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 461:

  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 462: A form of money with face value which is greater than the value of the metal content is Options:
  A) legal tender
  B) bank notes
  C) token money
  D) commodity money
  Show Answer
  The correct answer is C .
• Question 463: The use of vending machines in retailing is hindered in a developing economy owing to? Options:
  A) poor distribution network
  B) low level of education
  C) inffective communication system
  D) lack os steady power supply
  Show Answer
  The correct answer is D .
• Question 464: Insurance companies operate on the principal of indemnity. This means that an insured person or firm collector Options:
  A) Only half of the loss suffered
  B) double the value of the losses suffered
  C) the total sum of the premium paid prior to the loss
  D) damage claims equal to the loss suffered.
  Show Answer
  The correct answer is D .
• Question 465: The type of marine insurance which covers either damage or loss to the vessel and such as caused by it to other vessel is? Options:
  A) hull insurance
  B) time insurance
  C) freight insurance
  D) cargo insurance
  Show Answer
  The correct answer is A .
• Question 466: The fixed and current assets of a business are called? Options:
  A) called up capital
  B) capital employed
  C) paid-up capital
  D) authorized capital
  Show Answer
  The correct answer is B .
• Question 467:

  Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

  	₦		₦
  Opening stock Purchase	1000 7000	Sales	8000
  Closing Stock	3000

  Trading Expenses

  Electricity Salaries Rent Depreciations

  ₦ 135 875 180 210

  From the figures given, calculate

  Percentage of net profit to turnover

  Options:
  A) 30%
  B) 5%
  C) 10%
  D) 20%
  Show Answer
  The correct answer is D .
• Question 468:

  All activities that contribute towards making goods and services available to the people are

  Options:
  A) Economic activities
  B) Political activities
  C) Productive activities
  D) Business activities
  Show Answer
  The correct answer is C .
• Question 469: The process of creating more for a product is called? Options:
  A) advertising
  B) marketing
  C) promotion
  D) consumerism
  Show Answer
  The correct answer is C .
• Question 470: A form of money that has gone out of use is? Options:
  A) paper money
  B) bank money
  C) commodity money
  D) foreign money
  Show Answer
  The correct answer is C .