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 1871: The social responsibility factor of an organization is geared towards Options:
  A) contributing to the sustenance and development of its host community
  B) operating without disrupting the very esssence of the environment
  C) tackling the soci-economic problems of the state
  D) meeting the needs and demands of the shareholders
  Show Answer
  The correct answer is A .
• Question 1872: The instruments of credit includes? Options:
  A) billboards and postal stamps
  B) payment vouchers and statement of account
  C) bills of exchange and promissory notes
  D) bills of exchange and salary salary vouchers
  Show Answer
  The correct answer is C .
• Question 1873: A source of business financing which involves pledging of a specific assets is? Options:
  A) bond
  B) mortage
  C) debentures
  D) loan
  Show Answer
  The correct answer is B .
• Question 1874: A company has an authorized capital of 40 million shares at N1 per share, out of which 32 million shares have been issued and fully paid-up. The remaining 8 million shares have Options:
  A) been issued but have not been paid-up
  B) been applied for but not issued
  C) not been paid-up
  D) not yet been issued
  Show Answer
  The correct answer is D .
• Question 1875: The comprehensive import supervision scheme was set up by the federal government in order to Options:
  A) reverse Nigeria's unfavourable balance of trade
  B) promote fair trade between Nigeria and other countries
  C) counteract all fraudulent business deals of Nigeria with other nationals
  D) ensue that import into Nigeria are of the correct quality, value and quantity
  Show Answer
  The correct answer is D .
• Question 1876:

  One of the factors which critically determines the choice of occupation is?

  Options:
  A) training
  B) skill
  C) aptitude
  D) interest
  Show Answer
  The correct answer is B .
• Question 1877: The founders ‘share are usually referred to as deferred shares because the holders? Options:
  A) are entitled to cumulative dividends
  B) receive theirdividends after other shareholders
  C) receive their diviends before shareholders
  D) are not entitled to any dividends
  Show Answer
  The correct answer is B .
• Question 1878:

  A title, symbol, or design that distinguishes a company is called

  Options:
  A) Brand name
  B) Trademark
  C) copyright
  D) Patent right
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  The correct answer is B .
• Question 1879: The temporary insurance certificate issued to the insured before drawing up a policy is a? Options:
  A) cover note
  B) testimonial
  C) time policy
  D) proposal form
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  The correct answer is A .
• Question 1880:

  Commerce is defined as

  Options:
  A) buying and selling of goods and services only
  B) all activities in the distribution and exchange of goods and services
  C) all activities involved in the production of goods and services
  D) transporting and warehousing of goods only
  Show Answer
  The correct answer is B .