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 1281: An internal demand for goods to be purchased or drawn from stock is? Options:
  A) a quoation
  B) a requisition
  C) a tender
  D) an order
  Show Answer
  The correct answer is B .
• Question 1282: To eliminate middlemen, there should be a retail outlet such as Options:
  A) producer co-operative
  B) consumer co-operative
  C) multiple shop
  D) departmental store
  Show Answer
  The correct answer is C .
• Question 1283: Which of the following is the best method for computing working capital Options:
  A) Total assets less current liabilities
  B) Current liabilities less current assets
  C) Fixed liabilities less current assets
  D) Current assets less current liabilities
  Show Answer
  The correct answer is A .
• Question 1284: Money can be simply be referred to as a Options:
  A) measure of value
  B) standard of value
  C) means of settlement
  D) durable asset for doing business
  Show Answer
  The correct answer is A .
• Question 1285: The Customs and Excise Department is responsible for the the collection of? Options:
  A) royalties
  B) tariffs
  C) taxes
  D) charges
  Show Answer
  The correct answer is B .
• Question 1286: Capital to a business is technically? Options:
  A) an expense
  B) availiability of local market
  C) an assets
  D) a porfit
  Show Answer
  The correct answer is C .
• Question 1287: A firm that adapts itself to delivering the desired satisfaction more effectively than its competitors is said to be practicing? Options:
  A) price concept
  B) distribution concept
  C) product concept
  D) markting concept
  Show Answer
  The correct answer is D .
• Question 1288:
  

  What are fixtures and fittings in a balance sheet?

  Options:
  A) liquid capital
  B) current assets
  C) fixed assets
  D) working capital
  Show Answer
  The correct answer is C .
• Question 1289: Which of the following regulates and controls the activities in the Nigerian Stock Exchange? Options:
  A) BPE
  B) SEC
  C) NDIC
  D) CBN
  Show Answer
  The correct answer is B .
• Question 1290:

  One of the obstacles to achieving the objectives of ECOWAS is?

  Options:
  A) lack of a common currency
  B) colonial linkages
  C) sovereignty of state
  D) language difference
  Show Answer
  The correct answer is D .