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 11: A distinction between Comprehensive insurance and Thrid party Insurance is that the latter covers damages Options:
  A) caused by the insured vehicle
  B) to the insured vehicle
  C) cause by the other vehicle
  D) to the driver of insured vehicle
  Show Answer
  The correct answer is A .
• Question 12: When it became necessary to liquidate a company, the frist step to be taken is the appointment of Options:
  A) a receiver
  B) an auditor
  C) an accountant
  D) liquidator
  Show Answer
  The correct answer is D .
• Question 13: One of the major disadvantages of pipeline transportation is its? Options:
  A) high cost of construction
  B) limitation in scope
  C) vulnerability to climate changes
  D) high maintainance cost
  Show Answer
  The correct answer is A .
• Question 14:

  Use the above information below to answer question 7 and 8.

  Mr obi is a manager of obi Agricultural Venture.

  He makes all the decisions and takes all profits

  From the business. H e had agreed with Alhaji Musa

  It can be deduce from the above that obi AgricultrualVenture is a

  (a farmer) to pool their resources together and

  Expand their business.They invited Mr Abayomi

  (a cotton grower) to join them. Mr Abayami agreed on the condition that his liability in the new firm will be limited to his investment in it. The thus registered Obi, Musa and Abayaomi''s Agricultural ventures.

  Options:
  A) A sole proprietorship
  B) general partnership
  C) limited partnership
  D) limited partnership
  E) joint partnership
  Show Answer
  The correct answer is A .
• Question 15: Computers that process all data as binary zeros and ones are Options:
  A) analog computers
  B) digital computers
  C) hybrid computers
  D) desktop computers
  Show Answer
  The correct answer is B .
• Question 16:

  The major objective of corporate mergers is to?

  Options:
  A) minimize the effect of taxation
  B) increase financial advantage
  C) enhance economies of sale
  D) facilitate profit maximization
  Show Answer
  The correct answer is C .
• Question 17: Trading on the stock exchange in anticipation of price change in the market value of shares is? Options:
  A) speculation
  B) forecasting
  C) expectation
  D) projection
  Show Answer
  The correct answer is A .
• Question 18: Safeguarding the health of the nation' is the slogan used by? Options:
  A) NDLEA
  B) NHIS
  C) NAFDAC
  D) EPL
  Show Answer
  The correct answer is C .
• Question 19:

  The arrangement and interrelationship of the various components and positions of a business is referred to as

  Options:
  A) line structure
  B) unity of direction
  C) organisational structure
  D) clarity of objective
  Show Answer
  The correct answer is C .
• Question 20: The minimum lending rate of a bank is a component of its Options:
  A) current assets
  B) debit balances
  C) credit balance
  D) fixed assets
  Show Answer
  The correct answer is A .