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 1391: An association that acts as a watchdog between enterpreneurs and government to protect trade from any unfavourable laws is said to be a Options:
  A) cartel
  B) syndicate
  C) Chamber of Commerce
  D) Nigeria Bar Association
  Show Answer
  The correct answer is C .
• Question 1392: Public relations and advertising are similar in terms of? Options:
  A) communicating product information
  B) customer education
  C) the mode of operation
  D) creating a favorable attitude
  Show Answer
  The correct answer is A .
• Question 1393:

  Hire purchase is advantageous to the seller in that

  Options:
  A) it elevates his living standard
  B) people pay on installment
  C) his turnover will increase
  D) it enhances high level of patronage
  Show Answer
  The correct answer is D .
• Question 1394:

  

  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 .
• Question 1395: The breaking down of a market into separate and identifiable elements each with its own special product requirement is known as market Options:
  A) differentiation
  B) segmentation
  C) penetration
  D) identification
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  The correct answer is B .
• Question 1396:

  One of the principles of insurance is

  Options:
  A) Proximate cause
  B) Fidelity guarantee
  C) Consequential loss
  D) Surrender value
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  The correct answer is A .
• Question 1397: 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 1398:
  

  Use the information above to answer the question below.

  Find the current ratio.

  Options:
  A) 1.53:1
  B) 1, 85:1
  C) 0. 87: 1
  D) 0, 50:1
  Show Answer
  The correct answer is B .
• Question 1399: Chinyere agree to make a dress for Halima with September 20, 1995 as the delivery date. If the dress was not ready on that date, Halima could Options:
  A) sue Chinyere for damages
  B) sue Chinyere for specific performance
  C) seize another gown from Chinyere's shop
  D) regard the contract between them as terminated
  Show Answer
  The correct answer is B .
• Question 1400: The selling of new shares to exist shareholders is referred to as? Options:
  A) public issue
  B) offer for sale
  C) rights issue
  D) bonus issue
  Show Answer
  The correct answer is C .