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 1331: A form of ownership which exploits the strength of one partner to remedy the weakness of the other is a? Options:
  A) joint partnership
  B) cooperative
  C) corperation
  D) joint venture
  Show Answer
  The correct answer is A .
• Question 1332:

  Goods bought into the country for sale are the country's

  Options:
  A) invisible imports
  B) invisible exports
  C) visible imports
  D) visible exports
  Show Answer
  The correct answer is C .
• Question 1333: A risk that can be estimated and calculated to be compensation is? Options:
  A) a delivery risk
  B) an insurable risk
  C) a credit risk
  D) a systematic risk
  Show Answer
  The correct answer is B .
• Question 1334: The physical component of a computer system is Options:
  A) software
  B) hardware
  C) hard disk
  D) floppy disk
  Show Answer
  The correct answer is B .
• Question 1335:

  The progragramme that makes up the operating system in a computer system is called? 

  Options:
  A) system software
  B) micro program
  C) syntax
  D) system flow-chart
  Show Answer
  The correct answer is A .
• Question 1336: The best means of sending unwritten messages simultaneously to many branches of an organization within a country is the? Options:
  A) television
  B) telephone
  C) telegraph
  D) radio
  Show Answer
  The correct answer is C .
• Question 1337: Mr Olatude took up a fire insurance on a property valued at N1000 and the amount insured is N 800. If the insurance was taking with the clause ‘with average ‘, What is the amount to be paid by the insurance company? Options:
  A) N320
  B) N420
  C) N460
  D) N560
  Show Answer
  The correct answer is A .
• Question 1338:

  The elements in marketing mix that ensures goods are available when and where needed is

  Options:
  A) Promotion
  B) price
  C) product
  D) place
  Show Answer
  The correct answer is D .
• Question 1339:

  The document with which a manufacturing enterprises releases stock of raw materials to the factory for product is called?

  Options:
  A) stock releases form
  B) goods received note
  C) stock issues voucher
  D) materials release note
  Show Answer
  The correct answer is C .
• Question 1340:

  

  A company earned a total revenue of ₦108 million with a total cost of ₦91 million in 1991. If it paid 45% tax on its gross profit for that year, determine its net profit.

  Options:
  A) ₦24.65 million
  B) ₦17.00 million
  C) ₦9. 35 million
  D) ₦7.65 million
  Show Answer
  The correct answer is C .