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 21: Consumers require protection against exploitation to ensure? Options:
  A) adequate consumer awareness
  B) availability of products variety
  C) the sale of quality products
  D) increased aggregate demand
  Show Answer
  The correct answer is C .
• Question 22:

  The excess of the assets over the liabilities of a business is called

  Options:
  A) capital employed
  B) net worth
  C) working capital
  D) initial capital
  Show Answer
  The correct answer is B .
• Question 23: Which of the following legislation aims primarily at the protection of consumers? Options:
  A) Law of contract
  B) Trade description Act
  C) Company's Act
  D) Partnership Act
  Show Answer
  The correct answer is B .
• Question 24: A body established to protect the interest of members against the exploitation of retail traders and manufacturers is the? Options:
  A) whloesalers' association
  B) consumers association
  C) government agency
  D) workers' union
  Show Answer
  The correct answer is B .
• Question 25: The main difference between nationalization and indigenization is in terms of Options:
  A) shareholding
  B) profit
  C) technology
  D) efficiency
  Show Answer
  The correct answer is C .
• Question 26:

  A provision in the charter of a company which gives holders of common stock the first option to purchase additional issues of the firm's common stock is the

  Options:
  A) pre-emptive right
  B) over-subscription right
  C) ex-dividend right
  D) shareholders right
  Show Answer
  The correct answer is A .
• Question 27:

  Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

  	₦		₦
  Opening stock Purchase	1000 7000	Sales	8000
  Closing Stock	3000

  Trading Expenses

  Electricity Salaries Rent Depreciations

  ₦ 135 875 180 210

  From the figures given, calculate

  Net profit

  Options:
  A) 1400
  B) 5000
  C) 1600
  D) 6400
  Show Answer
  The correct answer is C .
• Question 28: On liquidation of a public limited liability company, the residual owners are the Options:
  A) creditors
  B) ordinary shareholders
  C) preference shareholders
  D) debenture holders
  Show Answer
  The correct answer is B .
• Question 29:

  $\begin{array}{cc}\text{Opening stock}& 1800\\ \text{Purchases}& 2800\\ \text{Sales}& 800\\ \text{Closing stock}& 800\\ \text{Carriage on sale}& 500\end{array}$

  Calculate the value of the unused stock.

  Options:
  A) N320
  B) N350
  C) N500
  D) N800
  Show Answer
  The correct answer is D .
• Question 30:

  A market is said to be bullish if_________

  Options:
  A) There is a fail in prices of Securities
  B) There is a rise in prices of Securities
  C) There is a rise above the offer prices
  D) The speculator fails to deliver stock to the buyer
  Show Answer
  The correct answer is B .