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 931: The type of marine insurance which covers either damage or loss to the vessel and such as caused by it to other vessel is? Options:
  A) hull insurance
  B) time insurance
  C) freight insurance
  D) cargo insurance
  Show Answer
  The correct answer is A .
• Question 932: Which of the following requires payment into the payee's account? Options:
  A) Crossed cheque
  B) Traveller's cheque
  C) Open cheque
  D) Certified chegues
  Show Answer
  The correct answer is A .
• Question 933: The difference between a private are public limited liability company is that the former Options:
  A) Is unable to declare and pay dividend.
  B) Has a higher number of share holder
  C) Is unable to offer shares to the public.
  D) pays higher salaries to its member
  Show Answer
  The correct answer is C .
• Question 934: Printed messages sent by cable are recorded as Options:
  A) telegram
  B) SMS
  C) telex
  D) MMS
  Show Answer
  The correct answer is A .
• Question 935: In which of the following circumstances is a court order NOT necessary for the winding up of a company? Options:
  A) supension of businesss for one year
  B) special resolution of members
  C) reduction in the number of members below the legal minimum
  D) inability to pay it debts
  Show Answer
  The correct answer is B .
• Question 936:

  The function of management that establish objectives for the organization and trying to determine the best ways to accomplish them

  Options:
  A) organizing
  B) planning
  C) directing
  D) controlling
  Show Answer
  The correct answer is B .
• Question 937: Capital as a factor of production can be used as? Options:
  A) Money that is regarded as assets
  B) Goods that are useful in business
  C) Input for further production
  D) Services that provide satisfaction
  Show Answer
  The correct answer is C .
• Question 938: A shortcoming of the Second-tier Foreign Exchange Market in Nigeria is that it Options:
  A) serves as a mechanism for evaluating an unrealistic exchange rate for the naira
  B) creates unhealthy competition amongst users of foreign exchange
  C) contributes to destabilizing national resource allocation
  D) contributes to flooding the market with foreign essential commodities
  Show Answer
  The correct answer is B .
• Question 939: The breaking down of a market into separate and identifiable elements is known as Options:
  A) differentiation
  B) segmentation
  C) skimming
  D) penetration
  Show Answer
  The correct answer is B .
• Question 940: The object of the business are determined by the Options:
  A) workers
  B) government
  C) society
  D) promoters
  Show Answer
  The correct answer is C .