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 781: 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 782:

  

  Use the diagram above to answer this question

  X represents

  Options:
  A) action
  B) receiver
  C) transmission
  D) ideation
  Show Answer
  The correct answer is B .
• Question 783:

  The share capital value that forms part of the balance sheet total is the

  Options:
  A) issued share capital
  B) called-up share capital
  C) authorised share capital
  D) paid-up share capital
  Show Answer
  The correct answer is A .
• Question 784: The form of credit sales common to low income groups is Options:
  A) hire purchase
  B) club trading
  C) booking -me -down
  D) credit trading
  Show Answer
  The correct answer is A .
• Question 785: Water corporation is an example of ______? Options:
  A) co-operative society
  B) public enterprise
  C) private enterprise
  D) limited company
  Show Answer
  The correct answer is B .
• Question 786: The members of ECOWAS include? Options:
  A) Nigeria, Chad, Gabon and Cape Verde
  B) Burkina Faso, Nigeria and Ghana
  C) Guinea, Mali, Cameroun and Nigeria
  D) Togo, Niger, Nigeria and Ghana
  Show Answer
  The correct answer is D .
• Question 787: When 'FOB' is written on a document, it implies that the buyer bears the? Options:
  A) cost of goods and advert
  B) loading costs and insurance
  C) insurance and transport costs
  D) transport and communication costs
  Show Answer
  The correct answer is C .
• Question 788:

  A cheque that is payable to whoever presents it is known as______

  Options:
  A) order cheque
  B) open cheque
  C) crossed cheque
  D) bearer cheque
  Show Answer
  The correct answer is D .
• Question 789:

  Transportation, retailing and wholesaling industries rely heavily on?

  Options:
  A) banking
  B) insurance
  C) manufacturing
  D) railway
  Show Answer
  The correct answer is C .
• Question 790:

  $\begin{array}{cc}N& N\\ \text{Capital 8000}& \text{Plant and machinery 5000}\\ \text{Net profit 4000}& \text{Motor van 4500}\\ \text{Drawings 200}& \text{Stock 2000}\\ \text{Creditors 2000}& \text{Debtor 1000}\\ \text{Accruals 300}& \text{Bank 100}\\ & \text{Cash 600}\\ 14100& 14100\end{array}$

  What is the acid ratio?

  Options:
  A) 1.13 : 1
  B) 2 : 1
  C) 4.75 : 1
  D) 4.25 : 1
  Show Answer
  The correct answer is A .