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: One important requirement for the membership of the ECOWAS is? Options:
  A) intergrity
  B) independence
  C) landmass
  D) population
  Show Answer
  The correct answer is B .
• Question 2: A business firm that is involved in conveying goods or people is known as a? Options:
  A) consignor
  B) commercial firm
  C) carrier
  D) transporter
  Show Answer
  The correct answer is C .
• Question 3:

  The function of management that establish objectives for the organization and trying to determine the best ways to accomplish them

  Options:
  A) organizing
  B) planning
  C) directing
  D) controlling
  Show Answer
  The correct answer is B .
• Question 4: When an industry or company is nationalized, the state becomes Options:
  A) the major shareholder
  B) the mini shareholder
  C) the only shareholder
  D) an equal shareholder with other individuals
  Show Answer
  The correct answer is C .
• Question 5: A collective term for advertising, personal selling and publicity is? Options:
  A) exhibition
  B) promotion
  C) trade fair
  D) merchandizing
  Show Answer
  The correct answer is A .
• Question 6:

  Use the information below to answer this question

  A B C Balance Sheet as at 31/12/2004

  ₦ Share capital 200,000 Reserves 100,000 Long term liabilities 40,000 Current liabilities 30,000 370,000

  ₦ Fixed assets 180,000 Investment 100,000 Current assets 50,000 Fictitious assets 40,000370,000

  What is the capital employed?

  Options:
  A) ₦ 340,000
  B) ₦ 200,000
  C) ₦ 300,000
  D) ₦ 170,000
  Show Answer
  The correct answer is C .
• Question 7: The document submitted to the customs authority when full description of imported goods is not provided is Options:
  A) a bill of sight
  B) an invoice
  C) an indent
  D) a bill of entry
  Show Answer
  The correct answer is C .
• Question 8:

  Which of the following countries are members of the Lake Chad Basin Commission?

  Options:
  A) Niger and Cameroon
  B) Benin and Nigeria
  C) Nigeria and Mali
  D) Chad and Benin
  Show Answer
  The correct answer is A .
• Question 9: The act of interpreting ideas within an organization is Options:
  A) motivating
  B) organizing
  C) planning
  D) communicating
  Show Answer
  The correct answer is D .
• Question 10: To meet security requirements before gaining access to data, a computer operator supplies Options:
  A) an e-mail address
  B) a yahoo address
  C) a password
  D) a modem
  Show Answer
  The correct answer is C .