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 551: A function generally performed by authorities of both the air and seaport is the? Options:
  A) maintance of warehouse where goods can be stored
  B) provision of facilities for loading and unloading of cargoes
  C) maintenance of security and order at the ports
  D) provision of facilities for landing and refuelling at the ports
  Show Answer
  The correct answer is D .
• Question 552: A company which issues a promissory note in lieu of payment for goods purchased Options:
  A) can refuse to pay ondue date since it is only a promise
  B) is bound to redeem the note for cash on due date
  C) is not bound to renew the note before payment
  D) can return the goods purchase and refuse to pay
  Show Answer
  The correct answer is B .
• Question 553: The warehouse that is owned and controlled by the government is a Options:
  A) wholesalers' warehouse
  B) public warehouse
  C) state warehouse
  D) manufaturers' warehouse
  Show Answer
  The correct answer is C .
• Question 554: The forum for the selling and buying of securities of small and medium companies is called. Options:
  A) Securities and Exchange Commission
  B) Second tier Security Market
  C) Foreign exchange Market
  D) Second tier foreign Exchange market
  Show Answer
  The correct answer is B .
• Question 555: A provision in the charter of a company which gives holders of common stock the first option to purchase additional issues of the firm's common stock is known the? Options:
  A) pre-emptive right
  B) shareholders right
  C) ex-dividend right
  D) over-subscription right
  Show Answer
  The correct answer is B .
• Question 556: The most important attributes in a sale of goods contract are? Options:
  A) offer and consideration
  B) price and goods
  C) offer and acceptance
  D) demand and supply
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  The correct answer is C .
• Question 557: A firm that disposes its wastes properly is discharging its? Options:
  A) community responsibility
  B) evironmental responsibility
  C) civic responsibility
  D) social responsibility
  Show Answer
  The correct answer is B .
• Question 558:

  The principle of management that emphasizes on the number of subordinates under the direct supervision of a manager is

  Options:
  A) unity of command
  B) scalar chain
  C) unity of direction
  D) span of control
  Show Answer
  The correct answer is D .
• Question 559: A document which advertise the shares of a company is known as a? Options:
  A) memorandum of satisfaction
  B) dividend warrant
  C) deed
  D) prospectus
  Show Answer
  The correct answer is D .
• Question 560: Which of the following is a characteristic of a bearer cheque Options:
  A) it is made with transverse lines
  B) it is made payable to whoever presents it
  C) it is made without transverse lines
  D) it is only payable into the payees account
  Show Answer
  The correct answer is B .