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 141: The document issued by the seller which gives detail of the goods he sells is known as? Options:
  A) catalogue
  B) tender
  C) price list
  D) invoice
  Show Answer
  The correct answer is D .
• Question 142: The economic environment of a business is concerned with? Options:
  A) climate conditions
  B) changing values
  C) the growth rate
  D) the interest rate
  Show Answer
  The correct answer is C .
• Question 143:

  One of the functions of commerical banks that cannot be performed by central banks is

  Options:
  A) collection of old notes
  B) collection of deposits from the public
  C) issuance of treasury bills
  D) printing of bank notes
  Show Answer
  The correct answer is B .
• Question 144:

  Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

  	₦		₦
  Opening stock Purchase	1000 7000	Sales	8000
  Closing Stock	3000

  Trading Expenses

  Electricity Salaries Rent Depreciations

  ₦ 135 875 180 210

  From the figures given, calculate

  Percentage of net profit to turnover

  Options:
  A) 30%
  B) 5%
  C) 10%
  D) 20%
  Show Answer
  The correct answer is D .
• Question 145: The part of the computer that has the capacity to interpret instruction is _______ Options:
  A) universal power storage
  B) central processing unit
  C) keyboard
  D) monitor
  Show Answer
  The correct answer is B .
• Question 146:

  A commission charged on postal order is__________

  Options:
  A) postal zero
  B) postal orders
  C) poundage
  D) brokage
  Show Answer
  The correct answer is C .
• Question 147:

  The main objective of a trade association can best be described as promoting and protecting ? 

  Options:
  A) the product
  B) common interest
  C) the market
  D) customer's interest
  Show Answer
  The correct answer is B .
• Question 148: Another name or term for a dishonoured cheque is ______ Options:
  A) an order cheque
  B) a bounced cheque
  C) a bearer cheque
  D) an open cheque
  Show Answer
  The correct answer is B .
• Question 149: The major determinant of fire insurance premium is the? Options:
  A) type and structure of the property to be insured
  B) usefulness of the property to the owner
  C) owner of the property to be insured
  D) extent of fire damage anticipated
  Show Answer
  The correct answer is A .
• Question 150: Securities that entitle the investor to coupon rates are Options:
  A) bonds
  B) equities
  C) warrants
  D) treasury bills
  Show Answer
  The correct answer is B .