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 1: A computer accessory through which information can be retrieved is the Options:
  A) hard disk
  B) input device
  C) control unit
  D) floppy disk
  Show Answer
  The correct answer is D .
• Question 2: Entrepot trade usually occurs in? Options:
  A) exchanging goods within a nation
  B) exchanging goods among countries
  C) importing goods to be re-exproted
  D) exproting goods to be re-imported
  Show Answer
  The correct answer is C .
• Question 3: Activities undertaken to create awareness for goods by conducting contest is? Options:
  A) marketing concept
  B) consumerism
  C) sales promotion
  D) marketing mix
  Show Answer
  The correct answer is C .
• Question 4:

  The provision of services is classified under

  Options:
  A) batch production
  B) flow production
  C) secondary production
  D) tertiary production
  Show Answer
  The correct answer is D .
• Question 5: The legal aspect of business is designed to Options:
  A) protect business organization and consumers
  B) safeguard consumers from undue business practices
  C) protect infant industries from collapse
  D) encourage free exchanges among businesses
  Show Answer
  The correct answer is A .
• Question 6: An example of extractive occupation is ______ Options:
  A) mining
  B) teaching
  C) banking
  D) driving
  Show Answer
  The correct answer is A .
• Question 7: The three components of a country's balance of payments are? Options:
  A) current account, capital account and monetary movement account
  B) capital account, trade account and business record
  C) sales account, profit and loss account and capital account
  D) monetary movement account, trade account and sales ledger
  Show Answer
  The correct answer is A .
• Question 8: A partnership is dissolved due to ________ Options:
  A) liquidity of the firm
  B) death of the employee
  C) insanity of a partner
  D) resignation of an employee
  Show Answer
  The correct answer is C .
• Question 9:

  The basic characteristics of co-operative society include all except one

  Options:
  A) It is managed democratically
  B) It follows the principle of one man
  C) Amateur Management
  D) Extra capital is raised through loan
  Show Answer
  The correct answer is C .
• Question 10:

  One disadvantages of advertising is that it

  Options:
  A) could be misleading
  B) decreases sales
  C) reduces profit
  D) causes over stocking
  Show Answer
  The correct answer is A .