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 671:

  Privatization is

  Options:
  A) Transfer of ownership from individual to government
  B) Transfer of ownership from government to stakeholders
  C) Transfer of ownership from government to individuals
  D) Government taking charge of all businesses
  Show Answer
  The correct answer is C .
• Question 672: Spot market goods are those which are available for Options:
  A) immidiate delivery
  B) short-term delivery
  C) long-term delivery
  D) end of the delivery
  Show Answer
  The correct answer is A .
• Question 673:

  

  Use the diagram above to answer this question

  X represents

  Options:
  A) action
  B) receiver
  C) transmission
  D) ideation
  Show Answer
  The correct answer is B .
• Question 674: An account maintained with a commercial bank for the purpose of foreign exchange transaction is the? Options:
  A) foreign account
  B) international account
  C) domiciliary account
  D) foreign reserves account
  Show Answer
  The correct answer is C .
• Question 675: In a public limited liability company, planning is carried out by? Options:
  A) the chairman of the board
  B) the board of directors
  C) shareholders
  D) employees
  Show Answer
  The correct answer is B .
• Question 676:

  A bear market is said to be in existence in a period of

  Options:
  A) Boom
  B) Stump
  C) Bullish
  D) Stagflation
  Show Answer
  The correct answer is B .
• Question 677:

  i. personal savings. ii. retained earnings iii. accrued taxes.

  Which of the items constitute internal sources of financing for companies?

  Options:
  A) i and ii
  B) i and iii
  C) ii and iii
  D) i, ii and iii
  Show Answer
  The correct answer is A .
• Question 678:

  Use the information below to answer questions 13 and 14

  	#
  Sales	50,000.00
  Debtors	10,000.00
  Cash in hand	5,000.00
  Opening stock	30,000.00
  Creditors	8,000.00
  Purchases	16,000.00
  Overdraft	12,000.00
  Closing stock	10,000.00

  Options:
  A) #35,000.00
  B) #20,000.00
  C) #15,000.00
  D) #14,000.00
  Show Answer
  The correct answer is D .
• Question 679: An aspect of marketing that stimulates buying by providing free gifts is? Options:
  A) advertising
  B) personal selling
  C) publicity
  D) sales promotion
  Show Answer
  The correct answer is D .
• Question 680: The temporary insurance certificate issued to the insured before drawing up a policy is a? Options:
  A) cover note
  B) testimonial
  C) time policy
  D) proposal form
  Show Answer
  The correct answer is A .