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 621: Determine the company's reserve share capital? Options:
  A) N2500 000
  B) N1000 000
  C) N1500 000
  D) N2000 000
  Show Answer
  The correct answer is B .
• Question 622: The market structure, business conditions and financial system in Nigeria constitute the? Options:
  A) economic enironment
  B) political environment
  C) cultural environment
  D) technological environment
  Show Answer
  The correct answer is A .
• Question 623: An association that acts as a watchdog between enterpreneurs and government to protect trade from any unfavourable laws is said to be a Options:
  A) cartel
  B) syndicate
  C) Chamber of Commerce
  D) Nigeria Bar Association
  Show Answer
  The correct answer is C .
• Question 624: Which of the following are forms of sales promotion? Options:
  A) advertising, personal selling and publicity
  B) advertising, market skimming and publicity
  C) personal selling, packaging and publicity
  D) advertising, packaging and publicity
  Show Answer
  The correct answer is A .
• Question 625: Which of the following legislation aims primarily at the protection of consumers? Options:
  A) Law of contract
  B) Trade description Act
  C) Company's Act
  D) Partnership Act
  Show Answer
  The correct answer is B .
• Question 626: The cost which is incurred asa result of failure to load or unload a ship at the ports within a specified period is referred to as Options:
  A) demurrage charges
  B) premium charges
  C) excess charges
  D) trade charges
  Show Answer
  The correct answer is A .
• Question 627:

  The type of communication from a superior to a subordinate in an organization is referredto as

  Options:
  A) downward communication
  B) upward communication
  C) lateral communication
  D) horizontal communication
  Show Answer
  The correct answer is A .
• Question 628:

  Which of the following has power to order withdrawal of a particular food item from circulation?

  Options:
  A) Federal High Courts in Nigeria
  B) Standard Organization of Nigeria
  C) Local Government Health Inspectors
  D) Food and Drugs Department of the Federal Ministry of Health
  Show Answer
  The correct answer is C .
• Question 629: Quantity discount is offerred mainly to persuade the buyer to Options:
  A) defer payment
  B) make prompt purchases
  C) make advance payment
  D) purchase more
  Show Answer
  The correct answer is B .
• Question 630:

  On liquidation of a public limited liability company, the residual owners are the?

  Options:
  A) creditors
  B) debenture shareholders
  C) preference shareholders
  D) ordinary shareholder
  Show Answer
  The correct answer is D .