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 731: The availability of goods and services is brought to the notice of customers through? Options:
  A) personal selling
  B) public relations
  C) the telephone
  D) advertising
  Show Answer
  The correct answer is D .
• Question 732:

  Given:

  $\begin{array}{cc}\text{Opening stock}& 50,000\\ \text{Purchases}& 200,000\\ \text{Sales}& 350,000\\ \text{Closing stock}& 80,000\end{array}$

  What is the cost of good sold?

  Options:
  A) ₦200,000
  B) ₦190,000
  C) ₦170,000
  D) ₦175,000
  Show Answer
  The correct answer is C .
• Question 733: The process of creating more for a product is called? Options:
  A) advertising
  B) marketing
  C) promotion
  D) consumerism
  Show Answer
  The correct answer is C .
• Question 734: In international trade, documentary credit is also known as? Options:
  A) credit note
  B) letters of credit
  C) bankers' note
  D) letter of hypothecation
  Show Answer
  The correct answer is B .
• Question 735: The activity which entails buying of goods in bulk and selling in small quantities to retailers is? Options:
  A) assembling
  B) wholesaling
  C) retailing
  D) merchandising
  Show Answer
  The correct answer is B .
• Question 736: The management function that makes the difference in intensity of behavior is? Options:
  A) coordinating
  B) controlling
  C) motivation
  D) planning
  Show Answer
  The correct answer is C .
• Question 737: The abbreviation C and F indicate that the? Options:
  A) production cost excludes the cost of carriage
  B) selling price includes the cost of carriage
  C) cost of production includes dilivery charges
  D) cost price includes the cost of carriage
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  The correct answer is B .
• Question 738: If a customer pays within nine days of receiving goods and takes advantage of 3% off the invoice price, this is stated as Options:
  A) 3/9;net 30
  B) 9/27;net 30
  C) 30;net 9/3
  D) 9/30;net 3
  Show Answer
  The correct answer is D .
• Question 739: A console is a device used in Options:
  A) moving an indicator on the screen
  B) communicating between operator and programmer
  C) holding magnetic tape reel
  D) forming characters by heating sensitive ribbon
  Show Answer
  The correct answer is A .
• Question 740: An agreement by the insurer to compensate the insured for losses suffered is? Options:
  A) policy
  B) surrender value
  C) caveat emptor
  D) indemnity
  Show Answer
  The correct answer is D .