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 1361:

  Which of the following is not a right of a consumer?

  Options:
  A) Right to a fair hearing
  B) Right to buy on credit
  C) Right to obtain replacement
  D) Right to safe product
  Show Answer
  The correct answer is B .
• Question 1362:

  All activities that contribute towards making goods and services available to the people are

  Options:
  A) Economic activities
  B) Political activities
  C) Productive activities
  D) Business activities
  Show Answer
  The correct answer is C .
• Question 1363:

  $\begin{array}{cc}N& N\\ \text{Capital 8000}& \text{Plant and machinery 5000}\\ \text{Net profit 4000}& \text{Motor van 4500}\\ \text{Drawings 200}& \text{Stock 2000}\\ \text{Creditors 2000}& \text{Debtor 1000}\\ \text{Accruals 300}& \text{Bank 100}\\ & \text{Cash 600}\\ 14100& 14100\end{array}$

  What is the acid ratio?

  Options:
  A) 1.13 : 1
  B) 2 : 1
  C) 4.75 : 1
  D) 4.25 : 1
  Show Answer
  The correct answer is A .
• Question 1364:

  

  Use the information Above to answer this question.

  What is the current ratio?

  Options:
  A) 4:1
  B) 4.5:1
  C) 5:1
  D) 25.5:1
  Show Answer
  The correct answer is C .
• Question 1365: Land as a factor of production does not vary in? Options:
  A) quantity
  B) nature
  C) quality
  D) cost
  Show Answer
  The correct answer is A .
• Question 1366: Musa obtains wool from his sheep, spins and transforms it into cloth which he sells to consumers. This is a form of Options:
  A) vertical integration
  B) horizontal integration
  C) forward intergration
  D) backward integration
  Show Answer
  The correct answer is A .
• Question 1367: A collective term for advertising, personal selling and publicity is? Options:
  A) exhibition
  B) promotion
  C) trade fair
  D) merchandizing
  Show Answer
  The correct answer is A .
• Question 1368: Which of the following industries is normally located near the source of its raw materials? Options:
  A) Footware industry
  B) Cement industry
  C) Textile industry
  D) Automobile assembly
  Show Answer
  The correct answer is B .
• Question 1369:

  Use the conversion below to answer question 7 and 8

  MUSA: Taiwo why are you in business?

  TAIWO: To optimized profit, provide quality

  Product and discharge my social

  Responsibilities. What of you, Okon

  And Kalu

  OKON: I am in business to cater for the

  Need of the consumers at all costs.

  KALU: I am in business to make profit,

  Provided quality product

  At reasonable prices

  And establish a good

  Reputation for myself.

  Options:
  A) Musa
  B) Okon
  C) Taiwo
  D) Kalu
  Show Answer
  The correct answer is D .
• Question 1370:

  The last link in a channel of distribution is the

  Options:
  A) wholesaler
  B) retailer
  C) consumer
  D) agent
  Show Answer
  The correct answer is C .