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 1741:

  

  Determine the owner's equity.

  Options:
  A) N 38 000 000
  B) N 20 000 000
  C) N 42 000 000
  D) N 25 000 000
  Show Answer
  The correct answer is A .
• Question 1742: The basis for international trade is embedded in the principle of Options:
  A) absolute advantage
  B) globalization
  C) deregulation
  D) comparative advantage
  Show Answer
  The correct answer is D .
• Question 1743:

  $\begin{array}{cc}N& N\\ \text{Capital 8000}& \text{Plant and machinery 5000}\\ \text{Net profit 4000}& \text{Motor van 4500}\\ \text{Drawings 200}& \text{Stock 2000}\\ \text{Creditors 2000}& \text{Debtor 1000}\\ \text{Accruals 300}& \text{Bank 100}\\ & \text{Cash 600}\\ 14100& 14100\end{array}$

  What is the acid ratio?

  Options:
  A) 1.13 : 1
  B) 2 : 1
  C) 4.75 : 1
  D) 4.25 : 1
  Show Answer
  The correct answer is A .
• Question 1744:

  Ships used for international transport are

  Options:
  A) oceanliners
  B) yachts
  C) launchers
  D) trawlers
  Show Answer
  The correct answer is A .
• Question 1745:

  The production of goods and services in anticipation of demand is made possible by

  Options:
  A) warehousing
  B) packaging
  C) branding
  D) advertising
  Show Answer
  The correct answer is A .
• Question 1746: The compensation the insured gets depends heavily on the? Options:
  A) economic situation
  B) premium paid
  C) risk suffered
  D) insurer's bouyancy
  Show Answer
  The correct answer is B .
• Question 1747: At the collapse of a business enterprise, the person appointed to dispose of all assets is called Options:
  A) a broker
  B) an auctioneer
  C) a liquidator
  D) an auditor
  Show Answer
  The correct answer is C .
• Question 1748: An opportunity to reject a binding contract at will by a third party is said to be a? Options:
  A) valid contract
  B) quasi contract
  C) voidable contract
  D) conditional contract
  Show Answer
  The correct answer is C .
• Question 1749: A historical building is a feature of? Options:
  A) cultural tourism
  B) industrial tourism
  C) agricultural tourism
  D) ecological tourism
  Show Answer
  The correct answer is A .
• Question 1750: The process of changing the form of a new material is known as? Options:
  A) fabrication
  B) extraction
  C) conversion
  D) production
  Show Answer
  The correct answer is D .