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 631: The promotion of team spirit in an organization is referred to as Options:
  A) unity of direction
  B) espirit de corps
  C) unity of purpose
  D) discipline
  Show Answer
  The correct answer is B .
• Question 632: Gilt-edged securities are issued mainly by Options:
  A) individuals
  B) non-governmental organisations
  C) Government
  D) multi-national companies
  Show Answer
  The correct answer is C .
• Question 633:

  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 Fixed assets

  Options:
  A) 6500
  B) 2000
  C) 4900
  D) 600
  Show Answer
  The correct answer is C .
• Question 634: The payment for direct service is usually made by the Options:
  A) local authority
  B) community
  C) government
  D) individual
  Show Answer
  The correct answer is D .
• Question 635: A royal charter was granted to the Royal Niger Company to do business in Nigeria in Options:
  A) December 1888
  B) May 1887
  C) July 1886
  D) August 1885
  Show Answer
  The correct answer is C .
• Question 636:

  Use the information below to answer this question

  A B C Balance Sheet as at 31/12/2004

  ₦ Share capital 200,000 Reserves 100,000 Long term liabilities 40,000 Current liabilities 30,000 370,000

  ₦ Fixed assets 180,000 Investment 100,000 Current assets 50,000 Fictitious assets 40,000370,000

  The total sum of financing short term projects is

  Options:
  A) ₦ 30,000
  B) ₦200,000
  C) ₦70,000
  D) ₦40,000
  Show Answer
  The correct answer is B .
• Question 637: One of the products of an extractive industry is Options:
  A) an airplane
  B) an iron ore
  C) a shoe
  D) a textile material
  Show Answer
  The correct answer is B .
• Question 638: A business firm that is involved in conveying goods or people is known as a? Options:
  A) consignor
  B) commercial firm
  C) carrier
  D) transporter
  Show Answer
  The correct answer is C .
• Question 639: Which of the following is an item in the marketing mix? Options:
  A) Demand
  B) promotion
  C) market
  D) consumer
  Show Answer
  The correct answer is B .
• Question 640: Money is generally accepted for transactions due to Options:
  A) the legal backing
  B) the rule of law
  C) its acceptability in the global market
  D) the Central Bank Governor's signature
  Show Answer
  The correct answer is A .