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 11: A trend in retailing which enables consumers to have free access to different products is? Options:
  A) after-sales services
  B) branding
  C) self-services
  D) vending machine
  Show Answer
  The correct answer is C .
• Question 12:
  

  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 13: The coming together of a manufacturing business with a firm that markets its products is Options:
  A) backward integration
  B) a consortium
  C) forward integration
  D) a syndicate
  Show Answer
  The correct answer is C .
• Question 14:

  The quality of money which makes it possible to buy goods in small quantities is

  Options:
  A) portability
  B) homogeneity
  C) divisibility
  D) durability
  Show Answer
  The correct answer is C .
• Question 15:

  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 16: An example of a non-insurable risk is? Options:
  A) burglary
  B) speculation
  C) fire
  D) accident
  Show Answer
  The correct answer is B .
• Question 17: For establishment of a powerful consumers' association in Nigeria to exist, there must be Options:
  A) financial and moral support from the public
  B) honest and commited leadership
  C) allocation of goods from the producer
  D) freedom from external influence
  Show Answer
  The correct answer is D .
• Question 18: When two or more companies agree to execute a project too large for one to handle, this is referred to as? Options:
  A) an amalgamation
  B) a cartel
  C) a merger
  D) a consortium
  Show Answer
  The correct answer is D .
• Question 19: A distinction between Comprehensive insurance and Thrid party Insurance is that the latter covers damages Options:
  A) caused by the insured vehicle
  B) to the insured vehicle
  C) cause by the other vehicle
  D) to the driver of insured vehicle
  Show Answer
  The correct answer is A .
• Question 20:

  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 .