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 1311:

  Use the information below to answer questions 13 and 14

  	#
  Sales	50,000.00
  Debtors	10,000.00
  Cash in hand	5,000.00
  Opening stock	30,000.00
  Creditors	8,000

  Options:
  A) #35,000.00
  B) #20,000.00
  C) #5,000.00
  D) #14,000.00
  Show Answer
  The correct answer is C .
• Question 1312: A pattern that shows the kinds of participants involved in the production, distribution and ultimate use of a product is referred to as? Options:
  A) selection
  B) strategy
  C) structure
  D) synergy
  Show Answer
  The correct answer is C .
• Question 1313: The practice whereby government relinquishes its ownership interest in a public enterprises is? Options:
  A) commercialization
  B) indegenization
  C) privatization
  D) nationalization
  Show Answer
  The correct answer is C .
• Question 1314: The environmental hazard that is most difficult to control is Options:
  A) land pollution
  B) water pollution
  C) air pollution
  D) political unrest
  Show Answer
  The correct answer is C .
• Question 1315: The direct authority of a superior over his subordinate is known as Options:
  A) staff authority
  B) line authority
  C) line and staff authority
  D) office authority
  Show Answer
  The correct answer is B .
• Question 1316:

  You have just bought a new car. What Insurance policy will you take to cover it?

  Options:
  A) Accident Insurance
  B) Fire Insurance
  C) Marine Insurance
  D) Fidelity Guarantee Insurance
  Show Answer
  The correct answer is A .
• Question 1317: A per-requiste for admission into the Second Tier Securities Market is for a company to? Options:
  A) make 20% of its equity share available to the public for subscription
  B) have a minimum of 100 shareholders
  C) have a maximum of 100 shareholders
  D) make 10% of its equity share available to thee public for subscription
  Show Answer
  The correct answer is D .
• Question 1318: Labour as an input in production can be motivated by Options:
  A) training
  B) profit
  C) remuneration
  D) promotion
  Show Answer
  The correct answer is C .
• Question 1319: A shop which consist of many stores trading under a single roof and which stocks varieties of goods with each unit having its own head is a? Options:
  A) mulitple shop
  B) supermarket
  C) superstore
  D) departmental store
  Show Answer
  The correct answer is D .
• Question 1320: Which of the following legislation aims primarily at the protection of consumers? Options:
  A) Law of contract
  B) Trade description Act
  C) Company's Act
  D) Partnership Act
  Show Answer
  The correct answer is B .