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 141:

  A public company has 2 000 000 ordinary shares of 50k each and offers 50% for subscription at N2 per share.

  If the shares were fully subscribed, calculate the issued capital?

  Options:
  A) N4 000 000
  B) N2 000 000
  C) N1 000 000
  D) 500 000
  Show Answer
  The correct answer is D .
• Question 142: What document is required when a country imposes valorem import duties on goods? Options:
  A) mail transfer
  B) shipping note
  C) bill of lading
  D) consular invoice
  Show Answer
  The correct answer is B .
• Question 143:

  Which function of money is described in the following statement?

  It serves as a medium through which business transactions are carried out

  Options:
  A) Standard for deferred payments s
  B) Medium of exchange
  C) Store of value
  D) Unit of account
  Show Answer
  The correct answer is A .
• Question 144: Bank overdraft as a short term source of fund is Options:
  A) an overdrawn account
  B) granted to a newly opened account
  C) repayable after more than a year
  D) a current liability
  Show Answer
  The correct answer is A .
• Question 145:

  A printer that burns the print image into the photosensitive drum is called?

  Options:
  A) dot matrix printer
  B) laser printer
  C) daisy wheel printer
  D) thermal printer
  Show Answer
  The correct answer is B .
• Question 146: A memorandum of association is applicable to a Options:
  A) partnership
  B) sole trader
  C) joint stock company
  D) public corporation
  Show Answer
  The correct answer is C .
• Question 147: The organizational structure that relates the positions of specialist to the line mangers is called? Options:
  A) line structure
  B) staff structure
  C) line and staff structure
  D) functional structure
  Show Answer
  The correct answer is B .
• Question 148: The wealth of a nation depends on the volume of its? Options:
  A) bilateral trade activities
  B) commercial activities
  C) multilateral trade activities
  D) stock market
  Show Answer
  The correct answer is B .
• Question 149:

  Which of these is a document used in International trade?

  Options:
  A) Debit note
  B) Credit note
  C) Invoice
  D) Price ring
  Show Answer
  The correct answer is C .
• Question 150: The conversion of raw materials into finished products creates? Options:
  A) form utility
  B) marginal utility
  C) place utility
  D) time utility
  Show Answer
  The correct answer is A .