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 271:

  $\begin{array}{cc}\text{Opening stock}& 1800\\ \text{Purchases}& 2800\\ \text{Sales}& 800\\ \text{Closing stock}& 800\\ \text{Carriage on sale}& 500\end{array}$

  Calculate the value of the unused stock.

  Options:
  A) N320
  B) N350
  C) N500
  D) N800
  Show Answer
  The correct answer is D .
• Question 272: Poor sewage disposal, oil spill and indiscriminate refuse dumping all lead to? Options:
  A) land pollution
  B) water pollution
  C) land and water pollution
  D) air and water pollution
  Show Answer
  The correct answer is C .
• Question 273: An advantage of division of labour is _______? Options:
  A) productivity and total output is increased
  B) monotony of task is eliminated
  C) loss of individual craftmanship is minimized
  D) interdependence of workers increase remuneration
  Show Answer
  The correct answer is A .
• Question 274:

  Services which are of absolute monopoly can best be provided by?

  Options:
  A) private companies
  B) limited liability
  C) public companies
  D) public enterprises
  Show Answer
  The correct answer is D .
• Question 275: In order to increase the capital owned, a sole trader may Options:
  A) seek for bank loan
  B) issue debentures
  C) acquire extra shop fittings on credit
  D) draw less of his profit for personal use
  Show Answer
  The correct answer is D .
• Question 276: Digital computer is divided into? Options:
  A) analogue, hybrid and mini
  B) super, maniframe, mini and micro
  C) mainframe, hybrid and micro
  D) super, mainframe, micro and analogue
  Show Answer
  The correct answer is A .
• Question 277:

  Use the following information to answer this question.

  Oladosu Bookshop

  54, Ahmadu Bello Way

  Kaduna

  P.O.BOOX 336

  6 January 1989

  Olu Stationery ltd

  17, Kakawa Street

  Lagos

  Dear Sir,

  We require 200 pieces of 0.8mm fountain pens and 1000 pieces of plain single line 21cm × 18cm exercise books.

  Please give us quotes for the respective articles for immediate delivery and a statement of your terms of trade.

  Yours Faithfully

  Manager.

  From the question above, the document the firm or organization will send to the buyer is

  Options:
  A) Delivery notes
  B) Advice notes
  C) An order form
  D) Quotations
  Show Answer
  The correct answer is D .
• Question 278: Nationalization of an industry means that its ownership becomes that of Options:
  A) government
  B) shareholders
  C) taxpayers
  D) indigenes
  Show Answer
  The correct answer is A .
• Question 279: The association that comprises all types of businesses is referred to as? Options:
  A) chamber of commerce
  B) trust
  C) trade association
  D) cartel
  Show Answer
  The correct answer is A .
• Question 280: A pattern that shows the kinds of participants involved in the production, distribution and ultimate use of a product is referred to as? Options:
  A) selection
  B) strategy
  C) structure
  D) synergy
  Show Answer
  The correct answer is C .