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 31:

  Use this information to answer the question below.

  Aboki Plc became insolvent and decided to wind up to meet the legitimate claims of its creditors. Babalawee was called in to manage the dissolution.

  Babalawee is ___________?

  Options:
  A) a claimant
  B) a manager
  C) an assessor
  D) a reciever
  Show Answer
  The correct answer is D .
• Question 32:

  

  From the diagram above, what does I stand for?

  Options:
  A) aids to trade
  B) home trade
  C) publicity
  D) advertising
  Show Answer
  The correct answer is A .
• Question 33:

  The agency in Nigeria which ensures that products conform with government quality specifications is the?

  Options:
  A) standard organisation of Nigeria
  B) Nigeria consumer association
  C) manufacturers association of Nigeria
  D) Nigeria chambers of commerce
  Show Answer
  The correct answer is A .
• Question 34: The acronym PLC is used to identify a? Options:
  A) company limited by shares
  B) private company limited by shares
  C) public company limited by shares
  D) company limited by guarantee
  Show Answer
  The correct answer is C .
• Question 35: A feature common to privatization and commercialization is? Options:
  A) profit-making
  B) credit sales
  C) market expansion
  D) price increases
  Show Answer
  The correct answer is A .
• Question 36: Warehousing is important to manufacturers because it helps to? Options:
  A) improve the quality of goods
  B) produce goods in advance
  C) meet the demand of customers
  D) determine input rquirements
  Show Answer
  The correct answer is B .
• Question 37: The business organization that can effectively combine management with control is? Options:
  A) private limited liability company
  B) sole proprietorship
  C) public limited liability company
  D) co-operation society
  Show Answer
  The correct answer is B .
• Question 38:

  A public limited liability company having a nominal capital made up of 200 000 ordinary shares of 50k each decided to issued 50% of it to the public.

  What is the authorized capital?

  Options:
  A) N40 000
  B) N50 000
  C) 100 000
  D) 200 000
  Show Answer
  The correct answer is B .
• Question 39: A bill of exchange already accepted can be discounted by the holder in? Options:
  A) the central bank
  B) at least two banks
  C) his bank
  D) any bank
  Show Answer
  The correct answer is D .
• Question 40: Capital as a factor of production can be used as? Options:
  A) Money that is regarded as assets
  B) Goods that are useful in business
  C) Input for further production
  D) Services that provide satisfaction
  Show Answer
  The correct answer is C .