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 1071: An example of a trade association is? Options:
  A) ALGON
  B) NLC
  C) NURTW
  D) NULGE
  Show Answer
  The correct answer is A .
• Question 1072:

  Services are made up of

  Options:
  A) visible and invisible
  B) Industry and Commerce
  C) direct and indirect services
  D) Goods and Services
  Show Answer
  The correct answer is C .
• Question 1073: Which of the following will not be stated in a Memorandum of Association Options:
  A) Name clause
  B) rights of shareholders
  C) object clause
  D) registered office
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  The correct answer is C .
• Question 1074: One way government reduces the repatriation of capital is through Options:
  A) nationalization
  B) divestiture
  C) indidenization
  D) naturalization
  Show Answer
  The correct answer is C .
• Question 1075: Part payments made on allotted shares by subscribers is usually the Options:
  A) subscribed capital
  B) authorized capital
  C) issued capital
  D) called-up capital
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  The correct answer is D .
• Question 1076: The location of a business is mostly influenced by? Options:
  A) market outlet
  B) management decision
  C) capital
  D) environment
  Show Answer
  The correct answer is D .
• Question 1077: The comprehensive import supervision scheme was set up by the federal government in order to Options:
  A) reverse Nigeria's unfavourable balance of trade
  B) promote fair trade between Nigeria and other countries
  C) counteract all fraudulent business deals of Nigeria with other nationals
  D) ensue that import into Nigeria are of the correct quality, value and quantity
  Show Answer
  The correct answer is D .
• Question 1078:

  Any activity directed at conveying commodities to buyers is an aspect of

  Options:
  A) delivering
  B) advertising
  C) selling
  D) marketing
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  The correct answer is D .
• Question 1079:

  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 liabilities

  Options:
  A) 100
  B) 6000
  C) 600
  D) 3000
  Show Answer
  The correct answer is C .
• Question 1080: Which of the following is a form of social responsibility of a business? Options:
  A) Selling goods at cheaper prices
  B) Using the best technology available
  C) Maintaining tidy and safe environment
  D) Meeting contractor's obligations
  Show Answer
  The correct answer is C .