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: The assembling of products into usable forms is known as? Options:
  A) construction
  B) manufacturing
  C) formation
  D) creation
  Show Answer
  The correct answer is A .
• Question 112: An instrument that is traded i the second-tier foreign exchange market is? Options:
  A) money order
  B) stock
  C) travellers' cheque
  D) debenture
  Show Answer
  The correct answer is B .
• Question 113: 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 114: The type of labour that makes use of physical effort in production processes is the Options:
  A) unskilled labour
  B) skilled labour
  C) blue-collar job
  D) white-collar job
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  The correct answer is A .
• Question 115: The breaking down of a market into separate and identifiable elements is known as Options:
  A) differentiation
  B) segmentation
  C) skimming
  D) penetration
  Show Answer
  The correct answer is B .
• Question 116: One of the major determinants of the volume of production is Options:
  A) the market size
  B) the availability of banks
  C) sex distribution
  D) government policy
  Show Answer
  The correct answer is A .
• Question 117: The main aim of selling directly to consumers by manufactures is to Options:
  A) dis courage the activities of middlemen
  B) make contacts with comsumers
  C) eliminate transportation cost
  D) maximize the profit margin
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  The correct answer is A .
• Question 118: An aspect of marketing that stimulates buying by providing free gifts is? Options:
  A) advertising
  B) personal selling
  C) publicity
  D) sales promotion
  Show Answer
  The correct answer is D .
• Question 119: An undertaking given by a person to another assuring his integrity is Options:
  A) proximate cause
  B) fidelity quarantee
  C) subrogation
  D) insurable interest
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  The correct answer is B .
• Question 120:

  Given:
  Opening stock: ₦40 000
  Purchases: ₦115 000
  Closing stock: ₦60 000
  Sales: ₦250 000

  What is the cost of goods sold?

  Options:
  A) ₦155 000
  B) ₦95 000
  C) ₦50 000
  D) ₦30 000
  Show Answer
  The correct answer is B .