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 541: One of the inputs in production that can be motivated by remuneration is Options:
  A) capital
  B) enterpreneur
  C) labour
  D) land
  Show Answer
  The correct answer is C .
• Question 542: The activities of consumers association in Nigeria have not been effective because Options:
  A) the consumers are too many
  B) the government is not favourabley dispose towards consumerism
  C) there is poor enlightenment about consumer rights
  D) the consumers have no medium for expressing their feelings
  Show Answer
  The correct answer is D .
• Question 543:

  A merchant wholesaler is referred to as?

  Options:
  A) del-credere agent
  B) a broker
  C) rack jobber
  D) a factor
  Show Answer
  The correct answer is D .
• Question 544: The physical component of a computer system is Options:
  A) software
  B) hardware
  C) hard disk
  D) floppy disk
  Show Answer
  The correct answer is B .
• Question 545: A company which issues a promissory note in lieu of payment for goods purchased Options:
  A) can refuse to pay ondue date since it is only a promise
  B) is bound to redeem the note for cash on due date
  C) is not bound to renew the note before payment
  D) can return the goods purchase and refuse to pay
  Show Answer
  The correct answer is B .
• Question 546:

  An example of vertical integration is___________

  Options:
  A) Trust
  B) Cartel
  C) Merger
  D) Price Ring
  Show Answer
  The correct answer is A .
• Question 547:

  Chinyere agreed to make a dress for Halima with September 20, 1995 as the delivery date. If the dress was not ready at that date, Halima could

  Options:
  A) Seize another gown from Chinyere’s shop
  B) Regard the contract between them as terminated
  C) Sue Chinyere for specific performance
  D) Sue Chinyere for damages
  Show Answer
  The correct answer is B .
• Question 548: The bulls and bears in the Stock Exchange market help to minimize Options:
  A) the number of shares and bonds sold
  B) price increases of securities
  C) fluctuations in the prices os securities
  D) the elasticity of the prices of securities
  Show Answer
  The correct answer is C .
• Question 549: The concept which focuses on consumers in decision-making is? Options:
  A) selling concept
  B) marketing concept
  C) product concept
  D) production concept
  Show Answer
  The correct answer is B .
• Question 550:

  

  A company earned a total revenue of ₦108 million with a total cost of ₦91 million in 1991. If it paid 45% tax on its gross profit for that year, determine its net profit.

  Options:
  A) ₦24.65 million
  B) ₦17.00 million
  C) ₦9. 35 million
  D) ₦7.65 million
  Show Answer
  The correct answer is C .