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 441:

  A number of shipping lines operating on a certain route, which agree on a common policy regarding the conditions under which goods are to be carried

  Options:
  A) Cartel
  B) Conference
  C) Syndicate
  D) Trust
  Show Answer
  The correct answer is B .
• Question 442: Given

  	N
  sales	15,000
  opening stock	5,600
  purchase	9,700
  closing stock	4,400
  gross profit	4,500
  net profit	2,000

  What is the rate of turnover from the table?

  Options:
  A) 3.50 times
  B) 3.00 times
  C) 2.00 times
  D) 2.18
  Show Answer
  The correct answer is D .
• Question 443: In product pricing, which of these elements need more consideration than others? Options:
  A) The cost of producing the product
  B) The economic conditions in the market
  C) the demography of the buyers of the product
  D) The demand for the product
  Show Answer
  The correct answer is A .
• Question 444: A source of capital that has elements of debt and equity is a? Options:
  A) debenture
  B) warrant
  C) loan
  D) share
  Show Answer
  The correct answer is D .
• Question 445:

  A specially-designed mode of transport for conveying liquid and gas is a

  Options:
  A) coaster
  B) tanker
  C) liner
  D) ferry
  Show Answer
  The correct answer is B .
• Question 446: Printed messages sent by cable are recorded as Options:
  A) telegram
  B) SMS
  C) telex
  D) MMS
  Show Answer
  The correct answer is A .
• Question 447: The composite functions of management are? Options:
  A) planning, supervising, communicating
  B) planning, controlling, organising and directing
  C) coordinating, supervising , staffing and comunicating
  D) directing, supervising, motivating, and controlling
  Show Answer
  The correct answer is B .
• Question 448: Bank giro is a system where? Options:
  A) commercial banks can give loan to all customers
  B) a central bank opens account for commercial banks
  C) a customer uses cheque to pay serveral bills
  D) a customer closes his account by writting cheque
  Show Answer
  The correct answer is D .
• Question 449: The process of bringing a company under exclusive state ownership and control is know as Options:
  A) nationalization
  B) commercialization
  C) indigenization
  D) privatization
  Show Answer
  The correct answer is A .
• Question 450: Social responsibility of business requires enterprises to Options:
  A) hold annual social parties for the public
  B) draw their workers only from the immediate environment
  C) address themselves to issues relating to the society
  D) set up social welfare centers in their areas of operation
  Show Answer
  The correct answer is C .