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 291: The differences between the central bank and commercial bank is that the former ______ Options:
  A) discount treasury bills
  B) give loans to the public
  C) saves valuable of individual
  D) serves as lender of last resort
  Show Answer
  The correct answer is D .
• Question 292: The assembling of products into usable forms is known as Options:
  A) creation
  B) manufacturing
  C) construction
  D) formation
  Show Answer
  The correct answer is C .
• Question 293: The members of the Niger Basin Commission include? Options:
  A) Guinea, Ghana and Niger Republic
  B) Burkina Faso, Guinea and Nigeria
  C) The Gambia, Benin Republic and Chad
  D) Nigeria, Benin Republic and Chad Republic
  E) Nigeria, the Gambia and Cameroun
  Show Answer
  The correct answer is B .
• Question 294:

  One advantage of small scale retail outlets is

  Options:
  A) availability of self service facilities
  B) ability to buy in bulk
  C) easy acess to large amount of capital
  D) personal attention to customers
  Show Answer
  The correct answer is D .
• Question 295:

  A business unit in which savings of members are lent to others is a

  Options:
  A) consumer cooperative society
  B) producer cooperative society
  C) credit and thrift society
  D) wholesale cooperative society
  Show Answer
  The correct answer is C .
• Question 296: In response to an inquiry from a customer, a wholesaler is expected to send back Options:
  A) a consignment note
  B) an order
  C) a qoutation
  D) an advice note
  Show Answer
  The correct answer is C .
• Question 297: The development of tourism in Nigeria will enhance? Options:
  A) agriculture
  B) revenue generation
  C) export
  D) labour mobility
  Show Answer
  The correct answer is B .
• Question 298: The business in the stock exchange is characterized essentially by Options:
  A) dealing
  B) brokerage
  C) speculations
  D) transactions
  Show Answer
  The correct answer is A .
• Question 299: The focal point of the marketing efforts is the` Options:
  A) seller
  B) profit
  C) product
  D) buyer
  Show Answer
  The correct answer is D .
• Question 300:

  Given:
  Opening stock: ₦1,800
  Purchases: ₦2,800
  Sales: ₦8,000
  Closing stock: ₦350
  Carriage on sales: ₦500

  Calculate the value of the unused stock.

  Options:
  A) #800
  B) #500
  C) #350
  D) #320
  Show Answer
  The correct answer is C .