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 471:

  Examples of consumer goods include all except________

  Options:
  A) Nurse
  B) Cars
  C) Spoon
  D) Shoes
  Show Answer
  The correct answer is B .
• Question 472: Communication process involves the transmission of a message over a selected channel to the? Options:
  A) receiver
  B) audience
  C) sender
  D) encoder
  Show Answer
  The correct answer is A .
• Question 473: The allocation of tasks to different skills in a production process is referred to as Options:
  A) production technique
  B) production function
  C) division of labour
  D) delegation of responsibility
  Show Answer
  The correct answer is C .
• Question 474:

  When does production ends?

  Options:
  A) When the goods are distributed to the wholesalers
  B) When the goods reaches the retailer
  C) When the goods reaches the final consumers
  D) When the goods are fully packaged
  Show Answer
  The correct answer is C .
• Question 475: Modern business philosophy emphasizes Options:
  A) quality products
  B) customer satisfaction
  C) sales volume
  D) public relations
  Show Answer
  The correct answer is B .
• Question 476: An aspect of commerce that facilitates the distribution of products is? Options:
  A) transportation
  B) advertising
  C) branding
  D) trading
  Show Answer
  The correct answer is A .
• Question 477:

  A form of money that has gone out of use is ?

  Options:
  A) commodity money
  B) bank money
  C) paper money
  D) foreign money
  Show Answer
  The correct answer is A .
• Question 478: 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 479: If a firm has a turnover of N50 000 and the cost of goods sold is N40 000, what is the percentage of gross profit on sale? Options:
  A) 30.5%
  B) 20.5%
  C) 20.0%
  D) 10.0%
  Show Answer
  The correct answer is C .
• Question 480: A term which indicates that share is temporarily suspended is Options:
  A) ex-dividend
  B) cum-dividend
  C) bond
  D) stock
  Show Answer
  The correct answer is A .