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 1101: Manufacturers' Association of Nigeria contributes to development by advising the government on? Options:
  A) industrial policy and harmony
  B) budget and budgetary control
  C) budget and industrial control
  D) environmental protection policy
  Show Answer
  The correct answer is A .
• Question 1102: The breaking down of a market into separate and identifiable elements is known as Options:
  A) differentiation
  B) segmentation
  C) skimming
  D) penetration
  Show Answer
  The correct answer is B .
• Question 1103: A bank form used to transfer money from personal to creditor's account is called? Options:
  A) debits transfer form
  B) credit transfer form
  C) customers transfer form
  D) banks transfer form
  Show Answer
  The correct answer is A .
• Question 1104:

  The main objective of corporate mergers is to?

  Options:
  A) minimize the effect of taxation
  B) increase financial advantage
  C) facilitate profit maximization
  D) enhance economies of scale
  Show Answer
  The correct answer is D .
• Question 1105: Staff position in an organization borders on Options:
  A) authority
  B) advice
  C) responsibility
  D) control
  Show Answer
  The correct answer is C .
• Question 1106:

  Why is clear bill of lading called so?

  Options:
  A) It shows records of damaged goods
  B) It shows no records of damaged goods
  C) It is a clear bill
  D) It signifies no debt is owed
  Show Answer
  The correct answer is B .
• Question 1107:

  A distinguishing characteristic of a limited liability company is that

  Options:
  A) is a collection of many sole proprietors
  B) is a multiple partnership
  C) has limited resources
  D) can sue and be sued
  Show Answer
  The correct answer is C .
• Question 1108:

  The issue of prospectus by a company is an invitation to members of the public to

  Options:
  A) subscribe to the company's shares
  B) attend the company's Annual general Meeting
  C) buy the company's products
  D) attend the company's board meeting
  Show Answer
  The correct answer is A .
• Question 1109:

  $\begin{array}{cccc}\text{Name}& \text{Insure amount}& \text{Actual value}& \text{Actual loss}\\ \text{Mr A}& 30,000& 100,000& 40,000\\ \text{Mr B}& 40,000& 120,000& 50,000\\ \text{Mr C}& 50,000& 15,000& 70,000\end{array}$

  If Mr A takes a fire insurance policy with average clause, his compensation will be

  Options:
  A) N15,000
  B) N20,000
  C) N12,000
  D) N25, 000
  Show Answer
  The correct answer is C .
• Question 1110: Petrol voucher is an example of a Options:
  A) bankdraft
  B) legal tender
  C) token money
  D) partial money
  Show Answer
  The correct answer is D .