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 1: The forum for the selling and buying of securities of small and medium companies is called. Options:
  A) Securities and Exchange Commission
  B) Second tier Security Market
  C) Foreign exchange Market
  D) Second tier foreign Exchange market
  Show Answer
  The correct answer is B .
• Question 2: A computer that can be used in weather forecast is? Options:
  A) a hybrid computer
  B) an analog computer
  C) a marineframe computer
  D) a digital computer
  Show Answer
  The correct answer is D .
• Question 3: What is the major function of the wholesaler? Options:
  A) buying from small-scale producers and selling to exporters
  B) buying in bulk and selling in small quantities
  C) granting of credit facilities to retailers
  D) providing information to manufacturers on market situation
  Show Answer
  The correct answer is B .
• Question 4:

  The agency in Nigeria which ensures that products conform with government quality specifications is the?

  Options:
  A) standard organisation of Nigeria
  B) Nigeria consumer association
  C) manufacturers association of Nigeria
  D) Nigeria chambers of commerce
  Show Answer
  The correct answer is A .
• Question 5: A business organization is said to be socially responsible when it? Options:
  A) gets involved in issues relating to the society
  B) rewards its staff for long-term service
  C) offers discounts to customers
  D) invites the public to its annual general meetings
  Show Answer
  The correct answer is A .
• Question 6: The most suitable organizational structure for small or medium sized enterprises is Options:
  A) line structure
  B) staff structure
  C) committee structure
  D) functional structure
  Show Answer
  The correct answer is A .
• Question 7: The right of ownership with respect to goods or property is? Options:
  A) right of occupancy
  B) proxy
  C) tittle
  D) certificate of occupancy
  Show Answer
  The correct answer is D .
• Question 8: The function of a merchant wholesaler is to Options:
  A) buy in bulk, store and sell to retailerss as desired
  B) posses title to the goods, store and sale to retailers
  C) bring buyers and sellers together
  D) find markets for producers' finished goods
  Show Answer
  The correct answer is A .
• Question 9:

  Given:
  Opening stock: ₦40 000
  Purchases: ₦115 000
  Closing stock: ₦60 000
  Sales: ₦250 000

  What is the cost of goods sold?

  Options:
  A) ₦155 000
  B) ₦95 000
  C) ₦50 000
  D) ₦30 000
  Show Answer
  The correct answer is B .
• Question 10:

  A group of companies is a collection of? 

  Options:
  A) subsidiaries and their holding company
  B) firms
  C) associates and their holding company
  D) industries
  Show Answer
  The correct answer is A .