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 941:

  What are the factors with which commercial undertaking can be distinguish?

  I Size of the undertaking

  II Profits generated

  III Forms of ownership

  IV Location of the undertaking

  Options:
  A) I and II only
  B) I andIII only
  C) II and III only
  D) III and IV only
  Show Answer
  The correct answer is B .
• Question 942:

  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 943: The world tourism organization has it headquarters in Options:
  A) New York
  B) Madrid
  C) Paris
  D) London
  Show Answer
  The correct answer is B .
• Question 944:

  One of the major problems of a sole proprietor is sourcing for

  Options:
  A) Funds
  B) Labour
  C) Raw materials
  D) Machineries
  Show Answer
  The correct answer is A .
• Question 945: One of the implications of the incorporation of a company is that Options:
  A) it is more difficult for the company to raise loans
  B) the company can sue but cannot be sued
  C) the company's property becomes distinguished from that of its members
  D) its members become liable for all the debts of the company
  Show Answer
  The correct answer is C .
• Question 946: The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is Options:
  A) subrogation
  B) proximate cause
  C) uberrimae fidei
  D) contribution
  Show Answer
  The correct answer is C .
• Question 947: The principle of insurance which entitles an insurance company to take any advantage due to the insured after full indemnity is? Options:
  A) contribution
  B) subrogation
  C) promiate cause
  D) utmost good faith
  Show Answer
  The correct answer is B .
• Question 948: The term Plc implies that the are available Options:
  A) to the public at the company
  B) privately on the stock exchange
  C) publicly on the stock exchange
  D) publicly in commericial banks
  Show Answer
  The correct answer is C .
• Question 949:

  The art of soap making is an example of

  Options:
  A) tertiary occupation
  B) construction occupation
  C) primary occupation
  D) secondary occupation
  Show Answer
  The correct answer is D .
• Question 950: A business organization can obtain long term financing through Options:
  A) bank overdraft
  B) the sale of shares
  C) credit purchases
  D) bureau de change
  Show Answer
  The correct answer is B .