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 791: One of the obligations of an employer to an employee is to? Options:
  A) indemnify him against liabilities incurred on duty
  B) award scholarship to his children
  C) terminate his appointment without prior notice
  D) indemnity himagainst injuries caused through negligence
  Show Answer
  The correct answer is A .
• Question 792:

  

  The capital employed is

  Options:
  A) ₦1,000
  B) ₦1,370
  C) ₦140
  D) ₦50
  Show Answer
  The correct answer is A .
• Question 793: The factor which critically determines the choice of occupation is? Options:
  A) training
  B) skill
  C) interest
  D) apititude
  Show Answer
  The correct answer is C .
• Question 794:

  A partner who contributes only his name to the formation of a partnership is

  Options:
  A) a nominal partner
  B) a limited partner
  C) a general partner
  D) an active partner
  Show Answer
  The correct answer is A .
• Question 795: Which of the following is the best method for computing working capital Options:
  A) Total assets less current liabilities
  B) Current liabilities less current assets
  C) Fixed liabilities less current assets
  D) Current assets less current liabilities
  Show Answer
  The correct answer is A .
• Question 796: One of the functions of the Nigerian Ports Authority is that it Options:
  A) gives preferential treatment to Nigerian investors
  B) provides credit facilities to importers
  C) encourages the growth of infant industries
  D) provides warehosing facilities at the docks
  Show Answer
  The correct answer is D .
• Question 797:

  The organised effort of consumers to protect themselves against the unfair practices of businessmen is known as

  Options:
  A) picketing
  B) stroke
  C) consumerism
  D) demonstration
  Show Answer
  The correct answer is C .
• Question 798: A major benefit derivable from the privatization and commercialization of public enterprises in Nigeria is? Options:
  A) increase in wages
  B) employment generation
  C) information technology
  D) revenue generation
  Show Answer
  The correct answer is D .
• Question 799: The turnover of firm maybe affected by Options:
  A) the demand for its product
  B) the cost of its goods sold
  C) its closing stock
  D) its net assets
  Show Answer
  The correct answer is A .
• Question 800:

  $\begin{array}{cc}N& N\\ \text{Capital 8000}& \text{Plant and machinery 5000}\\ \text{Net profit 4000}& \text{Motor van 4500}\\ \text{Drawings 200}& \text{Stock 2000}\\ \text{Creditors 2000}& \text{Debtor 1000}\\ \text{Accruals 300}& \text{Bank 100}\\ & \text{Cash 600}\\ 14100& 14100\end{array}$

  What is the acid ratio?

  Options:
  A) 1.13 : 1
  B) 2 : 1
  C) 4.75 : 1
  D) 4.25 : 1
  Show Answer
  The correct answer is A .