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 1431:

  A retail business that sells goods by post, using catalogue is a

  Options:
  A) chain store
  B) department store
  C) mail order firm
  D) shopping mail
  Show Answer
  The correct answer is C .
• Question 1432: A group of companies is a collection of? Options:
  A) subsidiaries and their holding company
  B) firms
  C) associates and their holding company
  D) industries
  Show Answer
  The correct answer is A .
• Question 1433: The function of money that is mostly affected by inflation is Options:
  A) store of value
  B) medium of exchange
  C) measure of value
  D) unit of account
  Show Answer
  The correct answer is A .
• Question 1434:

  The policy used when contracts are awarded as a result of tender is________

  Options:
  A) market penetration
  B) market skimming
  C) Bid Pricing
  D) Product Line Pricing
  Show Answer
  The correct answer is C .
• Question 1435:

  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 1436: Tolu purchase goods from Yemisi and is to pay custom duties before collection. The goods are likely to be collected from. Options:
  A) a manufacturer's warehouse
  B) a bonded warehouse
  C) an importer's warehouse
  D) a wholesaler's warehouse
  Show Answer
  The correct answer is B .
• Question 1437:

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

  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 1438:

  You have just bought a new car. What Insurance policy will you take to cover it?

  Options:
  A) Accident Insurance
  B) Fire Insurance
  C) Marine Insurance
  D) Fidelity Guarantee Insurance
  Show Answer
  The correct answer is A .
• Question 1439:

  The strategy adopted by a firm that ceases to operate at one or more locations because of inactivity is

  Options:
  A) consolidation
  B) rejuvenation
  C) diversification
  D) focus
  Show Answer
  The correct answer is A .
• Question 1440:

  Which of the following regulates and controls the activities in the Nigeria Stock Exchange?

  Options:
  A) SEC
  B) CBN
  C) BPE
  D) NDIC
  Show Answer
  The correct answer is A .