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 531: A step-by-step method of carrying out functions in an office is known as? Options:
  A) procedure
  B) organizing
  C) policy
  D) programme
  Show Answer
  The correct answer is A .
• Question 532: A document which serves as an order with details of goods required by an intending purchaser is Options:
  A) a freight note
  B) an indent
  C) a bill of landing
  D) a way bill
  Show Answer
  The correct answer is B .
• Question 533: In Nigeria, the ministry in charge of registering trade associations is that of? Options:
  A) industries
  B) commerce
  C) culture and tourism
  D) finance
  Show Answer
  The correct answer is B .
• Question 534:

  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 535: One of the advantages of commercialization is that it? Options:
  A) encourages entrepreneuership
  B) increases the salaries of workers
  C) motivates governement to establish more business
  D) gives wortkers on-the-job training
  Show Answer
  The correct answer is A .
• Question 536:

  Which of the following documents would a shareholder inspect to know his voting rights?

  Options:
  A) Articles of Association
  B) Certificate of Incorporation
  C) Certificate of Trading
  D) Memorandum of Association
  Show Answer
  The correct answer is A .
• Question 537: The implied provisions in every sale of goods as contained in the Sales of Goods Act of 1893 are conditions and? Options:
  A) consideration
  B) sureties
  C) warranties
  D) guaranties
  Show Answer
  The correct answer is C .
• Question 538: DFischarging certian duties by an organization to the public to gain high patronage is a concern of financial resposibility Options:
  A) financial responsibility
  B) economic responsibility
  C) legal responsibility
  D) social responsibility
  Show Answer
  The correct answer is D .
• Question 539:

  Parts payments made on alloted shares by subscribers is usually the

  Options:
  A) authorized capital
  B) subscribed capital
  C) called -up capital
  D) issued capital
  Show Answer
  The correct answer is C .
• Question 540: Which of the following is a type of system software Options:
  A) utility programmes
  B) registers
  C) hard drives
  D) packages
  Show Answer
  The correct answer is A .