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 51: The type of communication from a superior to a subordinate in an organization is referred as? Options:
  A) horizontal communication
  B) lateral communication
  C) downward communication
  D) upward communication
  Show Answer
  The correct answer is C .
• Question 52:

  

  Use the diagram above to answer this question

  In the communication process, Y represents

  Options:
  A) the encoder
  B) the initiator
  C) noise
  D) the medium
  Show Answer
  The correct answer is D .
• Question 53: In a business organization, the annual operation plan or budget is a form of Options:
  A) casual plan
  B) medium-term plan
  C) long-term plan
  D) short-term plan
  Show Answer
  The correct answer is D .
• Question 54:

  A contract will not be discharge through

  Options:
  A) acceptance
  B) agreement
  C) breach
  D) performance
  Show Answer
  The correct answer is A .
• Question 55: A machine which enable s sales without the physical presence of a sales attendant is a Options:
  A) computer machine
  B) vending machine
  C) telex machine
  D) fax machine
  Show Answer
  The correct answer is B .
• Question 56: Chinyere agree to make a dress for Halima with September 20, 1995 as the delivery date. If the dress was not ready on that date, Halima could Options:
  A) sue Chinyere for damages
  B) sue Chinyere for specific performance
  C) seize another gown from Chinyere's shop
  D) regard the contract between them as terminated
  Show Answer
  The correct answer is B .
• Question 57: Proper disposal of waste by business firms is one way of discharging their? Options:
  A) responsibility to government
  B) environmental responsibility
  C) community responsibility
  D) responsibility to customers
  Show Answer
  The correct answer is B .
• Question 58: The most important reason for the existence of insurance business is to? Options:
  A) prevent the occurrence of any loss
  B) spread losses to all covered participants
  C) provide for the replacement of facilities
  D) encourage individuals to save
  Show Answer
  The correct answer is B .
• Question 59:

  Central banks sell treasury bills to the public to

  Options:
  A) increase cash in the banking system
  B) raise revenue for commerical banks
  C) raise revenue for private investors
  D) reduce cash in circulation
  Show Answer
  The correct answer is D .
• Question 60:

  Use the following information to answer this question.

  The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

  Initial Capital	5000
  Net Profit	1000
  Furniture	2000
  Equipment	2900
  Debtors	100
  Stock	1000
  Bank	500

   

  From the above, calculate Current assets

   

  Options:
  A) 1600
  B) 1060
  C) 1500
  D) 600
  Show Answer
  The correct answer is A .