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 1261:

  A merchant wholesaler is referred to as?

  Options:
  A) del-credere agent
  B) a broker
  C) rack jobber
  D) a factor
  Show Answer
  The correct answer is D .
• Question 1262: Bank Giro is a method of settling debt from a Options:
  A) customer to a bank
  B) bank to customer
  C) customer to another
  D) bank to another
  Show Answer
  The correct answer is A .
• Question 1263: A Digital Versatile Disk is an example of a Options:
  A) transmission control protocol
  B) microprocessor
  C) file transfer protocol
  D) computer storage device
  Show Answer
  The correct answer is D .
• Question 1264: An account maintained with a commercial bank for the purpose of foreign exchange transaction is the? Options:
  A) foreign account
  B) international account
  C) domiciliary account
  D) foreign reserves account
  Show Answer
  The correct answer is C .
• Question 1265: A liquidator's fee is to be charged to the? Options:
  A) realization account
  B) trading account
  C) revaluation account
  D) reconstruction account
  Show Answer
  The correct answer is A .
• Question 1266: The amount of authorized capital that shareholders have subscribed to is Options:
  A) issued share capital
  B) authorized share capital
  C) owner's equity
  D) working capital
  Show Answer
  The correct answer is B .
• Question 1267:

  When it becomes necessary to liquidate a company, the first step to be taken is the appointment of a?

  Options:
  A) a receiver
  B) an auditor
  C) an account
  D) a liquidator
  Show Answer
  The correct answer is D .
• Question 1268:

  All but one does not provide an Indirect Service?

  Options:
  A) Custom Officers
  B) Family Doctors
  C) Civil Servants
  D) Law Makers
  Show Answer
  The correct answer is A .
• Question 1269: Yahaya bought a piece of furniture on a credit sale agreement from Ahmed and resold it to Ali before all installments were made .The court upheld that Ahmed could not recover possession of the items from Ali. The reason for the judgement was because Options:
  A) ownership was transfered on completeion of installment
  B) ownership was transfered on delivery
  C) Yahaya could not pass title to a third party
  D) Ali was still indebted to Yahaya
  Show Answer
  The correct answer is B .
• Question 1270: The business organization established mainly for the purpose of carrying out specific assignments for a specific duration is a? Options:
  A) joint venture
  B) cooperative society
  C) partnership
  D) company
  Show Answer
  The correct answer is A .