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 971: International trade takes place as a result of? Options:
  A) uniformity in costs of production
  B) inequitable distribution of natural resources
  C) parity in the level of industrialization
  D) similarities in climate conditions
  Show Answer
  The correct answer is B .
• Question 972:

  When does the buyer in a hire purchase becomes the owner of the goods?

  Options:
  A) When all installments have been fully paid
  B) After payment of the first installment
  C) Before the payment of the first installment
  D) When half of the purchased price has been paid
  Show Answer
  The correct answer is A .
• Question 973: A factor necessary for siting a warehouse is nearness to Options:
  A) raw materials
  B) labour
  C) capital
  D) consumers
  Show Answer
  The correct answer is D .
• Question 974:

  The sale of second hand securities is done in which market

  Options:
  A) Building society
  B) cooperative society
  C) stock exchange
  D) capital market
  Show Answer
  The correct answer is C .
• Question 975: The principle of subrogation stated that Options:
  A) An insured person should be indemnified to the time of the amount insured
  B) An insurance company constant in lace of the insured in dealing with third party.
  C) Only a person who is likely to suffer loss hold take out an insurance cover
  D) There must be accuse connection between the actual loss suffered and risk insure
  Show Answer
  The correct answer is B .
• Question 976: The type of computer commonly found in office is? Options:
  A) laptop
  B) desktop
  C) the hybrid computer
  D) the mainframe computer
  Show Answer
  The correct answer is C .
• Question 977: The form of capital which is easily transferred into the form desired is known as? Options:
  A) working capital
  B) liquid capital
  C) circulating capital
  D) capital employed
  Show Answer
  The correct answer is C .
• Question 978: The financial instrument that entitles the holder to receive dividend and capital gains is a? Options:
  A) share
  B) bond
  C) bill of exchange
  D) treasury bill
  Show Answer
  The correct answer is A .
• Question 979: Which of the following contributed least to the evolution of commercial activities in Nigeria? Options:
  A) Development of banks
  B) Development oftransportation
  C) Development of trader's unions
  D) Development of currencies
  Show Answer
  The correct answer is D .
• Question 980:

  Use the information below to answer this question

  A B C Balance Sheet as at 31/12/2004

  ₦ Share capital 200,000 Reserves 100,000 Long term liabilities 40,000 Current liabilities 30,000 370,000

  ₦ Fixed assets 180,000 Investment 100,000 Current assets 50,000 Fictitious assets 40,000370,000

  What is the capital employed?

  Options:
  A) ₦ 340,000
  B) ₦ 200,000
  C) ₦ 300,000
  D) ₦ 170,000
  Show Answer
  The correct answer is C .