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 1251:

  

  Use the table above to answer this question.

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

  Options:
  A) N 5000
  B) N 7, 500
  C) N 70, 000
  D) N 75, 000
  Show Answer
  The correct answer is B .
• Question 1252:

  Use the information below to answer question 40 and 41.

  Musa rented a room to adamu for N1,500 and N1,000 part-payment was made. Adamu brought Audu and Jacob his friends to stay in the room.

  The two friends later paid balance of N500 to Musa.

  Who are the parties to the contract of renting the room?

  Options:
  A) Musa and Jacob
  B) Musa and Audu
  C) Adamu and Musa
  D) Audu and Jacob
  Show Answer
  The correct answer is C .
• Question 1253: The bank that discount bills of exchange is the? Options:
  A) central bank
  B) mortage bank
  C) development bank
  D) comercial bank
  Show Answer
  The correct answer is D .
• Question 1254:

  One of the merits of television as a medium of advertising is that it

  Options:
  A) is prone to censorship
  B) is relatively cheap
  C) has more network coverage
  D) has more sensory stimulation
  Show Answer
  The correct answer is D .
• Question 1255: One of the functions of the wholesaler is to? Options:
  A) forecast prices
  B) reduce prices of goods
  C) promote sales
  D) analyse sales periodically
  Show Answer
  The correct answer is C .
• Question 1256: Quantity discount is offerred mainly to persuade the buyer to Options:
  A) defer payment
  B) make prompt purchases
  C) make advance payment
  D) purchase more
  Show Answer
  The correct answer is B .
• Question 1257:

  Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

  	₦		₦
  Opening stock Purchase	1000 7000	Sales	8000
  Closing Stock	3000

  Trading Expenses

  Electricity Salaries Rent Depreciations

  ₦ 135 875 180 210

  From the figures given, calculate

  Percentage of net profit to turnover

  Options:
  A) 30%
  B) 5%
  C) 10%
  D) 20%
  Show Answer
  The correct answer is D .
• Question 1258:

  Which of the following is a verbal means of communication

  Options:
  A) Telephone
  B) Express mail
  C) Business reply services
  D) Telex
  Show Answer
  The correct answer is A .
• Question 1259: The term Plc implies that the are available Options:
  A) to the public at the company
  B) privately on the stock exchange
  C) publicly on the stock exchange
  D) publicly in commericial banks
  Show Answer
  The correct answer is C .
• Question 1260: The development of a continer and a graphic design for a product is called? Options:
  A) packaging
  B) promotion
  C) processing
  D) production
  Show Answer
  The correct answer is A .