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 1001:

  The stock exchange is a market where

  Options:
  A) short-term securities are sold
  B) medium term securities are sold
  C) all types of securities are sold
  D) long term securities are sold
  Show Answer
  The correct answer is C .
• Question 1002: The business with the best business objectives is Options:
  A) Okon
  B) Taiwo
  C) Kalu
  D) Musa
  Show Answer
  The correct answer is A .
• Question 1003: Which of the following is NOT backed by gold but by government securites? Options:
  A) Fiduciary note
  B) Token money
  C) Commodity money
  D) Fiat money
  Show Answer
  The correct answer is A .
• Question 1004: A partnership is dissolved due to ________ Options:
  A) liquidity of the firm
  B) death of the employee
  C) insanity of a partner
  D) resignation of an employee
  Show Answer
  The correct answer is C .
• Question 1005: In case of a liquidation of a public limited liability company, those that are first paid are Options:
  A) ordinary shareholders
  B) prefernce shareholders
  C) cumulative preference shareholders
  D) debenture holders
  Show Answer
  The correct answer is D .
• Question 1006: The insurance principle that requires full disclosure of information on the insured is known as Options:
  A) indemnity
  B) uberrimae fidei
  C) subrogation
  D) caveat emptor
  Show Answer
  The correct answer is B .
• Question 1007: The variety of goods and services which a company offers for sale is its? Options:
  A) place mix
  B) promotion mix
  C) price mix
  D) product mix
  Show Answer
  The correct answer is D .
• Question 1008: Which of the following industries is normally located near the source of its raw materials? Options:
  A) Footware industry
  B) Cement industry
  C) Textile industry
  D) Automobile assembly
  Show Answer
  The correct answer is B .
• Question 1009: A firm that adapts itself to delivering the desired satisfaction more effectively than its competitors is said to be practicing? Options:
  A) price concept
  B) distribution concept
  C) product concept
  D) markting concept
  Show Answer
  The correct answer is D .
• Question 1010: The most effective nut limited medium of advertising in Nigeria is? Options:
  A) billboard
  B) television
  C) newspaper
  D) radio
  Show Answer
  The correct answer is A .