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 country is said to be experiencing an unfavorable balance of trade if her Options:
  A) exports exceed imports
  B) visible exports exceed visible imports
  C) imports and exports are equal
  D) visible imports exceed visible exports
  Show Answer
  The correct answer is D .
• Question 2:

  The major objective of corporate mergers is to?

  Options:
  A) minimize the effect of taxation
  B) increase financial advantage
  C) enhance economies of sale
  D) facilitate profit maximization
  Show Answer
  The correct answer is C .
• Question 3: The instruments of credit includes? Options:
  A) billboards and postal stamps
  B) payment vouchers and statement of account
  C) bills of exchange and promissory notes
  D) bills of exchange and salary salary vouchers
  Show Answer
  The correct answer is C .
• Question 4: A core investor in the current phase of privatization in Nigeria is one who? Options:
  A) can afford to buy most of the shares of the enterprises
  B) will be at the core of the enterprises
  C) can mobilize foreign currency equivalent to the value of the enterprises
  D) has the technical know-how of the enterprises
  Show Answer
  The correct answer is A .
• Question 5: When an oil exploring and mining company builds a health centre in one community where at operates, such a company is Options:
  A) Carrying favour from local people
  B) finding a way to spend excess profit
  C) Fulfilling part of its social responsibility
  D) Investing its idle fund
  Show Answer
  The correct answer is C .
• Question 6: An example of a cartel is? Options:
  A) OPEC
  B) ECOWAS
  C) AU
  D) EU
  Show Answer
  The correct answer is A .
• Question 7:

  Use the information below to answer questions 13 and 14

  	#
  Sales	50,000.00
  Debtors	10,000.00
  Cash in hand	5,000.00
  Opening stock	30,000.00
  Creditors	8,000.00
  Purchases	16,000.00
  Overdraft	12,000.00
  Closing stock	10,000.00

  Options:
  A) #35,000.00
  B) #20,000.00
  C) #15,000.00
  D) #14,000.00
  Show Answer
  The correct answer is D .
• Question 8: One of the functions of the Nigeria Ports Authority is the provision of? Options:
  A) facilities to enhance the speedy loading and offloading of cargoes
  B) facilities to ensure that goods get to their destinations
  C) shelter for operators of cargoes
  D) courier services to ensure speedy delivery
  Show Answer
  The correct answer is A .
• Question 9: The most important concept on production is? Options:
  A) utility
  B) wealth creation
  C) transformation
  D) distribution
  Show Answer
  The correct answer is A .
• Question 10: Public debt management is one of the functions of a? Options:
  A) merchant bank
  B) central bank
  C) commercial bank
  D) development bank
  Show Answer
  The correct answer is B .