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 1371: Which of the following is an example of trade associations? Options:
  A) European Union
  B) National Marketing Board
  C) Organization of African Unity
  D) National Farmers' Council
  Show Answer
  The correct answer is B .
• Question 1372:

  An offer extended to several people at once is called

  Options:
  A) Acceptance
  B) Offeror
  C) Invitation to threat
  D) Consideration
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  The correct answer is C .
• Question 1373: Which of these is both merit and demerit in partnership? Options:
  A) The number of partners
  B) It unlimited nature
  C) The bearing of risk
  D) The withdrawal of a major partner
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  The correct answer is A .
• Question 1374: The significance of money to modern economic system is that it? Options:
  A) is used as a means of payment
  B) promotes specialization and exchange
  C) measures value and promotes exchange
  D) causes inflation in the economy
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  The correct answer is C .
• Question 1375: The promotion of savings culture is a feature of a? Options:
  A) trade association
  B) consumers' cooperative society
  C) thirft cooperative society
  D) business association
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  The correct answer is C .
• Question 1376: The Nigerian Telecommunications Limited is a? Options:
  A) jointly owned company
  B) public corpoation
  C) privately owned company
  D) public company
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  The correct answer is B .
• Question 1377: The major components of modern retailing include? Options:
  A) branding, doorstep selling and customer stimulation
  B) branding, sales promotion and mail order
  C) chain store, customer stimulating and doorstep selling
  D) branding, supermarkets and after sales-service
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  The correct answer is D .
• Question 1378: The net profit is the excess of gross profit and sources of income over all the expenses . This implies that net profit is Options:
  A) the difference between gross profit and trade expenses
  B) the different between gross profit and net sales
  C) sales less cost of sales including sales returns
  D) opening stock add purchases less closing stock
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  The correct answer is A .
• Question 1379: An example of service rendered by NIPOST is? Options:
  A) electronic mail
  B) couier
  C) telephone
  D) mail delivery
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  The correct answer is D .
• Question 1380: A body established to protect the interest of members against the exploitation of retail traders and manufacturers is the? Options:
  A) whloesalers' association
  B) consumers association
  C) government agency
  D) workers' union
  Show Answer
  The correct answer is B .