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:

  The document with which a manufacturing enterprises releases stock of raw materials to the factory for product is called?

  Options:
  A) stock releases form
  B) goods received note
  C) stock issues voucher
  D) materials release note
  Show Answer
  The correct answer is C .
• Question 2: Inventory control is an aspect of a Options:
  A) operations research
  B) materials management
  C) C the organizing function
  D) D span of control
  Show Answer
  The correct answer is B .
• Question 3: The most important function of commerce is in? Options:
  A) enhancing business relationships
  B) helping people to improve their profits
  C) facilitating exchange among individuals and firms
  D) assisting trade through banking and insurance
  Show Answer
  The correct answer is C .
• Question 4: Poor sewage disposal, oil spill and indiscriminate refuse dumping all lead to? Options:
  A) land pollution
  B) water pollution
  C) land and water pollution
  D) air and water pollution
  Show Answer
  The correct answer is C .
• Question 5: The body regulating the sale and purchase of shares in Nigeria is the Options:
  A) Corporate affair commission
  B) Securities and exchange commission
  C) Securities and exchange tribunal
  D) Nigerian stock exchange
  Show Answer
  The correct answer is B .
• Question 6: Secondary production has to do with changing the? Options:
  A) shape of raw materials through construction operations
  B) physical form of raw materials into finished goods
  C) utility of raw materials by an engineering process
  D) nature of raw materials through manufacturing processes
  Show Answer
  The correct answer is B .
• Question 7: The term 4 net 7 on an invoice means that? Options:
  A) 4% surcharge will be made unless payment iss made within seven days
  B) 4% discount will be allowed on the price charged only if the goods are bought within seven days
  C) 4% discount will be allowed on the price charged only if payment is made after seven days
  D) 4% discount will be allowed on the price charge if payment is made within seven days
  Show Answer
  The correct answer is D .
• Question 8: The fees charged on postal order by the post office is _____? Options:
  A) interest
  B) brokerage
  C) poundage
  D) premium
  Show Answer
  The correct answer is C .
• Question 9: Which of the following is a development bank in Nigeria? Options:
  A) Union Bank Plc
  B) First Bank Plc
  C) First City Monument Bank
  D) Federal Mortgage Bank
  Show Answer
  The correct answer is D .
• Question 10:

  

  What is the capital employed?

  Options:
  A) N 200 000
  B) N 340 000
  C) N 170 000
  D) N 300 000
  Show Answer
  The correct answer is D .