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 951: When it became necessary to liquidate a company, the frist step to be taken is the appointment of Options:
  A) a receiver
  B) an auditor
  C) an accountant
  D) liquidator
  Show Answer
  The correct answer is D .
• Question 952: Money can simply be referred to as a? Options:
  A) medium of exchange
  B) means for the settlement of debts
  C) durable assets for doing business
  D) standard of value
  Show Answer
  The correct answer is A .
• Question 953: 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 954: Rights issue means the Options:
  A) issue of shares to the directors of a company on favourable terms
  B) Issue of shares by a company only to the founders of the company
  C) right of shareholders to vote on any issue
  D) issue of shares to shareholders on favourable terms
  Show Answer
  The correct answer is D .
• Question 955: In Nigeria, the body ensures that its members operate according to their professional ethics is the? Options:
  A) SON
  B) NPF
  C) MAN
  D) NAFDAC
  Show Answer
  The correct answer is A .
• Question 956: The merger of two companies producing the same type of products is an example of Options:
  A) vertical integration
  B) horizontal integration
  C) lateral merger
  D) an acquisition
  Show Answer
  The correct answer is B .
• Question 957: An invoice can be described as a Options:
  A) contractual agreement for the sale of goods
  B) document specifying quantity, description, prices and total value of purchase
  C) receipt containing necessary information about the goods
  D) letter specifying the contractual sales of goods between two parties
  Show Answer
  The correct answer is B .
• Question 958: The assets, liabilities and general management of a distressed bank may be taken over by? Options:
  A) International Bank for Reconstruction and development
  B) Nigeria Industrial Development Bank
  C) Nigeria Banks Deposit Insurance corporation
  D) Nigeria Bank for Commerce and Industry
  Show Answer
  The correct answer is C .
• Question 959:

  The document issued by a public company allowing it to commence business is the

  Options:
  A) Articles of Association
  B) Certificate of Incorporation
  C) Memorandum of Association
  D) Certificate of Trading
  Show Answer
  The correct answer is D .
• Question 960: The type of activity which turns processed raw materials into consumer and industrial goods is described as ________ Options:
  A) extractive
  B) manufacturing
  C) constructive
  D) processing
  Show Answer
  The correct answer is B .