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 1371: Quantity discount is offerred mainly to persuade the buyer to Options:
  A) defer payment
  B) make prompt purchases
  C) make advance payment
  D) purchase more
  Show Answer
  The correct answer is B .
• Question 1372: A company has an authorized capital of 40 million shares at N1 each, out f which 32 million are issued and fully paid-up. What happens to the remaining 8 million shares? Options:
  A) it has been issued but not paid-up
  B) it has been applied for but not issued
  C) it is not paid-up
  D) it has not yet been issued
  Show Answer
  The correct answer is D .
• Question 1373: Which of the following is the best method for computing working capital Options:
  A) Total assets less current liabilities
  B) Current liabilities less current assets
  C) Fixed liabilities less current assets
  D) Current assets less current liabilities
  Show Answer
  The correct answer is A .
• Question 1374: The quality of money that describe its uniformity is Options:
  A) recognizability
  B) durability
  C) portability
  D) homogeneity
  Show Answer
  The correct answer is D .
• Question 1375: 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
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  The correct answer is A .
• Question 1376: The business environment that takes into cognizance the age distribution ethnic mix and educational level of the consumer is Options:
  A) Natural Environment
  B) Cultural environment
  C) Economic environment
  D) Demographic Environment
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  The correct answer is D .
• Question 1377: When a price is quoted at F.O.B. it means that the price? Options:
  A) excludes loading charges incurred in bringing the goods to port of destinction
  B) exclude all necessary shipping charges payable for insurrance
  C) includes all charges payable on shipping a consignment to the port destination
  D) includes charges payable for for loading goods onto the ship
  Show Answer
  The correct answer is C .
• Question 1378: Partnerships are most effective where? Options:
  A) the partners are family friends
  B) professionals are involved
  C) members can easily raise enough capital
  D) government regulations are favorable
  Show Answer
  The correct answer is B .
• Question 1379:

  Ships used for international transport are

  Options:
  A) oceanliners
  B) yachts
  C) launchers
  D) trawlers
  Show Answer
  The correct answer is A .
• Question 1380: Money can be simply be referred to as a Options:
  A) measure of value
  B) standard of value
  C) means of settlement
  D) durable asset for doing business
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  The correct answer is A .