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 121: A contract that is acknowledged before the law court is referred to as Options:
  A) informal contract
  B) formal contract
  C) contract of records
  D) specialty contract
  Show Answer
  The correct answer is C .
• Question 122: Second-tier Securities Market differ from the First-tier Securities Market in that the former is? Options:
  A) highly restricted
  B) regulated by the SEC
  C) regulated by the NIPC
  D) less restricted
  Show Answer
  The correct answer is A .
• Question 123:

  In Nigeria, it is mandatory for all business enterprises to be registered with the________

  Options:
  A) Government
  B) Corporate Affairs Commission
  C) Agent
  D) Enterprise
  Show Answer
  The correct answer is B .
• Question 124: The portion of the authorized share capital given out to the public for subscription is Options:
  A) called-up capital
  B) issued capital
  C) paid-up capital
  D) reserved capital
  Show Answer
  The correct answer is B .
• Question 125:

  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 126: The oral presentation iv a conversation with one or more prospective buyers for the purpose of making sales is Options:
  A) branding of goods
  B) personal selling
  C) packaging
  D) publicity
  Show Answer
  The correct answer is B .
• Question 127: Service which are of absolute monopoly can can best be proved by Options:
  A) private companies
  B) limited liability companies
  C) public companies
  D) public enterprises
  Show Answer
  The correct answer is D .
• Question 128: One of the major disadvantages of pipeline transportation is its? Options:
  A) high cost of construction
  B) limitation in scope
  C) vulnerability to climate changes
  D) high maintainance cost
  Show Answer
  The correct answer is A .
• Question 129: One of the implications of the incorporation of a company is that Options:
  A) it is more difficult for the company to raise loans
  B) the company can sue but cannot be sued
  C) the company's property becomes distinguished from that of its members
  D) its members become liable for all the debts of the company
  Show Answer
  The correct answer is C .
• Question 130: The World Tourism Organization has its headquarters in? Options:
  A) New York
  B) Paris
  C) Madrid
  D) London
  Show Answer
  The correct answer is A .