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: Factors considered when setting up a retail business is one of the following _________ Options:
  A) capital, experience and trading
  B) experience, term of trade, and trading
  C) capital, trading and term of trade
  D) capital, type of goods and source of supply
  Show Answer
  The correct answer is D .
• Question 122:

  A responsibility to control environmental pollution is the responsibility of____

  Options:
  A) The business
  B) The government
  C) The consumer
  D) The employee
  Show Answer
  The correct answer is A .
• Question 123: Company has an authorized capital of 100millon shares at N1 per share, out of which 50 million shares have been issued and fully paid-up the remaining 50 million shares have Options:
  A) Not yet been issued
  B) Been applied for but not issued
  C) Not been paid-up
  D) Been issued but have not been paid-up
  Show Answer
  The correct answer is A .
• Question 124: The major responsibility of an entrepreneur is? Options:
  A) Employing all factors of production in the business
  B) coordinating and determining the proportion of what to produce
  C) planning and organizing all activities in the business
  D) directing and controlling all the affairs of the business
  Show Answer
  The correct answer is A .
• Question 125: One of the advantages of commercialization is that it? Options:
  A) encourages entrepreneuership
  B) increases the salaries of workers
  C) motivates governement to establish more business
  D) gives wortkers on-the-job training
  Show Answer
  The correct answer is A .
• Question 126: A direct service is rendered by Options:
  A) State counsels
  B) Civil servants
  C) Police
  D) Family doctor
  Show Answer
  The correct answer is D .
• Question 127: The major achievement of ECOWAS is? Options:
  A) the expansion of regional trade
  B) the emergance of a monetary union
  C) infrastructural development in member countries
  D) mobility of labour among member countries
  Show Answer
  The correct answer is A .
• Question 128:

  An undertaking given by a person to another assuring his integrity is

  Options:
  A) proximate cause
  B) insurable interest
  C) fidelity guarantee
  D) subrogation
  Show Answer
  The correct answer is C .
• Question 129: The major parties to an agency relationship are the? Options:
  A) principal and the creditor
  B) bailee and the bailor
  C) principal and the agent
  D) shareholder and the creditor
  Show Answer
  The correct answer is C .
• Question 130: The three components of staffing are? Options:
  A) recruitment, interview and appointment
  B) recruitment, test and placement
  C) recruitment, selection and appointment
  D) recruitment, selection and placement
  Show Answer
  The correct answer is D .