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 1161: When a vendor supplies newspapers from house to house and across the streets, the element of marketing mix involved is Options:
  A) product
  B) price
  C) promotion
  D) place
  Show Answer
  The correct answer is D .
• Question 1162: The machine used for sending telex messages is known as a? Options:
  A) radar
  B) fax machine
  C) dictaphone
  D) teleprinter
  Show Answer
  The correct answer is B .
• Question 1163:

  Given:

  $\begin{array}{cc}\text{Opening stock}& 50,000\\ \text{Purchases}& 200,000\\ \text{Sales}& 350,000\\ \text{Closing stock}& 80,000\end{array}$

  What is the cost of good sold?

  Options:
  A) ₦200,000
  B) ₦190,000
  C) ₦170,000
  D) ₦175,000
  Show Answer
  The correct answer is C .
• Question 1164: A company has an authorized capital of 40 million shares at N1 per share, out of which 32 million shares have been issued and fully paid-up. The remaining 8 million shares have Options:
  A) been issued but have not been paid-up
  B) been applied for but not issued
  C) not been paid-up
  D) not yet been issued
  Show Answer
  The correct answer is D .
• Question 1165: In the case of a voluntary liquidation of a business the receivers is appointed by the by the Options:
  A) creditors
  B) debtors
  C) directors
  D) shareholders
  Show Answer
  The correct answer is A .
• Question 1166: The rate at which a central bank discount first class bills is called the Options:
  A) fixed rate
  B) bill rate
  C) bank rate
  D) interest rate
  Show Answer
  The correct answer is C .
• Question 1167: A country is said to be experiencing an unfavorable balance of trade if her Options:
  A) exports exceed imports
  B) visible exports exceed visible imports
  C) imports and exports are equal
  D) visible imports exceed visible exports
  Show Answer
  The correct answer is D .
• Question 1168: An example of a cartel is? Options:
  A) OPEC
  B) ECOWAS
  C) AU
  D) EU
  Show Answer
  The correct answer is A .
• Question 1169: The mode of transporting crude oil to the ports for export purposes is by Options:
  A) tanker
  B) rail
  C) road
  D) pipeline
  Show Answer
  The correct answer is D .
• Question 1170: The agency in Nigeria which ensures that products conform to government quality specifications is the? Options:
  A) Standards Organization of Nigeria
  B) Nigerian Consumers’ Association
  C) Manufacturers’ Association of Nigeria
  D) Nigerian Chamber of commerce
  Show Answer
  The correct answer is A .