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: The conversion of raw materials into finished goods leads to the creation of? Options:
  A) form utility
  B) product utility
  C) possession utility
  D) place utility
  Show Answer
  The correct answer is A .
• Question 12: In case of a liquidation of a public limited liability company, those that are first paid are Options:
  A) ordinary shareholders
  B) prefernce shareholders
  C) cumulative preference shareholders
  D) debenture holders
  Show Answer
  The correct answer is D .
• Question 13: An oil exploration company is engaged in? Options:
  A) tertiary production
  B) constructive occupation
  C) extractive occupation
  D) secondary production
  Show Answer
  The correct answer is C .
• Question 14: Which of the following best describes an invoice? Options:
  A) Contractual agreement for the sale of goods
  B) Document specifying quantity, description, prices and total value of purchase .
  C) Receipt containing necessary information about the goods.
  D) Letter specifying the contractual sales of goods between two parties
  Show Answer
  The correct answer is B .
• Question 15:

  A company which another company is a member and control the board of directors or hold more than half of its equity is termed_______

  Options:
  A) Subsidiary
  B) Syndicate
  C) Holding Company
  D) Parent company
  Show Answer
  The correct answer is A .
• Question 16: The location of a business is mostly influenced by? Options:
  A) market outlet
  B) management decision
  C) capital
  D) environment
  Show Answer
  The correct answer is D .
• Question 17:

  An abridged message sent at express speed to reach its destination faster than the airmail letters is known as

  Options:
  A) Telephone
  B) Telegram
  C) Telex
  D) NITEL
  Show Answer
  The correct answer is B .
• Question 18: Under normal circumstances, a business enterprise can be ideally structured Options:
  A) by product, function or territories
  B) around the personalities in the enterprise
  C) on the ruling of the management
  D) on the basis of an order from stockholders
  Show Answer
  The correct answer is A .
• Question 19: The elimination of fault in a computer programme is called? Options:
  A) console
  B) debug
  C) dump
  D) loop
  Show Answer
  The correct answer is B .
• Question 20: Who is the offeree in this contract ? Options:
  A) Musa
  B) Audu
  C) Adamu
  D) Jacob
  Show Answer
  The correct answer is C .