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 861: The business organization established mainly for the purpose of carrying out specific assignments for a specific duration is a? Options:
  A) joint venture
  B) cooperative society
  C) partnership
  D) company
  Show Answer
  The correct answer is A .
• Question 862: Inbound tourism occurs when? Options:
  A) non-residents of a country travel to other countries
  B) resident of a country travel to another country
  C) non-resident of a country tyravel within it
  D) resident of a country travel within it
  Show Answer
  The correct answer is D .
• Question 863: A group of computers that exchange data is referred to as Options:
  A) an information bank
  B) a network
  C) a database
  D) an intranet site
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  The correct answer is B .
• Question 864: A document which serves as an order with details of goods required by an intending purchaser is Options:
  A) a freight note
  B) an indent
  C) a bill of landing
  D) a way bill
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  The correct answer is B .
• Question 865:

  The part of issued share capital that the company has asked the subscribers to pay for

  Options:
  A) authorised capital
  B) called-up capital
  C) nominal capital
  D) paid-up capital
  Show Answer
  The correct answer is B .
• Question 866: An essential factor for evaluating the different sources of funds for a business is the? Options:
  A) decree establishing the business
  B) ownership structure of the business concern
  C) size and the type of the business
  D) burden of cost and repayment
  Show Answer
  The correct answer is B .
• Question 867:

  Chinyere agreed to make a dress for Halima with September 20, 1995 as the delivery date. If the dress was not ready at that date, Halima could

  Options:
  A) Seize another gown from Chinyere’s shop
  B) Regard the contract between them as terminated
  C) Sue Chinyere for specific performance
  D) Sue Chinyere for damages
  Show Answer
  The correct answer is B .
• Question 868: The function of money that facilitates the comparison of the quality of goods as a basis of exchange is the? Options:
  A) unit of account
  B) measure of value
  C) store of value
  D) medium of exchange
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  The correct answer is B .
• Question 869: The main role of advertising is to Options:
  A) convince prospective buyers to buy
  B) show the actual shape, form and colour of the products
  C) inform people where to obtain goods and services
  D) captured the attention of people
  Show Answer
  The correct answer is A .
• Question 870: Part payments made on allotted shares by subscribers is usually the Options:
  A) subscribed capital
  B) authorized capital
  C) issued capital
  D) called-up capital
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  The correct answer is D .