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 911:

  The part of issued share capital that the company has asked the subscribers to pay for

  Options:
  A) authorised capital
  B) called-up capital
  C) nominal capital
  D) paid-up capital
  Show Answer
  The correct answer is B .
• Question 912: An author’s exclusive righto his published and unpublished works is known as? Options:
  A) authors right
  B) constitution right
  C) patent right
  D) copyright
  Show Answer
  The correct answer is D .
• Question 913: The document which must be endorsed by the ambassador of a country of destination before shipment of goods is a Options:
  A) consular invoice
  B) certificate of origin
  C) bill of lading
  D) close indent
  Show Answer
  The correct answer is B .
• Question 914: The main purpose of insurance is to Options:
  A) encourage business to surviveand grow
  B) ensures that facilities are available for operators
  C) accepts risk s and extend credit to policy holders
  D) spread individual losses ove all covered participants
  Show Answer
  The correct answer is D .
• Question 915:

  A common requirement for public and private limited companies in Nigeria is that

  Options:
  A) a shareholder cannot transfer his shares to someone else without permission from other shareholders
  B) shares cannot be offered or sale on the stock exchange
  C) their annual accounts are made available to the corporate affairs commission
  D) shares can be offered for sale through an issuing house
  Show Answer
  The correct answer is C .
• Question 916:

  A customer with ABC Plc sent money through his account to his sister's account in another branch. This Is an example of

  Options:
  A) e-business
  B) e-commerce
  C) e-banking
  D) e-finance
  Show Answer
  The correct answer is C .
• Question 917:

  An offer extended to several people at once is called

  Options:
  A) Acceptance
  B) Offeror
  C) Invitation to threat
  D) Consideration
  Show Answer
  The correct answer is C .
• Question 918: Transport, retailing and wholesaling industries rely heavily on Options:
  A) banking
  B) insurance
  C) manufacturing
  D) railway
  Show Answer
  The correct answer is C .
• Question 919: The role of customs and exercise authority includes the Options:
  A) provision of a good transport system to facilitate imports and exports
  B) provision of security at the port
  C) control of the flow of goods in and out of the country
  D) provision of dockyards for ship repairs
  Show Answer
  The correct answer is C .
• Question 920:

  The factors to be considered in setting up retail trade include all except_____

  Options:
  A) Capital
  B) Experience
  C) Location
  D) Age
  Show Answer
  The correct answer is D .