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 171: When a firm speaker of stock appreciation, it refers to Options:
  A) change in the value of its stocks resulting from price movement
  B) increase in the price of it shared quoted on the stock exchange
  C) an unexpected increase in the demand of its stock
  D) the value of its stock in the stock exchange
  Show Answer
  The correct answer is C .
• Question 172: The acronym PLC is used to identify a? Options:
  A) company limited by shares
  B) private company limited by shares
  C) public company limited by shares
  D) company limited by guarantee
  Show Answer
  The correct answer is C .
• Question 173: The right to retain possession of goods until the contract price is paid is referred to as Options:
  A) a promise
  B) ultra vires
  C) a breach
  D) a lien
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  The correct answer is D .
• Question 174: A business organization can obtain long term financing through Options:
  A) bank overdraft
  B) the sale of shares
  C) credit purchases
  D) bureau de change
  Show Answer
  The correct answer is B .
• Question 175: A feature common to public and private limited liability companies is that Options:
  A) both can sue and be sued
  B) the minimum number of their shareholders is five
  C) the transfer of their shares is not restricted
  D) their annual accounts are published for public use
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  The correct answer is A .
• Question 176: A source of capital to private limited companies is shares issued to Options:
  A) the public
  B) selected persons
  C) members of the borad of directors
  D) dedicated members of staff
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  The correct answer is B .
• Question 177: A demerit of communication is that it ________ Options:
  A) makes payment for goods cumbersome
  B) increase the cost of goods in transit
  C) give room for distortion of fact
  D) hinder quick reception of messages over a long distance
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  The correct answer is C .
• Question 178: The agreement of insurers to spread risks among themselves is a major feature of? Options:
  A) reinsurance
  B) life insurance
  C) underwriter
  D) marine insurance
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  The correct answer is A .
• Question 179:

  The growth of commerce is not enhanced by

  Options:
  A) development of modern forms of production
  B) government participation in business
  C) high population growth
  D) low per capita income
  Show Answer
  The correct answer is D .
• Question 180: The net profit is the excess of gross profit and sources of income over all the expenses . This implies that net profit is Options:
  A) the difference between gross profit and trade expenses
  B) the different between gross profit and net sales
  C) sales less cost of sales including sales returns
  D) opening stock add purchases less closing stock
  Show Answer
  The correct answer is A .