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 961: The organised effort of consumers to protect themselves against the unfair practices of businessmen is known as __ Options:
  A) Stroke
  B) Consumerism
  C) Picketing
  D) Demonstration
  Show Answer
  The correct answer is B .
• Question 962: The element of the marketing mix are Options:
  A) product promotion, place and price
  B) [personal selling, advertising and research
  C) promotion, production, place and price
  D) procurement, price, product and place
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  The correct answer is A .
• Question 963: 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
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  The correct answer is B .
• Question 964:

  A partnership may be automatically dissolved due to the following factors except________

  Options:
  A) Court verdict
  B) Joint decision
  C) Admission of new partners
  D) Bankruptcy of a partner
  Show Answer
  The correct answer is C .
• Question 965:

  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 966: A liquidator's fee is to be charged to the? Options:
  A) realization account
  B) trading account
  C) revaluation account
  D) reconstruction account
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  The correct answer is A .
• Question 967: The quality of money that describe its uniformity is Options:
  A) recognizability
  B) durability
  C) portability
  D) homogeneity
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  The correct answer is D .
• Question 968: In the channel of distribution, which of the following sets is entirely made up of middlemen? Options:
  A) Wholesalers, retailers and agents
  B) Manufacturers, consumers and retailers
  C) Wholesalers, agents and consumers
  D) Retailers, manufacturers and wholesalers
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  The correct answer is A .
• Question 969: A historical building is a feature of? Options:
  A) cultural tourism
  B) industrial tourism
  C) agricultural tourism
  D) ecological tourism
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  The correct answer is A .
• Question 970:

  The difference between a country's imports and exports of goods in a particular year is

  Options:
  A) terms of trade
  B) terms of payment
  C) balance of payment
  D) balance of trade
  Show Answer
  The correct answer is C .