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 801:

  A printer that burns the print image into the photosensitive drum is called?

  Options:
  A) dot matrix printer
  B) laser printer
  C) daisy wheel printer
  D) thermal printer
  Show Answer
  The correct answer is B .
• Question 802: The Nigerian Stock Exchange publishes a daily official list that gives full information on the? Options:
  A) method of transation agreed to by members
  B) number of participating members in a day
  C) changes in the prices and earnings of securities
  D) changes in the official rules set by the market
  Show Answer
  The correct answer is C .
• Question 803: The net profit is the excess of gross profit and sources of income over all the expenses . This implies that net profit is Options:
  A) the difference between gross profit and trade expenses
  B) the different between gross profit and net sales
  C) sales less cost of sales including sales returns
  D) opening stock add purchases less closing stock
  Show Answer
  The correct answer is A .
• Question 804:

  The best mode of ensuring that items posted get to the named addresses is through

  Options:
  A) recorded delivery
  B) certificate of posting
  C) registered mail
  D) express mail
  Show Answer
  The correct answer is C .
• Question 805: Foreign trade also involves? Options:
  A) providing services for other countries
  B) specialization and the exchange of goods in a country
  C) buying and selling within a country
  D) the exchange of goods and services between firms
  Show Answer
  The correct answer is A .
• Question 806:

  

  The capital employed is

  Options:
  A) ₦1,000
  B) ₦1,370
  C) ₦140
  D) ₦50
  Show Answer
  The correct answer is A .
• Question 807: The concept that refers to the sale, transfer or exchange of goods and services is Options:
  A) industry
  B) trade
  C) tariff
  D) marketing
  Show Answer
  The correct answer is B .
• Question 808: The type of partnership in which all partners are jointly liable in bearing risk is? Options:
  A) limited partnership
  B) partnership-at-will
  C) ordinary partnership
  D) industral partnership
  Show Answer
  The correct answer is C .
• Question 809: A cheque that has been drawn but not presented for payment can still be honored? Options:
  A) wintin 6 months
  B) after 9 months
  C) within 9 months
  D) after 6 months
  Show Answer
  The correct answer is A .
• Question 810: When a buyer has been overcharged for goods supplied, the seller issues a _______? Options:
  A) debit note
  B) proforma invoice
  C) letter of credit
  D) credit note
  Show Answer
  The correct answer is D .