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 921: Resources harnessed in certain proportion to create goods and services are? Options:
  A) factors of production
  B) technology and labour
  C) land and entrepreneur
  D) raw materials
  Show Answer
  The correct answer is A .
• Question 922:

  An internal source of finance to an enterpreneur is

  Options:
  A) trade
  B) retained earning
  C) overdraft
  D) debenture
  Show Answer
  The correct answer is B .
• Question 923:

  An insurance policy which is not a contract of indemnity is

  Options:
  A) burglary insurance
  B) fire insurance
  C) life insurance
  D) motor insurance
  Show Answer
  The correct answer is C .
• Question 924: A document sent by a seller to inform a buyer about the prices of goods is the? Options:
  A) catalogue
  B) price list
  C) credit note
  D) proforma invoice
  Show Answer
  The correct answer is B .
• Question 925:

  Use the information below to answer questions 3 and 4.

  Aboki Plc, became the insolvent and decided to wind up to meet the legitimate claims of its creditors.

  Babalawee was called in to manage the dissolution.

  After paying the debts of aboki Plc, the balance goes to?

  Options:
  A) Aboki Plc
  B) Babalawee
  C) shareholders
  D) creditors
  Show Answer
  The correct answer is C .
• Question 926: The first stage in tourism planing is? Options:
  A) assessing feedback from tourists
  B) preparing a list of tourists
  C) creating recreational opportunities
  D) building community support
  Show Answer
  The correct answer is B .
• Question 927: An example of a cartel is? Options:
  A) OPEC
  B) ECOWAS
  C) AU
  D) EU
  Show Answer
  The correct answer is A .
• Question 928: Which of the following regulates and controls the activities in the Nigerian Stock Exchange? Options:
  A) BPE
  B) SEC
  C) NDIC
  D) CBN
  Show Answer
  The correct answer is B .
• Question 929:

  The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

  Initial Capital	5000
  Net Profit	1000
  Furniture	2000
  Equipment	2900
  Debtors	100
  Stock	1000
  Bank	500

  From the above, calculate Current liabilities

  Options:
  A) 100
  B) 6000
  C) 600
  D) 3000
  Show Answer
  The correct answer is C .
• Question 930:

  One of the obstacles to achieving the objectives of ECOWAS is?

  Options:
  A) lack of a common currency
  B) colonial linkages
  C) sovereignty of state
  D) language difference
  Show Answer
  The correct answer is D .