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 61:

  The creation of goods and services to satisfy human wants is referred to as

  Options:
  A) manufacturing
  B) commercialization
  C) production
  D) entrepreneurship
  Show Answer
  The correct answer is C .
• Question 62: The government policy thrust on the business environment is to? Options:
  A) promote experts
  B) attract investors
  C) be self-sufficient
  D) increase production
  Show Answer
  The correct answer is B .
• Question 63: Water corporation is an example of ______? Options:
  A) co-operative society
  B) public enterprise
  C) private enterprise
  D) limited company
  Show Answer
  The correct answer is B .
• Question 64: The form of capital which is easily transferred into the form desired is known as? Options:
  A) working capital
  B) liquid capital
  C) circulating capital
  D) capital employed
  Show Answer
  The correct answer is C .
• Question 65:

  An undertaking to repair a customer's vehicle for a certain period after it has been sold is

  Options:
  A) after-sales service
  B) marketing mix
  C) market segmentation
  D) sales promotion
  Show Answer
  The correct answer is A .
• Question 66: The significance of money to modern economic system is that it? Options:
  A) is used as a means of payment
  B) promotes specialization and exchange
  C) measures value and promotes exchange
  D) causes inflation in the economy
  Show Answer
  The correct answer is C .
• Question 67: Tolu purchase goods from Yemisi and is to pay custom duties before collection. The goods are likely to be collected from. Options:
  A) a manufacturer's warehouse
  B) a bonded warehouse
  C) an importer's warehouse
  D) a wholesaler's warehouse
  Show Answer
  The correct answer is B .
• Question 68:

  The excess of the assets over the liabilities of a business is called

  Options:
  A) capital employed
  B) net worth
  C) working capital
  D) initial capital
  Show Answer
  The correct answer is B .
• Question 69:

  Use the information below to answer question 14 and 15.

  Miamani Plc, whose nominal capital is made up of 5000 000 ordinary shares of 50k each, decided to offer 80% of it to the public and realized only 50% of the amount due.

  What is the company's reserve share capital?

  Options:
  A) N2500 000
  B) N4000 000
  C) N5000 000
  D) N2000 000
  Show Answer
  The correct answer is A .
• Question 70:

  

  What is Ojo's working capital?

  Options:
  A) N 2150
  B) N 1950
  C) N1800
  D) N 1150
  Show Answer
  The correct answer is D .