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: The primary objectives of a trade association is to Options:
  A) undertake researchwork on behalf of members
  B) establish easy link with government
  C) exchange information and negotiate as a preasure group
  D) operat as a group against other groups
  Show Answer
  The correct answer is C .
• Question 12: A seller attracts and retains patronage by? Options:
  A) enhancing public relationship
  B) enhance sales promotion
  C) rendering pre-sales services
  D) rendering customer service
  Show Answer
  The correct answer is C .
• Question 13: The proposed monetary integration within ECOWAS sub-region has the overriding benefit of a Options:
  A) improved exchange
  B) enhanced trade
  C) enhance development
  D) improved relations
  Show Answer
  The correct answer is B .
• Question 14:

  A country is said to be experiencing an unfavourable balance of trade if her

  Options:
  A) exports exceed imports
  B) visible imports exceeds Visible exports
  C) visible exports exceed visible imports
  D) imports and exports are equal
  Show Answer
  The correct answer is B .
• Question 15: The input, output and central processing units are the basic components of a computer's? Options:
  A) memory
  B) printer
  C) hardware
  D) software
  Show Answer
  The correct answer is C .
• Question 16: 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 17: The shares of a company listed on the stock exchange for sale are referred to as? Options:
  A) registered shares
  B) deferred shares
  C) issued shares
  D) quoted shares
  Show Answer
  The correct answer is D .
• Question 18: Governments impose import duties for the following reasons EXCEPT Options:
  A) to raise revenue for other services
  B) to act as a retaliatory measure against other governments
  C) to discourage the redistribution of income at home
  D) to protect home industries from external competition
  Show Answer
  The correct answer is C .
• Question 19:

  

  What are fixtures and fittings in a balance sheet?

  Options:
  A) liquid capital
  B) current assets
  C) fixed assets
  D) working capital
  Show Answer
  The correct answer is C .
• Question 20: Which of the following requires payment into the payee's account? Options:
  A) Crossed cheque
  B) Traveller's cheque
  C) Open cheque
  D) Certified chegues
  Show Answer
  The correct answer is A .