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 2991: Spot market goods are those which are available for Options:
  A) immidiate delivery
  B) short-term delivery
  C) long-term delivery
  D) end of the delivery
  Show Answer
  The correct answer is A .
• Question 2992: The excess of the assets over the liabilities of a business is called? Options:
  A) working capital
  B) net worth
  C) capital employed
  D) initial capital
  Show Answer
  The correct answer is B .
• Question 2993: Most of the barriers to international trade have been eliminated through? Options:
  A) diversification
  B) globalization
  C) commercialization
  D) privatization
  Show Answer
  The correct answer is B .
• Question 2994:

  The maximum number of shareholders in a public liability company is

  Options:
  A) One hundred
  B) Unlimited
  C) Fifty
  D) Twenty
  Show Answer
  The correct answer is B .
• Question 2995: A major function of trade association is to _______ Options:
  A) assist members to buy cars
  B) help individuals to set up small business
  C) establish a link among member
  D) foster cooperation among members
  Show Answer
  The correct answer is D .
• Question 2996: The body that organizes, promotes and participates in local and foreign trade fairs is the Options:
  A) Ministry of Commerce and Tourism
  B) Ministry of finance
  C) Chambers of Commerce
  D) Export Promotion Council
  Show Answer
  The correct answer is C .
• Question 2997: Who is the offeree in this contract ? Options:
  A) Musa
  B) Audu
  C) Adamu
  D) Jacob
  Show Answer
  The correct answer is C .
• Question 2998: The payment made by a speculator to the buyer when he is unable to deliver stocks on the agreed date is Options:
  A) arbitage
  B) franco
  C) contango
  D) backwardation
  Show Answer
  The correct answer is D .
• Question 2999: The type of activity which turns processed raw materials into consumer and industrial goods is described as ________ Options:
  A) extractive
  B) manufacturing
  C) constructive
  D) processing
  Show Answer
  The correct answer is B .
• Question 3000:

  (i) Personal Savings

  (ii) Retained Earnings

  (iii) Accrued taxes

  Which of the items above constitute internal sources of financing for companies?

  Options:
  A) i and ii
  B) i and iii
  C) ii and iii
  D) i, ii and iii
  Show Answer
  The correct answer is C .