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 481:

  A bill of exchange already accepted can be discounted by the holder in

  Options:
  A) the central bank
  B) his bank
  C) at least two banks
  D) any bank
  Show Answer
  The correct answer is D .
• Question 482:

  Which of the following organizations provide essential goods and services at low cost to citizens?

  Options:
  A) Thrift societies
  B) Public enterprises
  C) Private companies
  D) Cooperative societies
  Show Answer
  The correct answer is B .
• Question 483: The Central Bank differs from commercial banks because it? Options:
  A) renders service to customers
  B) carries out foreign exchange transactions
  C) issues currencies
  D) discounts bills
  Show Answer
  The correct answer is C .
• Question 484: An aspect of marketing that stimulates buying by providing free gifts is? Options:
  A) advertising
  B) personal selling
  C) publicity
  D) sales promotion
  Show Answer
  The correct answer is D .
• Question 485: Mr Olatude took up a fire insurance on a property valued at N1000 and the amount insured is N 800. If the insurance was taking with the clause ‘with average ‘, What is the amount to be paid by the insurance company? Options:
  A) N320
  B) N420
  C) N460
  D) N560
  Show Answer
  The correct answer is A .
• Question 486: The members of ECOWAS include? Options:
  A) Nigeria, Chad, Gabon and Cape Verde
  B) Burkina Faso, Nigeria and Ghana
  C) Guinea, Mali, Cameroun and Nigeria
  D) Togo, Niger, Nigeria and Ghana
  Show Answer
  The correct answer is D .
• Question 487: Which of the following aspects of marketing stimulates buying by providing free gifts Options:
  A) a personal selling
  B) sales promotion
  C) advertising
  D) publicity
  Show Answer
  The correct answer is B .
• Question 488: The process of changing the form of a new material is known as? Options:
  A) fabrication
  B) extraction
  C) conversion
  D) production
  Show Answer
  The correct answer is D .
• Question 489: Which of the following statement is true of preferred stockholders? Options:
  A) They have no voting rights at annual general meetings
  B) They first claim company asset before creditors
  C) The have first claim to company asset after all debts have been settled
  D) They share dividends equally with common shareholders
  Show Answer
  The correct answer is A .
• Question 490: A company has an authorized capital of 40 million shares at N1 each, out f which 32 million are issued and fully paid-up. What happens to the remaining 8 million shares? Options:
  A) it has been issued but not paid-up
  B) it has been applied for but not issued
  C) it is not paid-up
  D) it has not yet been issued
  Show Answer
  The correct answer is D .