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: Avast is an example of Options:
  A) a web browser
  B) a search engine
  C) an antivirus
  D) a spread sheet
  Show Answer
  The correct answer is C .
• Question 1252: Determine the company's reserve share capital? Options:
  A) N2500 000
  B) N1000 000
  C) N1500 000
  D) N2000 000
  Show Answer
  The correct answer is B .
• Question 1253:

  What is a Quota?

  Options:
  A) Tax pad on goods produced within a country
  B) A physical restriction placed on quantity of goods that can be imported
  C) Tax paid on goods produced outside a country
  D) Ban on all imported goods
  Show Answer
  The correct answer is B .
• Question 1254: The activities aimed at finding out customers' needs and satisfaction can be described as? Options:
  A) social-marketing
  B) macro-marketing
  C) micro-marketing
  D) conceptual marketing
  Show Answer
  The correct answer is D .
• Question 1255: A contract that is acknowledged before the law court is referred to as Options:
  A) informal contract
  B) formal contract
  C) contract of records
  D) specialty contract
  Show Answer
  The correct answer is C .
• Question 1256: Which of the following is a characteristic of a bearer cheque Options:
  A) it is made with transverse lines
  B) it is made payable to whoever presents it
  C) it is made without transverse lines
  D) it is only payable into the payees account
  Show Answer
  The correct answer is B .
• Question 1257: If a business uses part of its profit to develop the area where it operates, the business is fulfilling its ______ Options:
  A) economic responsibilities
  B) marketing responsibilities
  C) social responsibilities
  D) managerial responsibilities
  Show Answer
  The correct answer is C .
• Question 1258:

  Bank overdraft as a short term source of fund is

  Options:
  A) A current liability
  B) An overdrawn account
  C) Grade to a newly opened account
  D) Repayable after more than a year
  Show Answer
  The correct answer is A .
• Question 1259: The concept that refers to the sale, transfer or exchange of goods and services is Options:
  A) industry
  B) trade
  C) tariff
  D) marketing
  Show Answer
  The correct answer is B .
• Question 1260: A carton of noodles valued at #2,000 was invoiced at #200 only.The accounting procedure to correct this error is to issue Options:
  A) an invoice for #200
  B) a debit note for #2,00
  C) a credit note for #1,800
  D) a debit note for #1,800
  Show Answer
  The correct answer is D .