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 1301: 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 1302:

  Land as a factor of production does not vary in

  Options:
  A) cost
  B) quality
  C) quantity
  D) nature
  Show Answer
  The correct answer is C .
• Question 1303: One of the reasons why wholesaling must continue is that? Options:
  A) the tax paid by wholesalers on their profit enhances national revenue
  B) by creating artificial scarcity, the wholesaler is enhencing competition
  C) the wholesaler provides technical advice to the retailer
  D) the gap between manufacturers and retailers is reduce byn wholesalers
  Show Answer
  The correct answer is D .
• Question 1304: A government policy that encourages transfer of ownership from foreigners to indigenes of the country is known as ____? Options:
  A) nationalisation
  B) privatisation
  C) indigenisation
  D) commercialisation
  Show Answer
  The correct answer is C .
• Question 1305: The main objective of a trade association is to Options:
  A) protect its members against litigation
  B) boost the trade of its members
  C) secure credit for its members
  D) protect its members against victimization
  Show Answer
  The correct answer is D .
• Question 1306:

  The agency that currently oversees the privatization and commercialization process in Nigeria is the

  Options:
  A) Securities and Exchange Commission
  B) Technical Committee on privatization and commercialization
  C) Nigeria Stock Exchange
  D) Bureau of Republic Enterprises
  Show Answer
  The correct answer is D .
• Question 1307: Tourists with no fixed address in a town may receive their letters from the post office through a Options:
  A) recorded delivery
  B) poste restante
  C) parcel post
  D) postmaster
  Show Answer
  The correct answer is B .
• Question 1308:

  Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

  	₦		₦
  Opening stock Purchase	1000 7000	Sales	8000
  Closing Stock	3000

  Trading Expenses

  Electricity Salaries Rent Depreciations

  ₦ 135 875 180 210

  From the figures given, calculate

  Net profit

  Options:
  A) 1400
  B) 5000
  C) 1600
  D) 6400
  Show Answer
  The correct answer is C .
• Question 1309:

  Examples of Commercial occupation are all except___________

  Options:
  A) Bankers
  B) Traders
  C) Insurers
  D) Goldsmith
  Show Answer
  The correct answer is D .
• Question 1310: The essential utility derived from the use of a product is known as Options:
  A) augmented benefit
  B) branded benefit
  C) core benefit
  D) formal benefit
  Show Answer
  The correct answer is C .