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 1091: A doctor who attends to patients at home after his official duty is? Options:
  A) a community develoment worker
  B) a direct service worker
  C) an indirect sevice worker
  D) a direct and an indirect sevice worker
  Show Answer
  The correct answer is B .
• Question 1092: A partnership is dissolved when? Options:
  A) the business suffers a loss
  B) there is bankruptcy
  C) there is consistent theft
  D) there is misunderstanding between partners
  Show Answer
  The correct answer is B .
• Question 1093:

  $\begin{array}{cccc}\text{Name}& \text{Insure amount}& \text{Actual value}& \text{Actual loss}\\ \text{Mr A}& 30,000& 100,000& 40,000\\ \text{Mr B}& 40,000& 120,000& 50,000\\ \text{Mr C}& 50,000& 15,000& 70,000\end{array}$

  If Mr A takes a fire insurance policy with average clause, his compensation will be

  Options:
  A) N15,000
  B) N20,000
  C) N12,000
  D) N25, 000
  Show Answer
  The correct answer is C .
• Question 1094: Personnel activities that promote the general image of an organization are part of Options:
  A) advertising
  B) sales promotion
  C) public relations
  D) business correspondence
  Show Answer
  The correct answer is C .
• Question 1095: Emeka ordered goods for his retail shop. The manufacturer sells the goods at retail price of N 500 but would give it to Emeka at N 400. What kind of discount did he get? Options:
  A) Cash discount
  B) Trade discount
  C) Quantity discount
  D) Seasonal discount.
  Show Answer
  The correct answer is A .
• Question 1096:

  What are the factors with which commercial undertaking can be distinguish?

  I Size of the undertaking

  II Profits generated

  III Forms of ownership

  IV Location of the undertaking

  Options:
  A) I and II only
  B) I andIII only
  C) II and III only
  D) III and IV only
  Show Answer
  The correct answer is B .
• Question 1097: In international trade, exchanging goods for other goods and services purchased instead of paying in foreign currency is known as? Options:
  A) counter trade
  B) balance of trade
  C) balance of payments
  D) terms of trade
  Show Answer
  The correct answer is A .
• Question 1098:

  The best mode of ensuring that items posted get to the named addresses is through

  Options:
  A) recorded delivery
  B) certificate of posting
  C) registered mail
  D) express mail
  Show Answer
  The correct answer is C .
• Question 1099: Funds used for paying wages, salaries and payments for raw materials are categorized under Options:
  A) liquid capital
  B) circulating capital
  C) fixed capital
  D) nominal capital
  Show Answer
  The correct answer is B .
• Question 1100: A demerit of communication is that it ________ Options:
  A) makes payment for goods cumbersome
  B) increase the cost of goods in transit
  C) give room for distortion of fact
  D) hinder quick reception of messages over a long distance
  Show Answer
  The correct answer is C .