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 411:

  One of these is a current asset

  Options:
  A) machineries
  B) fittings
  C) stock
  D) motor vehicles
  Show Answer
  The correct answer is C .
• Question 412: The process of dividing task into jobs and departments and of delegating authority is known as? Options:
  A) staffing
  B) leading
  C) directing
  D) organizing
  Show Answer
  The correct answer is D .
• Question 413: A major criticism of a cooperative society is? Options:
  A) limited capital
  B) granting exceessive loans to members
  C) selling goods on credit to non-members
  D) management incompetence
  Show Answer
  The correct answer is D .
• Question 414: The difference between total current assets and total current liabilities of a business is known as Options:
  A) quick ratio
  B) liquidity ratio
  C) working capital
  D) circulating capital
  Show Answer
  The correct answer is C .
• Question 415: Which of the is a risk-free security? Options:
  A) Preference share
  B) Ordinary share
  C) Treasury bill
  D) Debenture
  Show Answer
  The correct answer is C .
• Question 416:

  A number of shipping lines operating on a certain route, which agree on a common policy regarding the conditions under which goods are to be carried

  Options:
  A) Cartel
  B) Conference
  C) Syndicate
  D) Trust
  Show Answer
  The correct answer is B .
• Question 417:

  The government agency involved in issuing of export licences is

  Options:
  A) Nigeria Port Authority
  B) Customs and Excise Authority
  C) Nigeria Export Promotion Council
  D) Nigeria Export Processing Zone
  Show Answer
  The correct answer is C .
• Question 418: One of the main features of a partnership is? Options:
  A) limited liability
  B) lack of corporate existence
  C) unlimited membership
  D) lack of utual confidence
  Show Answer
  The correct answer is B .
• Question 419:

  What is a quota?

  Options:
  A) ban on all imported goods
  B) a physical restriction placed on quantity of goods that can be imported
  C) tax paid on goods produced within a country
  D) tax paid on goods produced outside a country
  Show Answer
  The correct answer is B .
• Question 420: The organizational structure that relates the positions of specialist to the line mangers is called? Options:
  A) line structure
  B) staff structure
  C) line and staff structure
  D) functional structure
  Show Answer
  The correct answer is B .