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 561:

  Average stock is derived by adding

  Options:
  A) closing stock to purchase divided by 2
  B) closing stock to opening stock
  C) opening stock to closing stock divided by 2
  D) opening stock to purchases
  Show Answer
  The correct answer is C .
• Question 562:

  The following development of money have therefore been the use of, except______

  Options:
  A) Coins
  B) Inconvertible paper money
  C) Commodities
  D) Abacus
  Show Answer
  The correct answer is D .
• Question 563: A major hindrance to tourism growth in Nigeria is? Options:
  A) absence of genunie tour operators
  B) lack of tourism master plan
  C) inadequate tourist centres
  D) non-compliance to immigration laws
  Show Answer
  The correct answer is B .
• Question 564: 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 .
• Question 565: A lawyer that defrauds his client may be derobed by the Nigerian Bar association in order to Options:
  A) protect other lawyers
  B) protect the intergrity of the association
  C) compensate the affected client
  D) prevent the client from sueing the association
  Show Answer
  The correct answer is B .
• Question 566:

  Which of the following activities is not an example of the extractive industry?

  Options:
  A) weaving
  B) quarrying
  C) hunting
  D) fishing
  Show Answer
  The correct answer is A .
• Question 567:

  Advertisement which is geared towards a particular audience is

  Options:
  A) direct advertising
  B) indirect advertising
  C) mass advertising
  D) persuasive advertising
  Show Answer
  The correct answer is A .
• Question 568: When one person approves an act previously done by another in the former's name without authority, this is known as? Options:
  A) ratification
  B) estoppel
  C) illegality
  D) misrepresentation
  Show Answer
  The correct answer is B .
• Question 569: A bill of exchange already accepted can be discounted by the holder in? Options:
  A) the central bank
  B) at least two banks
  C) his bank
  D) any bank
  Show Answer
  The correct answer is D .
• Question 570:

  The conversion of raw materials into finished products creates

  Options:
  A) form utility
  B) time utility
  C) marginal utility
  D) place utility
  Show Answer
  The correct answer is A .