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 1081: When expenses on trading are deducted, the result is the Options:
  A) rate of turn over
  B) net profit
  C) gross profit
  D) cost of goods sold
  Show Answer
  The correct answer is B .
• Question 1082: The computer using linear integrated circuit technology coupled with quantification of data in terms of length and distance is known as? Options:
  A) digital computer
  B) analogue computer
  C) mainframe computer
  D) hybrid computer
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  The correct answer is A .
• Question 1083: The concept which focuses on consumers in decision-making is? Options:
  A) selling concept
  B) marketing concept
  C) product concept
  D) production concept
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  The correct answer is B .
• Question 1084:

  The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is

  Options:
  A) uberrimae fidei
  B) subrogation
  C) contribution
  D) proximate cause
  Show Answer
  The correct answer is A .
• Question 1085: The promotion of team spirit in an organization is referred to as Options:
  A) unity of direction
  B) espirit de corps
  C) unity of purpose
  D) discipline
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  The correct answer is B .
• Question 1086:

  Nigerian Police Authority

  Options:
  A) Nigerian Police Authority
  B) Nigerian Ports Authority
  C) National Ports Authority
  D) National Police Authority
  Show Answer
  The correct answer is B .
• Question 1087: Which of the following involves foreign trade ? Options:
  A) supermarket
  B) Chain stores
  C) Departmental stores
  D) commodity markets
  Show Answer
  The correct answer is D .
• Question 1088: A document which advertise the shares of a company is known as a? Options:
  A) memorandum of satisfaction
  B) dividend warrant
  C) deed
  D) prospectus
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  The correct answer is D .
• Question 1089: In the Nigerian GSM industry,a parliament is organized by the Nigerian Communications Commission in order to Options:
  A) increase profit of service providers
  B) protect the interest of government
  C) encourage more people into the business
  D) protect the interest of consumers
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  The correct answer is D .
• Question 1090: The scope of commerce is limited to ________ Options:
  A) wholesale and entrepot trade
  B) trade and aids-to-trade
  C) wholesale and retail trade
  D) home and foreign trade
  Show Answer
  The correct answer is B .