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:

  When it becomes necessary to liquidate a company, the first step to be taken is the appointment of a?

  Options:
  A) a receiver
  B) an auditor
  C) an account
  D) a liquidator
  Show Answer
  The correct answer is D .
• Question 2: The cost of transporting goods to consumers called Options:
  A) carried inward
  B) carried forward
  C) carried paid
  D) carried outward
  Show Answer
  The correct answer is D .
• Question 3: In product pricing, which of these elements need more consideration than others? Options:
  A) The cost of producing the product
  B) The economic conditions in the market
  C) the demography of the buyers of the product
  D) The demand for the product
  Show Answer
  The correct answer is A .
• Question 4: The implied provisions in every sale of goods as contained in the sale of goods act of 1893 are conditions and Options:
  A) Guaranties
  B) Warranties
  C) Sureties
  D) Consideration
  Show Answer
  The correct answer is B .
• Question 5: Which Commerce Question Paper is given to you? Options:
  A) Type A
  B) Type B
  C) Type C
  D) Type D
  Show Answer
  The correct answer is B .
• Question 6: Goods are of merchantable quality if they? Options:
  A) conform to description
  B) are of equal weight
  C) are of the same quality
  D) conform to buyers' purpose
  Show Answer
  The correct answer is A .
• Question 7:

  The difference between Articles of association and memorandum of Association is that the latter deals

  Options:
  A) with the Internal working relationship of the company and its members
  B) with the powers and relationships of the company with outsiders
  C) The method of issue, transfer and future of the company's shares
  D) The rights and responsibilities of shareholders
  Show Answer
  The correct answer is B .
• Question 8: How much was the trade discount? Options:
  A) N42.500
  B) N27,500
  C) N22,500
  D) N20,000
  Show Answer
  The correct answer is A .
• Question 9: The right of the public to protection against questionable products and marketing practices is Options:
  A) an economic aspect of the business
  B) a social responsibility of business
  C) a legal aspect of the business
  D) a political aspect of the business
  Show Answer
  The correct answer is C .
• Question 10: The type of advertising that seeks to persuade consumers to buy a particular product is Options:
  A) Informative advertising
  B) Competitive advertising
  C) Persuasive advertising
  D) mass and specific advertising
  Show Answer
  The correct answer is C .