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 231: The second tier security market is Options:
  A) an appendage to the Nigeria stock exchange
  B) a member of the Nigeria stock exchange
  C) meant for the shares of quoted private companies
  D) a regulating arm of the Nigerian stock exchange
  Show Answer
  The correct answer is B .
• Question 232: The major parties to an agency relationship are the? Options:
  A) principal and the creditor
  B) bailee and the bailor
  C) principal and the agent
  D) shareholder and the creditor
  Show Answer
  The correct answer is C .
• Question 233: A proposed company may not be registered if? Options:
  A) the name conficits with that of another
  B) it does not put 'limited' after its proposed name
  C) it has no paid-up capital
  D) it has no asset of its own
  Show Answer
  The correct answer is A .
• Question 234: The document which can be exchange for a bill of lading is? Options:
  A) freight note
  B) mate receipt
  C) export invoice
  D) ship report
  Show Answer
  The correct answer is A .
• Question 235: If a firm's turnover is N15,000 and the cost of goods sold is N 10,000 What is the percentage of gross profit on sales? Options:
  A) 23.3%
  B) 33.3%
  C) 50.0%
  D) 66.6%
  Show Answer
  The correct answer is B .
• Question 236: Charges for loans paid by commercial banks to the Central Bank of Nigeria are called? Options:
  A) bank rates
  B) credits charges
  C) interest rates
  D) bank charges
  Show Answer
  The correct answer is A .
• Question 237: The main function of thrift, credit and loans co-operative societies is to Options:
  A) educate their members
  B) collect money from their members
  C) disburse money to their members
  D) raise investment finance among thir members
  Show Answer
  The correct answer is D .
• Question 238:

  Someone traveling abroad for at least "twenty - four hours" and a maximum stay of six months is known as

  Options:
  A) Transportation
  B) Tourism
  C) International trade
  D) Domestic tourism
  Show Answer
  The correct answer is B .
• Question 239: A close indent is an instrument to an agent to Options:
  A) order goods from a particular manufacturer
  B) order goods from any manufacturer
  C) sell gods to any firm
  D) sell goods to a certain firm
  Show Answer
  The correct answer is A .
• Question 240: 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 .