Show Answer
  The correct answer is D .
• Question 548:

  Use the information below to answer question 14 and 15.

  Miamani Plc, whose nominal capital is made up of 5000 000 ordinary shares of 50k each, decided to offer 80% of it to the public and realized only 50% of the amount due.

  What is the company's reserve share capital?

  Options:
  A) N2500 000
  B) N4000 000
  C) N5000 000
  D) N2000 000
  Show Answer
  The correct answer is A .
• Question 549: Which of the following is the best method for computing working capital Options:
  A) Total assets less current liabilities
  B) Current liabilities less current assets
  C) Fixed liabilities less current assets
  D) Current assets less current liabilities
  Show Answer
  The correct answer is A .
• Question 550:

  A specially-designed mode of transport for conveying liquid and gas is a

  Options:
  A) coaster
  B) tanker
  C) liner
  D) ferry
  Show Answer
  The correct answer is B .