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 61:

  One of the major problems of a sole proprietor is sourcing for

  Options:
  A) Funds
  B) Labour
  C) Raw materials
  D) Machineries
  Show Answer
  The correct answer is A .
• Question 62: The minimum lending rate of a bank is a component of its Options:
  A) current assets
  B) debit balances
  C) credit balance
  D) fixed assets
  Show Answer
  The correct answer is A .
• Question 63:

  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 64: Complying with the rules relating to the conduct of business activities in a country is an aspect of Options:
  A) cultural enviroment
  B) demographic environment
  C) legal environment
  D) political environment
  Show Answer
  The correct answer is C .
• Question 65:

  The act of selling in a foreign market at a price lower than the cost price is called

  Options:
  A) Dumping
  B) hedging
  C) fair trading
  D) under sale
  Show Answer
  The correct answer is A .
• Question 66: The vessels that operate on specific route on high seas and oceans are Options:
  A) Coastal Liners and Cargo Liners
  B) Cargo Liners and Tramp liners
  C) Passenger liners and Tramp liners
  D) Passenger Liners and Cargo Liners
  Show Answer
  The correct answer is D .
• Question 67:

  A country's visible balance of payment is made up of

  Options:
  A) interest on loans to foreign countries
  B) profit from investment abroad
  C) earnings from goods exported
  D) dividend earned from companies
  Show Answer
  The correct answer is C .
• Question 68:

  The basic characteristics of co-operative society include all except one

  Options:
  A) It is managed democratically
  B) It follows the principle of one man
  C) Amateur Management
  D) Extra capital is raised through loan
  Show Answer
  The correct answer is C .
• Question 69:

  

  In the communication process. Y represents

  Options:
  A) the encoder
  B) the medium
  C) the initator
  D) noise
  Show Answer
  The correct answer is C .
• Question 70: A sole proprietor insured his goods worth N200,000 for half the value. There was a fire accident in which goods valued N80,000 were destroyed. The value of compensation expected from the insurer is Options:
  A) N40,000
  B) N80,000
  C) N100,000
  D) N200,000
  Show Answer
  The correct answer is C .