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 711: 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 712:

  Distribution of goods belongs to

  Options:
  A) Construction industry
  B) extractive industry
  C) manufacturing industry
  D) commercial industry
  Show Answer
  The correct answer is D .
• Question 713: The rate of turnover of a firm in a given year is 5 times while the average stock is #12,500. what is the turnover of the firm? Options:
  A) #24,000
  B) #46,500
  C) #62,500
  D) #65,000
  Show Answer
  The correct answer is C .
• Question 714: The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called Options:
  A) subrogation
  B) contribution
  C) re-insurance
  D) indemnity
  Show Answer
  The correct answer is C .
• Question 715:

  A company which another company is a member and control the board of directors or hold more than half of its equity is termed_______

  Options:
  A) Subsidiary
  B) Syndicate
  C) Holding Company
  D) Parent company
  Show Answer
  The correct answer is A .
• Question 716:

  The difference between Articles of association and memorandum of Association is that the latter deals

  Options:
  A) with the Internal working relationship of the company and its members
  B) with the powers and relationships of the company with outsiders
  C) The method of issue, transfer and future of the company's shares
  D) The rights and responsibilities of shareholders
  Show Answer
  The correct answer is B .
• Question 717: Which Commerce Question Paper is given to you? Options:
  A) Type A
  B) Type B
  C) Type C
  D) Type D
  Show Answer
  The correct answer is B .
• Question 718: A core investor in the current phase of privatization in Nigeria is one who? Options:
  A) can afford to buy most of the shares of the enterprises
  B) will be at the core of the enterprises
  C) can mobilize foreign currency equivalent to the value of the enterprises
  D) has the technical know-how of the enterprises
  Show Answer
  The correct answer is A .
• Question 719: A group of computers that exchange data is referred to as Options:
  A) an information bank
  B) a network
  C) a database
  D) an intranet site
  Show Answer
  The correct answer is B .
• Question 720: In the case of a voluntary liquidation of a business the receivers is appointed by the by the Options:
  A) creditors
  B) debtors
  C) directors
  D) shareholders
  Show Answer
  The correct answer is A .