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 581: One of the functions of the retailer is Options:
  A) granting credit facilities to close relatives
  B) provision of after - sales services
  C) branding and packaging of goods
  D) warehousing of goods
  Show Answer
  The correct answer is B .
• Question 582: An employer insures against his employees' dishonesty by taking up? Options:
  A) fidelity guarantee insurance
  B) accident insurance
  C) group life assurance
  D) endowment policy
  Show Answer
  The correct answer is A .
• Question 583:

  The difference between a country's imports and exports of goods in a particular year is

  Options:
  A) terms of trade
  B) terms of payment
  C) balance of payment
  D) balance of trade
  Show Answer
  The correct answer is C .
• Question 584:

  A form of money which was not used in the early days of trade is

  Options:
  A) tobacco
  B) metal bars
  C) cowries
  D) coins
  Show Answer
  The correct answer is C .
• Question 585:
  

  Use the information above to answer the question below.

  What is the owners' equity?

  Options:
  A) N 250 000
  B) N 300 000
  C) N 420 000
  D) N 200 000
  Show Answer
  The correct answer is A .
• Question 586:

  The central working system of a computer used for data processing is the

  Options:
  A) monitor
  B) floppy disk drive
  C) hard drive
  D) memory unit
  Show Answer
  The correct answer is D .
• Question 587:

  A conter offer is an offer that is

  Options:
  A) different from the original offer
  B) breached
  C) different in terms of acceptance
  D) extended to several people at once
  Show Answer
  The correct answer is A .
• Question 588: The postal organization which preceded the Nigerian Postal Service is Options:
  A) Post and Telecommunication
  B) Post and Telephone
  C) Post and Teleprinter
  D) Post and Telegraph
  Show Answer
  The correct answer is D .
• Question 589:

  The most important resources of business is_______

  Options:
  A) Human resources
  B) Money resources
  C) Material resources
  D) Opportunities
  Show Answer
  The correct answer is A .
• Question 590: Which of these is both merit and demerit in partnership? Options:
  A) The number of partners
  B) It unlimited nature
  C) The bearing of risk
  D) The withdrawal of a major partner
  Show Answer
  The correct answer is A .