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:

  The board of directors of public enterprise is appointed by who?

  Options:
  A) Employees
  B) management
  C) government
  D) shareholders
  Show Answer
  The correct answer is D .
• Question 2: When it became necessary to liquidate a company, the frist step to be taken is the appointment of Options:
  A) a receiver
  B) an auditor
  C) an accountant
  D) liquidator
  Show Answer
  The correct answer is D .
• Question 3:

  Use the following information to answer this question.

  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 assets

   

  Options:
  A) 1600
  B) 1060
  C) 1500
  D) 600
  Show Answer
  The correct answer is A .
• Question 4:

  A document used to ensure correct payment of duty at the importing country is

  Options:
  A) documentary credit
  B) consular invoice
  C) certificate of origin
  D) bill of lading
  Show Answer
  The correct answer is D .
• Question 5:

  A market is said to be bullish if_________

  Options:
  A) There is a fail in prices of Securities
  B) There is a rise in prices of Securities
  C) There is a rise above the offer prices
  D) The speculator fails to deliver stock to the buyer
  Show Answer
  The correct answer is B .
• Question 6:

  EXTERNAL ENVIRONMENT → INTERNAL ENVIRONMENT → EXTERNAL ENVIRONMENT

  Which of the following sequences can best fit into the structure above?

  Options:
  A) People → control → ideals
  B) Material → production → ideas
  C) Finance → marketing → production
  D) Material → production → product
  Show Answer
  The correct answer is D .
• Question 7: Inbound tourism occurs when Options:
  A) non-resident s of a country travel within it.
  B) non- resident of a country travel to other countries
  C) resident of a country travel within it
  D) Residents of a country travel to other countries.
  Show Answer
  The correct answer is C .
• Question 8: One of the main objectives of the Second-tier Securities Market in Nigeria is to Options:
  A) achieved a realistic exchange rate for the naira
  B) eliminate currency dealings in the black market
  C) assist companies to raise capital
  D) attract investment flow
  Show Answer
  The correct answer is D .
• Question 9: A body established to protect the interest of members against the exploitation of retail traders and manufacturers is the? Options:
  A) whloesalers' association
  B) consumers association
  C) government agency
  D) workers' union
  Show Answer
  The correct answer is B .
• Question 10: A sole proprietor insured his goods worth N200,000 for half the value. There was a fire accident in which goods valued N80,000 were destroyed. The value of compensation expected from the insurer is Options:
  A) N40,000
  B) N80,000
  C) N100,000
  D) N200,000
  Show Answer
  The correct answer is C .