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 1021: Selling goods in foreign countries at price below their marginal cost is? Options:
  A) dumping
  B) depreciation
  C) devaluation
  D) discounting
  Show Answer
  The correct answer is A .
• Question 1022:

  Use the information below to answer question 7 and 8.

  Ojo purchased the following items from Sani at the specified prices on credit:

  200 cartons of milk at N1,000 per carton; 50 bags of rice at N3 000 per bag.

  Sani allowed 10% trade discount and 5% cash discount, if payment is made within the agreed period. Ojo paid within the agrred period.

  What was the the amount paid by Ojo?

  Options:
  A) N382,500
  B) N425,000
  C) N363,375
  D) N61,625
  Show Answer
  The correct answer is C .
• Question 1023: The two main categories under which marine losses fall into are? Options:
  A) particular loss and average loss
  B) actual loss and average loss
  C) total loss and partial loss
  D) voyage policy loss and time policy loss
  Show Answer
  The correct answer is C .
• Question 1024: The characteristics which ensures that money is free from forgery is its? Options:
  A) legality
  B) durability
  C) recongnition
  D) credibility
  Show Answer
  The correct answer is A .
• Question 1025: A businessman who undertakes the hull insurance policy is aiming at? Options:
  A) conerting losses on damages to the cargo
  B) protcting injured crew in the ship
  C) averting payment of the freight
  D) covering damages to the body of the ship
  Show Answer
  The correct answer is A .
• Question 1026: In the permanent storage device, DASD means? Options:
  A) Data Access Storage Device
  B) Data Access Systems Device
  C) Direct Access Systems Device
  D) Direct Access Storage Device
  Show Answer
  The correct answer is A .
• Question 1027: The essential utility derived from the use of a product is known as Options:
  A) augmented benefit
  B) branded benefit
  C) core benefit
  D) formal benefit
  Show Answer
  The correct answer is C .
• Question 1028: Production ends when goods and services ________ Options:
  A) reach the final consumer
  B) are used for manufacturing
  C) are packaged and labelled
  D) are sold to the middlemen
  Show Answer
  The correct answer is A .
• Question 1029: 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 1030: Which of the is a risk-free security? Options:
  A) Preference share
  B) Ordinary share
  C) Treasury bill
  D) Debenture
  Show Answer
  The correct answer is C .