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 2221: The current highest decision-making body on privatization and commercialization of public enterprises in Nigeria is the? Options:
  A) National Council on Privatization
  B) Securities and Exchange Commission
  C) Nigeria Investment Promotion Commission
  D) Bureau of Public ENterprises
  Show Answer
  The correct answer is D .
• Question 2222: Aliyu bought 100 shares at the stock market through a stockbroker. He was told the price each share was N3 cum. div. This means that Aliyu Options:
  A) is entitled always to a cumulative dividends accruing from the shares
  B) is entitled to the next dividends due to the shares
  C) will not be entitled to the next dividends due to the shares
  D) still owes N3 on the shares which will be subtracted from the dividends
  Show Answer
  The correct answer is B .
• Question 2223:

  Thee major aim of consumer orientation is_________

  Options:
  A) consumer satisfaction
  B) consumer sovereignty
  C) what to produce
  D) market research
  Show Answer
  The correct answer is A .
• Question 2224: A major criticism of a cooperative society is? Options:
  A) limited capital
  B) granting exceessive loans to members
  C) selling goods on credit to non-members
  D) management incompetence
  Show Answer
  The correct answer is D .
• Question 2225:

  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 2226: The Nigeria Stock Exchange consist of ______ Options:
  A) primary and secondary-tier market
  B) secondary and primary market
  C) money and commodities market
  D) commercial and mortgage market
  Show Answer
  The correct answer is B .
• Question 2227: A term which indicates that share is temporarily suspended is Options:
  A) ex-dividend
  B) cum-dividend
  C) bond
  D) stock
  Show Answer
  The correct answer is A .
• Question 2228: The term 4 net 7 on an invoice means that? Options:
  A) 4% surcharge will be made unless payment iss made within seven days
  B) 4% discount will be allowed on the price charged only if the goods are bought within seven days
  C) 4% discount will be allowed on the price charged only if payment is made after seven days
  D) 4% discount will be allowed on the price charge if payment is made within seven days
  Show Answer
  The correct answer is D .
• Question 2229: A cheque drawn by a bank official on the bank's deposits in another bank on a customer's instruction is known as? Options:
  A) promissary note
  B) bankdraft
  C) banker's order
  D) travellers' cheque
  Show Answer
  The correct answer is C .
• Question 2230: A computer accessory through which information can be retrieved is the Options:
  A) hard disk
  B) input device
  C) control unit
  D) floppy disk
  Show Answer
  The correct answer is D .