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 1461: The scope of commerce is limited to ________ Options:
  A) wholesale and entrepot trade
  B) trade and aids-to-trade
  C) wholesale and retail trade
  D) home and foreign trade
  Show Answer
  The correct answer is B .
• Question 1462:

  All but one is not a demerit of advertising?

  Options:
  A) It leads to monopoly
  B) Buyers can buy unnecessarily
  C) Increase in profit
  D) High cost
  Show Answer
  The correct answer is C .
• Question 1463: When it became necessary to liquidate a company, the frist step to be taken is the appointment of Options:
  A) a receiver
  B) an auditor
  C) an accountant
  D) liquidator
  Show Answer
  The correct answer is D .
• Question 1464: Determine the company's reserve share capital? Options:
  A) N2500 000
  B) N1000 000
  C) N1500 000
  D) N2000 000
  Show Answer
  The correct answer is B .
• Question 1465: The physical components of a computer system refers to the? Options:
  A) system unit
  B) hardware
  C) software
  D) compact disk
  Show Answer
  The correct answer is B .
• Question 1466: An example of a consumer protection agency is the? Options:
  A) Nigeria Bar association
  B) Nigeria Medical Association
  C) Ferderal Environmental Protection Agency
  D) Manufacturers Association of Nigeria
  Show Answer
  The correct answer is C .
• Question 1467:

  A group of sellers who pool their resources to buy goods in large quantities and sell to its members is a

  Options:
  A) wholesaler cooperative society
  B) thrift and credit society
  C) consumer cooperative society
  D) chamber of commerce
  Show Answer
  The correct answer is A .
• Question 1468: 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 1469:

  One major characteristic of credit unions and thrift societies is that

  Options:
  A) the contribution of every member depends on the member's ability
  B) the legal processes involved in their formation are rigid
  C) membership is compulsory to people in the same line of business
  D) a minimum of ten people in the same line of business can form the union
  Show Answer
  The correct answer is A .
• Question 1470: If a customer pays within nine days of receiving goods and takes advantage of 3% off the invoice price, this is stated as Options:
  A) 3/9;net 30
  B) 9/27;net 30
  C) 30;net 9/3
  D) 9/30;net 3
  Show Answer
  The correct answer is D .