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 1951:

  A public company with an authorized capital of N60,000, issued N36,000 shares at 150k each.

  What is its capital?

  Options:
  A) N60,000
  B) N36,000
  C) N54,000
  D) N90,000
  Show Answer
  The correct answer is C .
• Question 1952: Which software program can be used to generate financial reports from a company's client list? Options:
  A) MS Word
  B) Database
  C) MS Excel
  D) Adobe
  Show Answer
  The correct answer is C .
• Question 1953: Rights issue means the Options:
  A) issue of shares to the directors of a company on favourable terms
  B) Issue of shares by a company only to the founders of the company
  C) right of shareholders to vote on any issue
  D) issue of shares to shareholders on favourable terms
  Show Answer
  The correct answer is D .
• Question 1954: The three components of staffing are? Options:
  A) recruitment, interview and appointment
  B) recruitment, test and placement
  C) recruitment, selection and appointment
  D) recruitment, selection and placement
  Show Answer
  The correct answer is D .
• Question 1955: Foreign trade also involves? Options:
  A) providing services for other countries
  B) specialization and the exchange of goods in a country
  C) buying and selling within a country
  D) the exchange of goods and services between firms
  Show Answer
  The correct answer is A .
• Question 1956: The difference between a factor and a broker is that the former Options:
  A) is licensed to sell goods on auction
  B) has a lien on the goods he possesses
  C) is not in possession of the goods
  D) cannot sell in his own name
  Show Answer
  The correct answer is B .
• Question 1957: A factor in a business environment which increases the rate of product obsolescence is? Options:
  A) technology
  B) political
  C) legal
  D) economic
  Show Answer
  The correct answer is A .
• Question 1958:

  The share value stated on a share certificate is

  Options:
  A) above par value
  B) below par value
  C) market value
  D) nominal value
  Show Answer
  The correct answer is D .
• Question 1959: To increase the supply of money in a country, the central bank has to? Options:
  A) reduce cash ratio
  B) sell securities
  C) call on special deposits
  D) raise cash ratio
  Show Answer
  The correct answer is A .
• Question 1960: The West African clearing House became legally operational on Options:
  A) 1st july, 1976
  B) 25th june, 1975
  C) 14th march, 1975
  D) 3rd may, 1974
  Show Answer
  The correct answer is A .