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 251: The role of a wholesaler in the channel of distribution is to? Options:
  A) produce goods in large quantities and sell in small quantities
  B) buy goods directly from the manufacturers
  C) buy goods in large quantities and sell in small quantities
  D) sell goods directly to the consumers
  Show Answer
  The correct answer is C .
• Question 252:

  A form of money that has gone out of use is ?

  Options:
  A) commodity money
  B) bank money
  C) paper money
  D) foreign money
  Show Answer
  The correct answer is A .
• Question 253:

  

  Determine the owner's equity.

  Options:
  A) N 38 000 000
  B) N 20 000 000
  C) N 42 000 000
  D) N 25 000 000
  Show Answer
  The correct answer is A .
• Question 254: Which of the following makes other functions of business its appendages? Options:
  A) production
  B) marketing
  C) finance
  D) personnel
  Show Answer
  The correct answer is B .
• Question 255: An agent must not make any secret profit in the performance of his duties but can be rewarded by his principal through Options:
  A) remuneration and indemnity
  B) payments of commision and salary
  C) granting of business concessions
  D) forwarding of business links
  Show Answer
  The correct answer is B .
• Question 256: Inventory control is an aspect of a Options:
  A) operations research
  B) materials management
  C) C the organizing function
  D) D span of control
  Show Answer
  The correct answer is B .
• Question 257: An example of a service-rendering trade association is? Options:
  A) Nigeria Bar Association
  B) Association of Nigeria Miners
  C) Cocoa Farmers' Association
  D) Manufacturers' Association of Nigeria
  Show Answer
  The correct answer is A .
• Question 258:

  A document which entitles its holder to the gods named on it, which is stored in a specific warehouse is called________

  Options:
  A) Debit note
  B) Credit note
  C) Warrant
  D) Shipping note
  Show Answer
  The correct answer is C .
• Question 259: The effective and efficient delivery of the desired satisfaction by a firm is said to be the practice of Options:
  A) Product concept
  B) Marketing concept
  C) Distribution concept
  D) Price concept
  Show Answer
  The correct answer is B .
• Question 260: A bank form used to transfer money from personal to creditor's account is called? Options:
  A) debits transfer form
  B) credit transfer form
  C) customers transfer form
  D) banks transfer form
  Show Answer
  The correct answer is A .