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 1291: A wholesaler who possesses the title of goods he sells is known as? Options:
  A) a merchant wholesaler
  B) a multiple wholesaler
  C) a general wholesaler
  D) an agent wholesaler
  Show Answer
  The correct answer is A .
• Question 1292:

  A company which issues a promissory note in lieu of payment for goods purchased

  Options:
  A) Is not bound to renew the note before payment
  B) Can return the goods purchased and refuse to pay
  C) Can refuse to pay on due date since it is only a promise
  D) Is bound to redeem the note for cash on due date
  Show Answer
  The correct answer is D .
• Question 1293:

  The issue of prospectus by a company is an invitation to members of the public to

  Options:
  A) subscribe to the company's shares
  B) attend the company's Annual general Meeting
  C) buy the company's products
  D) attend the company's board meeting
  Show Answer
  The correct answer is A .
• Question 1294:

  A document which entitles its holder to the gods named on it, which is stored in a specific warehouse is called________

  Options:
  A) Debit note
  B) Credit note
  C) Warrant
  D) Shipping note
  Show Answer
  The correct answer is C .
• Question 1295: The main function of thrift, credit and loans co-operative societies is to Options:
  A) educate their members
  B) collect money from their members
  C) disburse money to their members
  D) raise investment finance among thir members
  Show Answer
  The correct answer is D .
• Question 1296:

  Which of the following is not a component of the marketing mix?

  Options:
  A) product
  B) production
  C) promotion
  D) place
  Show Answer
  The correct answer is B .
• Question 1297: What is the reward accruable to land? Options:
  A) Rent
  B) profits
  C) wages
  D) Interest
  Show Answer
  The correct answer is A .
• Question 1298: Good and services are made available to consumers through Options:
  A) the channnel of distribution
  B) sales promotion
  C) the advertising agency
  D) the middle men
  Show Answer
  The correct answer is A .
• Question 1299:

  Ojo's Balance Sheet as at 31st December, 2006
  	₦		₦
  Capital	10,000	Land and building	12,000
  Drawings	600	Fittings	850
  	9,400	Motor vans	1,600
  Profit	6,200	Cash	2,150
  	15,600	Prepayments	700
  Creditors	1,800	Debtors	100
  	17,400		17,400

  10% IS CHARGED ON DEPRECIATION OF FIXED ASSETS

  Determine the value of Ojo's fixed assets

  Options:
  A) ₦14450
  B) ₦13450
  C) ₦13005
  D) ₦12005
  Show Answer
  The correct answer is A .
• Question 1300: Th overriding objective of the food and drug act in Nigeria is too prevent the Options:
  A) importation of food and drug that can be locally manufactured
  B) consumption of food and drug not tested by the minitries of health
  C) adulteration of food and drug sold in the country
  D) manufactures of food and drug from charging excessive prices
  Show Answer
  The correct answer is D .