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 111: Enter pot trade is said to have taken place when goods are? Options:
  A) held at the port payment of custom duty
  B) sold in the ship under special regulation
  C) imported and then re-export
  D) kept for further processing before sales
  Show Answer
  The correct answer is C .
• Question 112: A major factor that affects business operations is Options:
  A) technology
  B) supply
  C) product
  D) rivalry
  Show Answer
  The correct answer is A .
• Question 113: Most of the barriers to international trade have been eliminated through? Options:
  A) diversification
  B) globalization
  C) commercialization
  D) privatization
  Show Answer
  The correct answer is B .
• Question 114: The type of letters that are delivered through the normal mail or by airmail express service is referred to as Options:
  A) inland letters
  B) registered letters
  C) airmail letters express letters
  D) express letters
  Show Answer
  The correct answer is C .
• Question 115: A close indent is an instrument to an agent to Options:
  A) order goods from a particular manufacturer
  B) order goods from any manufacturer
  C) sell gods to any firm
  D) sell goods to a certain firm
  Show Answer
  The correct answer is A .
• Question 116: A communication process providing information for decision-making in an organization is the? Options:
  A) Management information System
  B) Transmission Control Protocol
  C) Information Retrieval System
  D) File Transfer Protocol
  Show Answer
  The correct answer is C .
• Question 117: A feature common to privatization and commercialization is? Options:
  A) profit-making
  B) credit sales
  C) market expansion
  D) price increases
  Show Answer
  The correct answer is A .
• Question 118: A feature common to privatization and commercialization is? Options:
  A) profit-making
  B) credit sales
  C) market expansion
  D) price increases
  Show Answer
  The correct answer is A .
• Question 119: The role of customs and exercise authority includes the Options:
  A) provision of a good transport system to facilitate imports and exports
  B) provision of security at the port
  C) control of the flow of goods in and out of the country
  D) provision of dockyards for ship repairs
  Show Answer
  The correct answer is C .
• Question 120:

  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 .