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 791: In Nigeria, the ministry in charge of registering trade associations is that of? Options:
  A) industries
  B) commerce
  C) culture and tourism
  D) finance
  Show Answer
  The correct answer is B .
• Question 792: Which of the following is a characteristic of a bearer cheque Options:
  A) it is made with transverse lines
  B) it is made payable to whoever presents it
  C) it is made without transverse lines
  D) it is only payable into the payees account
  Show Answer
  The correct answer is B .
• Question 793: Mrs Jones who lives in the riverine community of Rivers State makes her living through crabbing and fishing . This type of occupation she is in is Options:
  A) commercial
  B) manufacturing
  C) service
  D) extractive
  Show Answer
  The correct answer is D .
• Question 794: The total amount that a company is allowed to raised according to its memorandum of association is known as Options:
  A) issued capital
  B) authorized capital
  C) called-up capital
  D) paid-up capital
  Show Answer
  The correct answer is B .
• Question 795:

  Taking a new product to a particular part of the country to test the reaction of consumers to the product is referred to as?

  Options:
  A) sales promotion
  B) sampling
  C) merchandising
  D) advertising
  Show Answer
  The correct answer is A .
• Question 796: In the event of the liquidation of a company, the first to be settled are? Options:
  A) debenture holders
  B) members of the board
  C) preference shareholders
  D) ordinary shareholders
  Show Answer
  The correct answer is A .
• Question 797: The business organization that can effectively combine management with control is? Options:
  A) private limited liability company
  B) sole proprietorship
  C) public limited liability company
  D) co-operation society
  Show Answer
  The correct answer is B .
• Question 798: In a business organization, the annual operation plan or budget is a form of Options:
  A) casual plan
  B) medium-term plan
  C) long-term plan
  D) short-term plan
  Show Answer
  The correct answer is D .
• Question 799: Money can be simply be referred to as a Options:
  A) measure of value
  B) standard of value
  C) means of settlement
  D) durable asset for doing business
  Show Answer
  The correct answer is A .
• Question 800: The development of commerce in west Africa was not hampered by Options:
  A) Inadequate capital
  B) Inadequate means of transportation
  C) Insurance
  D) Low savings
  Show Answer
  The correct answer is B .