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 891: The forum for the selling and of buying of securities of small and medium companies is called Options:
  A) Second Tier Foreign Exchange Market
  B) Foreign Exchange Market
  C) Securities and Exchange Commission
  D) Second Tier Securities
  Show Answer
  The correct answer is A .
• Question 892: The deliberate effort geared towards discarding some cargoes in order to lighten the vessel is Options:
  A) caveat emptor
  B) uberrimae fidei
  C) demurrage
  D) jettison
  Show Answer
  The correct answer is D .
• Question 893: The main frame of selling directly to the consumers by manufacturers is to? Options:
  A) reduce transportation cost
  B) make contact with individual consumers
  C) discourage the activities of middlemen
  D) maximize profit margin
  Show Answer
  The correct answer is C .
• Question 894: A distinguishing characteristics of a limited liability company is that it Options:
  A) is a collection of many sole proprietors
  B) is a multiple partnership
  C) can sue and be sued
  D) has limited resources
  Show Answer
  The correct answer is C .
• Question 895: The program that makes up the operating system in a computer is? Options:
  A) microprogram
  B) system flowchart
  C) system software
  D) syntax
  Show Answer
  The correct answer is C .
• Question 896: One major disadvantage of a cartel is that it Options:
  A) maximizes productive efficiency
  B) brings the merging firms under control
  C) maximizes profit from operation
  D) eliminate competitions and waste
  Show Answer
  The correct answer is D .
• Question 897: 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 .
• Question 898: A major factor that affects business operations is Options:
  A) technology
  B) supply
  C) product
  D) rivalry
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  The correct answer is A .
• Question 899:

  A distinguishing characteristic of a limited liability company is that

  Options:
  A) is a collection of many sole proprietors
  B) is a multiple partnership
  C) has limited resources
  D) can sue and be sued
  Show Answer
  The correct answer is C .
• Question 900:

  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 .