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 881: On liquidation of a public limited liability company, the residual owners are the Options:
  A) creditors
  B) ordinary shareholders
  C) preference shareholders
  D) debenture holders
  Show Answer
  The correct answer is B .
• Question 882: Mr Olatude took up a fire insurance on a property valued at N1000 and the amount insured is N 800. If the insurance was taking with the clause ‘with average ‘, What is the amount to be paid by the insurance company? Options:
  A) N320
  B) N420
  C) N460
  D) N560
  Show Answer
  The correct answer is A .
• Question 883: The daily official publications of the Nigeria Stock Exchange give detailed information on the? Options:
  A) changes in the official rules set by the market
  B) method of transactions agreed upon by members
  C) participation of members in a day
  D) changes in the price of securities
  Show Answer
  The correct answer is C .
• Question 884: The maximum number of shareholders in a public liability company is? Options:
  A) twenty
  B) fifty
  C) one hundred
  D) unlimited
  Show Answer
  The correct answer is D .
• Question 885:

  A memory that can be read and write and is volatile is known as

  Options:
  A) RAM
  B) ROM
  C) EPROM
  D) EPPROM
  Show Answer
  The correct answer is A .
• Question 886: A person who in consideration for an extra commission takes responsibility for goods sold on credit and in case of default is a Options:
  A) commission agent
  B) del credere agent
  C) broker
  D) factor
  Show Answer
  The correct answer is B .
• Question 887: What is the major function of the wholesaler? Options:
  A) buying from small-scale producers and selling to exporters
  B) buying in bulk and selling in small quantities
  C) granting of credit facilities to retailers
  D) providing information to manufacturers on market situation
  Show Answer
  The correct answer is B .
• Question 888: The function of a merchant wholesaler is to Options:
  A) buy in bulk, store and sell to retailerss as desired
  B) posses title to the goods, store and sale to retailers
  C) bring buyers and sellers together
  D) find markets for producers' finished goods
  Show Answer
  The correct answer is A .
• Question 889: One of the disadvantages of a sole proprietorship is? Options:
  A) secrecy of annual reports
  B) pride of ownership
  C) limited liability
  D) unlimited liability
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  The correct answer is D .
• Question 890: Government policies relating to the establishment and operation of business are targeted at Options:
  A) increasing the profit of business owners
  B) the general improvement of the economy
  C) even spread of facilities and employment
  D) diversification and expansion of business
  Show Answer
  The correct answer is B .