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 2061:

  The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is

  Options:
  A) indemnity
  B) contribution
  C) proximate cause
  D) uberrimae fidei
  Show Answer
  The correct answer is B .
• Question 2062:

  Which of the following is not a function of a consumer association?

  Options:
  A) Ensuring that consumers buy quality goods
  B) Educating consumers on their rights
  C) Penalizing importers of fake goods
  D) Ensuring that fair prices are charged
  Show Answer
  The correct answer is B .
• Question 2063: A console is a device used in Options:
  A) moving an indicator on the screen
  B) communicating between operator and programmer
  C) holding magnetic tape reel
  D) forming characters by heating sensitive ribbon
  Show Answer
  The correct answer is A .
• Question 2064: Social responsibility of an organization to? Options:
  A) tackle the socio-economic problem of its community
  B) meet the needs of its community
  C) contribute to sustaining and developing its community
  D) operate without disrupting the very essence of the enviroment
  Show Answer
  The correct answer is C .
• Question 2065: 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 2066: In Nigeria, the body ensures that its members operate according to their professional ethics is the? Options:
  A) SON
  B) NPF
  C) MAN
  D) NAFDAC
  Show Answer
  The correct answer is A .
• Question 2067: Authorized share capital is also known as? Options:
  A) called-up share capital
  B) paid-up share
  C) registered share capital
  D) issued share capital
  Show Answer
  The correct answer is C .
• Question 2068: The type of partnership in which all partners are jointly liable in bearing risk is? Options:
  A) limited partnership
  B) partnership-at-will
  C) ordinary partnership
  D) industral partnership
  Show Answer
  The correct answer is C .
• Question 2069:

  In the formation of a united liability company, the following documents are prepared except_______

  Options:
  A) Memorandum of Association
  B) Article of Association
  C) Statement of Nominal Capita
  D) Prospectus
  Show Answer
  The correct answer is D .
• Question 2070: Product involves Options:
  A) making goods avaiable where and when needed
  B) changing the form of goods, moving and making them avaiable as needed
  C) the manufacturing of goods and provision of services
  D) the assembling of all necessary parts to produce a finished product
  Show Answer
  The correct answer is B .