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 3041: The government policy thrust on the business environment is to? Options:
  A) promote experts
  B) attract investors
  C) be self-sufficient
  D) increase production
  Show Answer
  The correct answer is B .
• Question 3042:

  The type of communication from a superior to a subordinate in an organization is referredto as

  Options:
  A) downward communication
  B) upward communication
  C) lateral communication
  D) horizontal communication
  Show Answer
  The correct answer is A .
• Question 3043: The development of commercial activate in Nigeria was harnessed by Options:
  A) A good storage system
  B) Availability of market
  C) Increase in production
  D) Activities
  Show Answer
  The correct answer is A .
• Question 3044: Bank overdraft as a short term source of fund is Options:
  A) an overdrawn account
  B) granted to a newly opened account
  C) repayable after more than a year
  D) a current liability
  Show Answer
  The correct answer is A .
• Question 3045:

  Another name or term for a dishonoured cheque is

  Options:
  A) a bearer cheque
  B) an open cheque
  C) a bounced cheque
  D) an order cheque
  Show Answer
  The correct answer is C .
• Question 3046: The external environmental factors that affect a business cooperation are Options:
  A) Economic, Social and legal
  B) Political, Culture and Labour
  C) Competition, Labour and Political
  D) Competition, Industry and Product.
  Show Answer
  The correct answer is A .
• Question 3047:

  What is a Quota?

  Options:
  A) Tax pad on goods produced within a country
  B) A physical restriction placed on quantity of goods that can be imported
  C) Tax paid on goods produced outside a country
  D) Ban on all imported goods
  Show Answer
  The correct answer is B .
• Question 3048: The wealth of a nation depends on the volume of its? Options:
  A) bilateral trade activities
  B) commercial activities
  C) multilateral trade activities
  D) stock market
  Show Answer
  The correct answer is B .
• Question 3049:

  Use the information below to answer questions 3 and 4.

  Aboki Plc, became the insolvent and decided to wind up to meet the legitimate claims of its creditors.

  Babalawee was called in to manage the dissolution.

  After paying the debts of aboki Plc, the balance goes to?

  Options:
  A) Aboki Plc
  B) Babalawee
  C) shareholders
  D) creditors
  Show Answer
  The correct answer is C .
• Question 3050: Which of the following is a legal tender? Options:
  A) Cheque
  B) Travellers cheque
  C) Bank note
  D) Goldsmith receipt
  Show Answer
  The correct answer is C .