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 801: Occupations are classified into? Options:
  A) production, labour and economics
  B) extraction, construction and manufacturing
  C) industry, commerce and serves
  D) trade, aids to trade and serivices
  Show Answer
  The correct answer is C .
• Question 802: Citizens are against privatization mainly because of? Options:
  A) the rationalization of organizations
  B) increased prices of goods and services
  C) the likelihood of monopoly
  D) ineffective management
  Show Answer
  The correct answer is B .
• Question 803:

  One of the obstacles to achieving the objectives of ECOWAS is?

  Options:
  A) lack of a common currency
  B) colonial linkages
  C) sovereignty of state
  D) language difference
  Show Answer
  The correct answer is D .
• Question 804: In an organization, civic consideration arises from? Options:
  A) the profit derived from the enviroment
  B) its operations witthin the environment
  C) irs social negative impacts on the community
  D) the fact that it is registered in that locality
  Show Answer
  The correct answer is B .
• Question 805: A contract for the sale of goods involved the? Options:
  A) producer, seller and the buyer of goods
  B) offering of goods to customers
  C) transfering of the title to goods for money
  D) exchange of goods
  Show Answer
  The correct answer is C .
• Question 806:

  The law by which a seller transfers the property in goods to a buyer at an agreed price is the

  Options:
  A) Weights and Measure Act
  B) Trade Description Act
  C) Sale of Goods Act
  D) Foods and Drugs Act
  Show Answer
  The correct answer is C .
• Question 807:

  One of the functions of a trade association is to

  Options:
  A) pay members salaries
  B) promote members' welfare
  C) provide loans to members
  D) provide employment for members
  Show Answer
  The correct answer is B .
• Question 808: A common requirement for public and private limited companies in Nigeria is that Options:
  A) a shareholder cannot transfer his shares to someone else without permission from other shareholders
  B) their annual account are made available to the Corporate Affairs Commision
  C) shares can be offered for sale on the stock exchange
  D) shares can be offered for sale through an issuing house
  Show Answer
  The correct answer is B .
• Question 809:

  The business organisation in which shareholders have equal votes is?

  Options:
  A) sole proprietorship
  B) partnership
  C) cooperative
  D) limited liability company
  Show Answer
  The correct answer is C .
• Question 810: Authorized share capital is also known as? Options:
  A) called-up share capital
  B) paid-up share
  C) registered share capital
  D) issued share capital
  Show Answer
  The correct answer is C .