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 1: Citizens are against privatization mainly because of? Options:
  A) the rationalization of organizations
  B) increased prices of goods and services
  C) the likelihood of monopoly
  D) ineffective management
  Show Answer
  The correct answer is B .
• Question 2: The allocation of tasks to different skills in a production process is referred to as Options:
  A) production technique
  B) production function
  C) division of labour
  D) delegation of responsibility
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  The correct answer is C .
• Question 3: A pattern that shows the kinds of participants involved in the production, distribution and ultimate use of a product is referred to as? Options:
  A) selection
  B) strategy
  C) structure
  D) synergy
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  The correct answer is C .
• Question 4: Company has an authorized capital of 100millon shares at N1 per share, out of which 50 million shares have been issued and fully paid-up the remaining 50 million shares have Options:
  A) Not yet been issued
  B) Been applied for but not issued
  C) Not been paid-up
  D) Been issued but have not been paid-up
  Show Answer
  The correct answer is A .
• Question 5: The line function in a typical manufacturing enterprise is normally performed by the Options:
  A) public relations department
  B) estate or properties department
  C) marketing department
  D) legal department
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  The correct answer is C .
• Question 6: Under normal circumstances, a business enterprise can be ideally structured Options:
  A) by product, function or territories
  B) around the personalities in the enterprise
  C) on the ruling of the management
  D) on the basis of an order from stockholders
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  The correct answer is A .
• Question 7: A government policy that encourages transfer of ownership from foreigners to indigenes of the country is known as ____? Options:
  A) nationalisation
  B) privatisation
  C) indigenisation
  D) commercialisation
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  The correct answer is C .
• Question 8: The component of balance of payments which shows how the balance of both current and capital accounts are settled is know as Options:
  A) current account
  B) monetary movement account
  C) capital account
  D) social-welfare account
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  The correct answer is B .
• Question 9: One of the functions of seaports is the provision of? Options:
  A) berthing and landing facilities
  B) loading and off-loading facilities
  C) control room for relaying radio messages
  D) warehouses for storage of cargo
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  The correct answer is B .
• Question 10: One of the functions of a retailer is the? Options:
  A) financing of production activities
  B) provision of credit facilities to relations
  C) provision of jobs for customers
  D) breaking of bulk
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  The correct answer is D .