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 1981:

  One of the disadvantages of Sole Proprietorship is__________

  Options:
  A) It requires small operations
  B) It involves small capital
  C) It lacks specialization
  D) Grants from government
  Show Answer
  The correct answer is C .
• Question 1982: One of the factors which critically determines the choice of occupation is Options:
  A) traning
  B) skills
  C) aptitude
  D) interest
  Show Answer
  The correct answer is B .
• Question 1983: In which of the following circumstances is a court order NOT necessary for the winding up of a company? Options:
  A) supension of businesss for one year
  B) special resolution of members
  C) reduction in the number of members below the legal minimum
  D) inability to pay it debts
  Show Answer
  The correct answer is B .
• Question 1984: Water corporation is an example of ______? Options:
  A) co-operative society
  B) public enterprise
  C) private enterprise
  D) limited company
  Show Answer
  The correct answer is B .
• Question 1985:

  The process of dividing tasks into jobs and departments and delegating authority is known as

  Options:
  A) directing
  B) leading
  C) organizing
  D) staffing
  Show Answer
  The correct answer is C .
• Question 1986: The main factors militating against the rapid growth of trade in Nigeria are? Options:
  A) inadequate transportation network and huge capital outlay
  B) lack of motivation and government attitude towards trade
  C) lacks of good transportation network and insecurity of investment
  D) huge capital outlay and government attitude to trade
  Show Answer
  The correct answer is C .
• Question 1987:

  When does the buyer in a hire purchase becomes the owner of the goods?

  Options:
  A) When all installments have been fully paid
  B) After payment of the first installment
  C) Before the payment of the first installment
  D) When half of the purchased price has been paid
  Show Answer
  The correct answer is A .
• Question 1988: Unresolved disputes between the employer and employees are usually referred to the? Options:
  A) code of conduct bureau
  B) personnel unit
  C) disciplinary committee
  D) industrial arbitration tribunal
  Show Answer
  The correct answer is D .
• Question 1989: A major merit of the retaining middlemen is to _______ Options:
  A) pay cash to the bank: for manufacturers
  B) stock perishable goods
  C) regulate price for manufacturers
  D) stock goods produced by different manufacturer
  Show Answer
  The correct answer is D .
• Question 1990:

  One of these is a current asset

  Options:
  A) Fittings
  B) Machineries
  C) Motor vehicles
  D) stock
  Show Answer
  The correct answer is D .