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 41: The line function in a typical manufacturing enterprise is normally performed by the Options:
  A) public relations department
  B) estate or properties department
  C) marketing department
  D) legal department
  Show Answer
  The correct answer is C .
• Question 42: Rights issue means the Options:
  A) issue of shares to the directors of a company on favourable terms
  B) Issue of shares by a company only to the founders of the company
  C) right of shareholders to vote on any issue
  D) issue of shares to shareholders on favourable terms
  Show Answer
  The correct answer is D .
• Question 43: An association to which all chambers of commerce in Nigeria are affiliated is the? Options:
  A) Nigeria Labour Congress
  B) National Association of Chambers of commerce, industry, Mines and Agriculture
  C) Nigeria Association of Chambers of commerce, industry, Mines and Agriculture
  D) Nigeria Stock Exchange
  Show Answer
  The correct answer is C .
• Question 44: After-sales service is a function usually rendered by? Options:
  A) a retailer
  B) a wholesaler
  C) an agent
  D) an enterpreneur
  Show Answer
  The correct answer is A .
• Question 45: Which of the following sets of items was used for exchange in Nigeria before money was introduced? Options:
  A) cowries, iron rods, brass rods and copper rods
  B) iron rods, copper rods, manilla and cowries
  C) cowries, manilla, brass rod andcopper wires
  D) copper wires, brass wires, cowries and iron rod
  Show Answer
  The correct answer is C .
• Question 46: An aspect of commerce that facilitates the distribution of products is? Options:
  A) transportation
  B) advertising
  C) branding
  D) trading
  Show Answer
  The correct answer is A .
• Question 47: In the event of the liquidation of a company, the first to be settled are? Options:
  A) debenture holders
  B) members of the board
  C) preference shareholders
  D) ordinary shareholders
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  The correct answer is A .
• Question 48: A person who is cheated in business transaction can seek legal remedy Options:
  A) even if the agreement is verbal and the amount involved is large
  B) only if the business is a sole proprietorship whose owner is known
  C) regardless of the form of business organization
  D) only if the transaction is documented in a contract
  Show Answer
  The correct answer is D .
• Question 49: A memorandum of association is applicable to a Options:
  A) partnership
  B) sole trader
  C) joint stock company
  D) public corporation
  Show Answer
  The correct answer is C .
• Question 50: A function organization structure is where? Options:
  A) staff performing the same functions are grouped together
  B) department performing similar functions grouped together
  C) activities of similar nature are grouped together
  D) staff performing similar functions are grouped together
  Show Answer
  The correct answer is D .