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 1061:

  Factors considered when setting up a retail business is one of the following

  Options:
  A) capital, experience and trading
  B) experience, term of trade and trading
  C) capital, trading and term of trade
  D) capital, type of goods and source of supply
  Show Answer
  The correct answer is D .
• Question 1062:
  

  What are fixtures and fittings in a balance sheet?

  Options:
  A) liquid capital
  B) current assets
  C) fixed assets
  D) working capital
  Show Answer
  The correct answer is C .
• Question 1063: What is the most important use of promotion in marketing? Options:
  A) Persuasion
  B) Conviction
  C) Information
  D) Education
  Show Answer
  The correct answer is C .
• Question 1064:

  An abridged version of a company's income statement for 11993 contains the following information:

  Turnover N286.5

  Cost of goods sold N147.5

  Overhead and other expenses N85.5

  Taxes due for the year N26.9

  What was the company's profit before tax for 1993?

  Options:
  A) 26.9 million
  B) 53.5 million
  C) 139.2 million
  D) 286.5 million
  Show Answer
  The correct answer is B .
• Question 1065:

  The last link in a channel of distribution is the

  Options:
  A) wholesaler
  B) retailer
  C) consumer
  D) agent
  Show Answer
  The correct answer is C .
• Question 1066: Which of the statements below is true of Mr Abayomi? Options:
  A) He can assign his shares to another without consent of other partners
  B) He cannot take part in the management of the business
  C) His actions as a limited partner can bind the firm
  D) His death will automatically dissolve partnership
  Show Answer
  The correct answer is C .
• Question 1067: Initial public offering is undertaken through the? Options:
  A) secondary securities market
  B) first-tier securities market
  C) primary securities
  D) second-tier securities market
  Show Answer
  The correct answer is B .
• Question 1068: The three main classification of occupation are? Options:
  A) construction, trade and services
  B) manufacturing, industry and services
  C) farming, banking and trading
  D) industry, commerce and services
  Show Answer
  The correct answer is D .
• Question 1069:

  Which of the following legislation aims primarily at the protection of consumers?

  Options:
  A) Company's Act
  B) Partnership Act
  C) Trade Description Act
  D) Law of contract
  Show Answer
  The correct answer is C .
• Question 1070: What is the role of the capital market in the privatization exercise in Nigeria? Options:
  A) Selling the shares and stocks of the companies to be privatized
  B) Encouraging private companies to participate in the exercise
  C) Negotiating with individuals who want to buy public companies
  D) Advertising for governement
  Show Answer
  The correct answer is A .