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 131: If a firm has a turnover of N50 000 and the cost of goods sold is N40 000, what is the percentage of gross profit on sale? Options:
  A) 30.5%
  B) 20.5%
  C) 20.0%
  D) 10.0%
  Show Answer
  The correct answer is C .
• Question 132: The main difference between nationalization and indigenization is in terms of Options:
  A) shareholding
  B) profit
  C) technology
  D) efficiency
  Show Answer
  The correct answer is C .
• Question 133: The environmental hazard that is most difficult to control is Options:
  A) land pollution
  B) water pollution
  C) air pollution
  D) political unrest
  Show Answer
  The correct answer is C .
• Question 134:

  A number of shipping lines operating on a certain route, which agree on a common policy regarding the conditions under which goods are to be carried

  Options:
  A) Cartel
  B) Conference
  C) Syndicate
  D) Trust
  Show Answer
  The correct answer is B .
• Question 135: The measure of independence available to the individual business unit that come together is the main different between Options:
  A) veritcal and horizontal integration
  B) mergers and acquisition
  C) consortium and almalgamation
  D) trust and cartel
  Show Answer
  The correct answer is B .
• Question 136:

  Commerce is defined as

  Options:
  A) buying and selling of goods and services only
  B) all activities in the distribution and exchange of goods and services
  C) all activities involved in the production of goods and services
  D) transporting and warehousing of goods only
  Show Answer
  The correct answer is B .
• Question 137: A specialized institution in Nigeria that deals in capital investments in the form of stocks, share, bond and debentures is the? Options:
  A) Securities and Exchanfge commission
  B) commodity market
  C) Nigerian Stock Exchange
  D) Central Bank of Nigeria
  Show Answer
  The correct answer is A .
• Question 138: A source of capital that has elements of debt and equity is a? Options:
  A) debenture
  B) warrant
  C) loan
  D) share
  Show Answer
  The correct answer is D .
• Question 139: The evolution of commerce in Nigeria is traceable to the? Options:
  A) period of barter economy as human needs became limitless
  B) desire by human beings to satify their needs through the services of other people inthe society
  C) development of human civlizations and the desire to meet their needs
  D) primitive stage of existence of human beings
  Show Answer
  The correct answer is B .
• Question 140:

  Average stock is derived by adding

  Options:
  A) closing stock to purchase divided by 2
  B) closing stock to opening stock
  C) opening stock to closing stock divided by 2
  D) opening stock to purchases
  Show Answer
  The correct answer is C .