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 851: The Central Bank differs from commercial banks because it? Options:
  A) renders service to customers
  B) carries out foreign exchange transactions
  C) issues currencies
  D) discounts bills
  Show Answer
  The correct answer is C .
• Question 852:

  

  Determine the owner's equity.

  Options:
  A) N 38 000 000
  B) N 20 000 000
  C) N 42 000 000
  D) N 25 000 000
  Show Answer
  The correct answer is A .
• Question 853: A firm's organizational structure would change if Options:
  A) one of the major partner dies
  B) there is excessive competition
  C) there is seasonal variation in demand
  D) the scope of business operation changes
  Show Answer
  The correct answer is D .
• Question 854: The sales of goods through a medium that accepts money and delivers the items to the customer is Options:
  A) an automated teller machine
  B) a vending machiine
  C) a counting machine
  D) a branding machine
  Show Answer
  The correct answer is B .
• Question 855:

  Which of the following has power to order withdrawal of a particular food item from circulation?

  Options:
  A) Food and Drug Department of the Federal Ministry of Health
  B) Federal High Courts in Nigeria
  C) Standard Organization of Nigeria
  D) Local Government Health Inspectors
  Show Answer
  The correct answer is A .
• Question 856: In Nigeria, the ministry in charge of registering trade associations is that of? Options:
  A) industries
  B) commerce
  C) culture and tourism
  D) finance
  Show Answer
  The correct answer is B .
• Question 857: If a buyer is given 12.5% discount on N50,000 worth of goods, how much will he pay? Options:
  A) N56 250
  B) N43 750
  C) N43 250
  D) N6250
  Show Answer
  The correct answer is B .
• Question 858: The documents used in the purchase and sale of goods which contain other terms of trade are? Options:
  A) debit note and credit note
  B) delivery note and advice nopt
  C) invoice and order
  D) quotation and invoice
  Show Answer
  The correct answer is C .
• Question 859: Digital computer is divided into? Options:
  A) analogue, hybrid and mini
  B) super, maniframe, mini and micro
  C) mainframe, hybrid and micro
  D) super, mainframe, micro and analogue
  Show Answer
  The correct answer is A .
• Question 860: 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 .