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 651: The service of a textile worker are an example of? Options:
  A) extractive activity
  B) commercial activity
  C) manufacturing
  D) construction
  Show Answer
  The correct answer is C .
• Question 652: 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 653: 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 654: Stimulation of demand is a kind of communication in marketing which connotes? Options:
  A) personal selling
  B) sales promotion
  C) advertising
  D) merchandising
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  The correct answer is C .
• Question 655: Which of these sets of external environmental factors affects a business operation? Options:
  A) Competition, industry operation
  B) Competition, labour and political
  C) Political, cultural and labour
  D) Economic, social and legal
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  The correct answer is D .
• Question 656: A bond which attracts interest but leaves the capital repaid is referred to as Options:
  A) A redeemable bond
  B) An irredeemable bond
  C) A development bond
  D) A long-term loan
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  The correct answer is B .
• Question 657:

  $\begin{array}{cc}\text{Opening stock}& 1800\\ \text{Purchases}& 2800\\ \text{Sales}& 800\\ \text{Closing stock}& 800\\ \text{Carriage on sale}& 500\end{array}$

  Calculate the value of the unused stock.

  Options:
  A) N320
  B) N350
  C) N500
  D) N800
  Show Answer
  The correct answer is D .
• Question 658: Which of the following groups is paid first when a firm liquidates? Options:
  A) Preference shareholders
  B) Debenture holders
  C) Ordinary shareholders
  D) Cumulative preference shareholders
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  The correct answer is A .
• Question 659: An agent who takes title to goods and has authority to buy and sell on behalf of another is Options:
  A) A jobber
  B) A broker
  C) A factor
  D) An auctioneer
  Show Answer
  The correct answer is A .
• Question 660: Unresolved disputes between the employer and employees are usually referred to the? Options:
  A) code of conduct bureau
  B) personnel unit
  C) disciplinary committee
  D) industrial arbitration tribunal
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  The correct answer is D .