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 771:

  A country is said to be experiencing an unfavourable balance of trade if her

  Options:
  A) exports exceed imports
  B) visible imports exceeds Visible exports
  C) visible exports exceed visible imports
  D) imports and exports are equal
  Show Answer
  The correct answer is B .
• Question 772: 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 773:

  When the cost of sales is divided by the average stock, the result is

  Options:
  A) gross profit
  B) net profit
  C) rate of turnover
  D) working capital
  Show Answer
  The correct answer is C .
• Question 774: A worker who process rice is engaged in? Options:
  A) constructive activity
  B) comercial activity
  C) extractive activity
  D) manufactural activity
  Show Answer
  The correct answer is D .
• Question 775: A group of assets which a business acquires with the intention of reselling them are referred to as? Options:
  A) current assets
  B) investment assets
  C) fixed assets
  D) intangible assets
  Show Answer
  The correct answer is A .
• Question 776: Which of the following best describes an invoice? Options:
  A) Contractual agreement for the sale of goods
  B) Document specifying quantity, description, prices and total value of purchase .
  C) Receipt containing necessary information about the goods.
  D) Letter specifying the contractual sales of goods between two parties
  Show Answer
  The correct answer is B .
• Question 777: One of the functions of a retailer is the? Options:
  A) financing of production activities
  B) provision of credit facilities to relations
  C) provision of jobs for customers
  D) breaking of bulk
  Show Answer
  The correct answer is D .
• Question 778: The breaking down of a market into separate and identifiable elements is known as Options:
  A) differentiation
  B) segmentation
  C) skimming
  D) penetration
  Show Answer
  The correct answer is B .
• Question 779: A Major funtion of commerce is to Options:
  A) facilitiate human satisfaction through exchange
  B) eliminate trade barriers
  C) provide raw materials for manufacturers
  D) influence government policies
  Show Answer
  The correct answer is A .
• Question 780: The difference between total current assets and total current liabilities of a business is known as Options:
  A) quick ratio
  B) liquidity ratio
  C) working capital
  D) circulating capital
  Show Answer
  The correct answer is C .