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 1111: Funds used for paying wages, salaries and payments for raw materials are categorized under Options:
  A) liquid capital
  B) circulating capital
  C) fixed capital
  D) nominal capital
  Show Answer
  The correct answer is B .
• Question 1112: A bus driver operating between Lagos and Jos pledged the owner's credit in Benin in order to have the engine repaired and the bill sent to the owner.This is a case of Options:
  A) del credere agency
  B) agency by necessity
  C) agency by rafication
  D) agency by estoppel
  Show Answer
  The correct answer is B .
• Question 1113: Which of the following gives the correct order in which the listed documents are used? Options:
  A) debit note, order, delivery note, invoice and statement
  B) order, delivery note, invoice, debit note and statement
  C) statement, order, invoice, delivery note and debit note
  D) invoice, order, statement, debit note and delivery note
  Show Answer
  The correct answer is B .
• Question 1114: Money is generally accepted for transactions due to Options:
  A) the legal backing
  B) the rule of law
  C) its acceptability in the global market
  D) the Central Bank Governor's signature
  Show Answer
  The correct answer is A .
• Question 1115:

  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 1116: 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 .
• Question 1117: Which of the following is an item in the marketing mix? Options:
  A) Demand
  B) promotion
  C) market
  D) consumer
  Show Answer
  The correct answer is B .
• Question 1118:

  The macro-environmental forces and trends which are a constraint on business operations are referred to as

  Options:
  A) internal factors
  B) technological factors
  C) economic factors
  D) external factors
  Show Answer
  The correct answer is D .
• Question 1119: The bank that discount bills of exchange is the? Options:
  A) central bank
  B) mortage bank
  C) development bank
  D) comercial bank
  Show Answer
  The correct answer is D .
• Question 1120: 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 .