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 81:

  A public company has 2 000 000 ordinary shares of 50k each and offers 50% for subscription at N2 per share.

  If the shares were fully subscribed, calculate the issued capital?

  Options:
  A) N4 000 000
  B) N2 000 000
  C) N1 000 000
  D) 500 000
  Show Answer
  The correct answer is D .
• Question 82:

  Thee major aim of consumer orientation is_________

  Options:
  A) consumer satisfaction
  B) consumer sovereignty
  C) what to produce
  D) market research
  Show Answer
  The correct answer is A .
• Question 83: A trader who experienced loss through fire can be restored by Options:
  A) an insurance company
  B) a trade association
  C) the bank
  D) an advertising agency
  Show Answer
  The correct answer is B .
• Question 84: Manufacturers' Association of Nigeria contributes to development by advising the government on? Options:
  A) industrial policy and harmony
  B) budget and budgetary control
  C) budget and industrial control
  D) environmental protection policy
  Show Answer
  The correct answer is A .
• Question 85: Which of the following is NOT a function of the stock exchange market? Options:
  A) providing long term loans to large scale enterprises
  B) encouraging people to buy shares and thereby providing capital for investment
  C) providing means of assessing the value of a firm's assets
  D) enabling firms to wind-up quickly in times of difficulties
  Show Answer
  The correct answer is D .
• Question 86: The most important business objective is to Options:
  A) improve investments
  B) provide quality products
  C) target consumers for satisfaction
  D) carve a niche for the business
  Show Answer
  The correct answer is C .
• Question 87: A partnership is dissolved due to ________ Options:
  A) liquidity of the firm
  B) death of the employee
  C) insanity of a partner
  D) resignation of an employee
  Show Answer
  The correct answer is C .
• Question 88: Th overriding objective of the food and drug act in Nigeria is too prevent the Options:
  A) importation of food and drug that can be locally manufactured
  B) consumption of food and drug not tested by the minitries of health
  C) adulteration of food and drug sold in the country
  D) manufactures of food and drug from charging excessive prices
  Show Answer
  The correct answer is D .
• Question 89: Drawing two parallel lines across a cheque means that it has to be paid into the account of the Options:
  A) payee
  B) drawer
  C) drawee
  D) payer
  Show Answer
  The correct answer is A .
• Question 90:

  NAME	INSURED AMOUNT(₦)	ACTUAL VALUE(₦)	ACTUAL LOSS(₦)
  Mr. P Mr. K Mr. R	25,000 30,000 40,000	100,000 120,000 150,000	30,000 40,000 50,000

  Use the table above to answer questions 27 and 28

  If Mr. P takes a fire insurance policy with average clause, his compensation will be

  Options:
  A) ₦7,500
  B) ₦5,000
  C) ₦70,000
  D) ₦75,000
  Show Answer
  The correct answer is A .