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 501:

  

  Use the diagram above to answer the question.

  What does V represent?

  Options:
  A) Ais to trade
  B) Advertising
  C) Manufacturing
  D) industry
  Show Answer
  The correct answer is A .
• Question 502:

  $\begin{array}{cc}N& N\\ \text{Capital 8000}& \text{Plant and machinery5000}\\ \text{Net profit 4000}& \text{Motor Van 4500}\\ \text{Drawings 200}& \text{Stock 2000}\\ \text{Creditors 2000}& \text{Debtors 1000}\\ \text{Accurals 300}& \text{Banks 100}\\ & \text{Cash 600}\\ 14100& 14100\end{array}$

  What is the current ration?

  Options:
  A) 4 : 1
  B) 5 : 1
  C) 3 : 1
  D) 2 : 1
  Show Answer
  The correct answer is D .
• Question 503: 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 504: The scope of economic activities can be enlarged by Options:
  A) transportation and trading
  B) business and its promotion
  C) trading and aids to trade
  D) insurance and banking
  Show Answer
  The correct answer is C .
• Question 505: The distribution of petroleum products in Nigeria is through Options:
  A) rail
  B) road
  C) sea
  D) air
  Show Answer
  The correct answer is D .
• Question 506:

  On liquidation of a public limited liability company, the residual owners are the?

  Options:
  A) creditors
  B) debenture shareholders
  C) preference shareholders
  D) ordinary shareholder
  Show Answer
  The correct answer is D .
• Question 507: Which of the following are forms of sales promotion? Options:
  A) advertising, personal selling and publicity
  B) advertising, market skimming and publicity
  C) personal selling, packaging and publicity
  D) advertising, packaging and publicity
  Show Answer
  The correct answer is A .
• Question 508: Which of the following has power to order withdrawal of a particular food item from circulation? Options:
  A) Standard organisation of Nigeria
  B) Federal High courts in Nigeria
  C) Food and Drug Department of the Federal Ministry of health
  D) Local government health inspector
  Show Answer
  The correct answer is C .
• Question 509:

  The arrangement and interrelationship of the various components and positions of a business is referred to as

  Options:
  A) line structure
  B) unity of direction
  C) organisational structure
  D) clarity of objective
  Show Answer
  The correct answer is C .
• Question 510:

  A feature of supermarkets which distinguishes it from other large scale retail outlets is that items sold are

  Options:
  A) mainly household goods
  B) mainly industrial goods
  C) delivered by post
  D) one line of products
  Show Answer
  The correct answer is A .