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 981:

  The direct authority of a superior over his subordinate is known as?

  Options:
  A) staff authority
  B) line authority
  C) line and staff authority
  D) lateral authority
  Show Answer
  The correct answer is B .
• Question 982: The physical component of a computer system is Options:
  A) software
  B) hardware
  C) hard disk
  D) floppy disk
  Show Answer
  The correct answer is B .
• Question 983: A major function of a entrepreneur is? Options:
  A) decision-making
  B) encouraging competition
  C) human-resource traning
  D) motivating employees
  Show Answer
  The correct answer is A .
• Question 984:

  Examples of current assets are

  Options:
  A) cash and trade debtors
  B) cash and trade creditors
  C) trade debtors, trade creditors and cash
  D) trade creditors and trade debtors
  Show Answer
  The correct answer is A .
• Question 985: Sabo and Gambo entered into a contract for the sale of two baskets of tomatoes belonging to Gambo. Before the date the date of delivery and without any default by Gambo, the tomatoes were stolen. This is an example of termination of contract by Options:
  A) breach
  B) performance
  C) fault
  D) frustration
  Show Answer
  The correct answer is D .
• Question 986: Th overriding objective of the food and drug act in Nigeria is too prevent the Options:
  A) importation of food and drug that can be locally manufactured
  B) consumption of food and drug not tested by the minitries of health
  C) adulteration of food and drug sold in the country
  D) manufactures of food and drug from charging excessive prices
  Show Answer
  The correct answer is D .
• Question 987:

  Parts payments made on alloted shares by subscribers is usually the

  Options:
  A) authorized capital
  B) subscribed capital
  C) called -up capital
  D) issued capital
  Show Answer
  The correct answer is C .
• Question 988: Marketing differs from selling in that,the latter only creates Options:
  A) possession utility
  B) marginal utility
  C) form utility
  D) place utility
  Show Answer
  The correct answer is A .
• Question 989: Given

  	N
  sales	15,000
  opening stock	5,600
  purchase	9,700
  closing stock	4,400
  gross profit	4,500
  net profit	2,000

  What is the rate of turnover from the table?

  Options:
  A) 3.50 times
  B) 3.00 times
  C) 2.00 times
  D) 2.18
  Show Answer
  The correct answer is D .
• Question 990: The main difference between nationalization and indigenization is in terms of Options:
  A) shareholding
  B) profit
  C) technology
  D) efficiency
  Show Answer
  The correct answer is C .