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: 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 1362: Which of the following is a type of system software Options:
  A) utility programmes
  B) registers
  C) hard drives
  D) packages
  Show Answer
  The correct answer is A .
• Question 1363: When an oil exploring and mining company builds a health centre in one community where at operates, such a company is Options:
  A) Carrying favour from local people
  B) finding a way to spend excess profit
  C) Fulfilling part of its social responsibility
  D) Investing its idle fund
  Show Answer
  The correct answer is C .
• Question 1364: Which of the following organizations represents those who engages labour in Nigeria? Options:
  A) Nigerian Labour Congress
  B) Nigerian Employers Consultative Association
  C) Manufacturers Association of Nigeria
  D) Nigerian Union of Local Government Employees
  Show Answer
  The correct answer is A .
• Question 1365:

  A form of money that has gone out of use is ?

  Options:
  A) commodity money
  B) bank money
  C) paper money
  D) foreign money
  Show Answer
  The correct answer is A .
• Question 1366:

  The process of dividing tasks into jobs and departments and delegating authority is known as

  Options:
  A) directing
  B) leading
  C) organizing
  D) staffing
  Show Answer
  The correct answer is C .
• Question 1367: A transporter who had to sell some perishable goods without the prior authority of the owner becomes an agent by? Options:
  A) conduct
  B) necessity
  C) ratification
  D) estoppel
  Show Answer
  The correct answer is B .
• Question 1368: Nigerian Postal Services (NIPOST) facilitates commerce in all the following ways except through Options:
  A) cash on delivery service
  B) recorded delivery service
  C) express service
  D) free on board service
  Show Answer
  The correct answer is D .
• Question 1369:

  Given:

  Sales...........................N15 000

  Opening stock...................N5 600

  Purchases.......................N9 700

  Closing stock...................N4 400

  Gross profit....................N4 500

  Net profit......................N2 200

  From the data above, calculate the rate of turnover?

  Options:
  A) 3:50 times
  B) 3:00 times
  C) 2:00 times
  D) 2:18 times
  Show Answer
  The correct answer is D .
• Question 1370:

  The process of winding up or bringing a company to an end is________

  Options:
  A) Dissolution
  B) Liquidation
  C) Integrating
  D) Merger
  Show Answer
  The correct answer is B .