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 361: The main motive of chambers of commerce and trade association is to? Options:
  A) assist governemnt in achieving its objective
  B) protect the interest of consumers
  C) maximize profit
  D) protect and promote the interests of members
  Show Answer
  The correct answer is D .
• Question 362: The primary objective of a business organization is to Options:
  A) cater for the neds of its owners
  B) work towards making returns
  C) assist the government to serve the citizens
  D) improve the standard of living of its proprietors
  Show Answer
  The correct answer is B .
• Question 363: One of the facilities enjoyed by a current account holder is? Options:
  A) a dividend
  B) a bonus
  C) an overdraft
  D) interest on deposits
  Show Answer
  The correct answer is C .
• Question 364: To make a simple contract valid, the intention must be? Options:
  A) legal and written
  B) legal and binding
  C) legal and attractive
  D) legal and harmonious
  Show Answer
  The correct answer is B .
• Question 365: The main function of thrift, credit and loans co-operative societies is to Options:
  A) educate their members
  B) collect money from their members
  C) disburse money to their members
  D) raise investment finance among thir members
  Show Answer
  The correct answer is D .
• Question 366:

  Use the following information to answer this question.

  The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

  Initial Capital	5000
  Net Profit	1000
  Furniture	2000
  Equipment	2900
  Debtors	100
  Stock	1000
  Bank	500

   

  From the above, calculate Current assets

   

  Options:
  A) 1600
  B) 1060
  C) 1500
  D) 600
  Show Answer
  The correct answer is A .
• Question 367:

  The central working system of a computer used for data processing is the

  Options:
  A) monitor
  B) floppy disk drive
  C) hard drive
  D) memory unit
  Show Answer
  The correct answer is D .
• Question 368: The most suitable organizational structure for small or medium sized enterprises is Options:
  A) line structure
  B) staff structure
  C) committee structure
  D) functional structure
  Show Answer
  The correct answer is A .
• Question 369:

  The three components of staffing are? 

  Options:
  A) recruitment, interview and appointment
  B) recruitment, selection and placement
  C) recruitment, test and placement
  D) recruitment, procurement and appointment
  Show Answer
  The correct answer is B .
• Question 370: Emeka ordered goods for his retail shop. The manufacturer sells the goods at retail price of N 500 but would give it to Emeka at N 400. What kind of discount did he get? Options:
  A) Cash discount
  B) Trade discount
  C) Quantity discount
  D) Seasonal discount.
  Show Answer
  The correct answer is A .