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 611:

  $\begin{array}{cc}N& N\\ \text{Capital 8000}& \text{Plant and machinery5000}\\ \text{Net profit 4000}& \text{Motor Van 4500}\\ \text{Drawings 200}& \text{Stock 2000}\\ \text{Creditors 2000}& \text{Debtors 1000}\\ \text{Accurals 300}& \text{Banks 100}\\ & \text{Cash 600}\\ 14100& 14100\end{array}$

  What is the current ration?

  Options:
  A) 4 : 1
  B) 5 : 1
  C) 3 : 1
  D) 2 : 1
  Show Answer
  The correct answer is D .
• Question 612:

  An abridged message sent at express speed to reach its destination faster than the airmail letters is known as

  Options:
  A) Telephone
  B) Telegram
  C) Telex
  D) NITEL
  Show Answer
  The correct answer is B .
• Question 613: The symbol at in an internet mail address is used to? Options:
  A) seperate the user name from the machine name
  B) link the user with other Internet users
  C) locate the addresses of Internet users
  D) link the user with the machine
  Show Answer
  The correct answer is B .
• Question 614: Which software program can be used to generate financial reports from a company's client list? Options:
  A) MS Word
  B) Database
  C) MS Excel
  D) Adobe
  Show Answer
  The correct answer is C .
• Question 615: An aid to trade associated with communications is? Options:
  A) banking
  B) transportation
  C) warehousing
  D) insurance
  Show Answer
  The correct answer is B .
• Question 616: The basic elements of a valid contract are Options:
  A) offer, acceptance, consideration and witness
  B) offer, intention, acceptance and legality
  C) offer, acceptance, intention, capacity and legality
  D) offer, acceptance, capacity, legality and consideration
  Show Answer
  The correct answer is D .
• Question 617: One of the implications of the incorporation of a company is that Options:
  A) it is more difficult for the company to raise loans
  B) the company can sue but cannot be sued
  C) the company's property becomes distinguished from that of its members
  D) its members become liable for all the debts of the company
  Show Answer
  The correct answer is C .
• Question 618: A risk that can be estimated and calculated to be compensation is? Options:
  A) a delivery risk
  B) an insurable risk
  C) a credit risk
  D) a systematic risk
  Show Answer
  The correct answer is B .
• Question 619: An arrangement by independent firms to share the market of their products on quota basis is referred to as? Options:
  A) trust
  B) integration
  C) syndicate
  D) cartel
  Show Answer
  The correct answer is C .
• Question 620:

  A country is said to be experiencing an unfavourable balance of trade if her

  Options:
  A) exports exceed imports
  B) visible imports exceeds Visible exports
  C) visible exports exceed visible imports
  D) imports and exports are equal
  Show Answer
  The correct answer is B .