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 131: Second-tier Securities Market differ from the First-tier Securities Market in that the former is? Options:
  A) highly restricted
  B) regulated by the SEC
  C) regulated by the NIPC
  D) less restricted
  Show Answer
  The correct answer is A .
• Question 132: The document lodged with the customs authorities before a ship can leave the port is a Options:
  A) shipping note
  B) ship report
  C) ship manifest
  D) dock warrant
  Show Answer
  The correct answer is C .
• Question 133: If Mr. Bacus fulfills his promise, he will be entitled to a cash discount of? Options:
  A) N2,760
  B) N3,000
  C) 6,500
  D) 9,500
  Show Answer
  The correct answer is B .
• Question 134: After registration, a certificate of trading is usually issued to a Options:
  A) partnership
  B) public company
  C) private company
  D) sole proprietorship
  Show Answer
  The correct answer is B .
• Question 135: A type of long-term loan granted to companies with fixed interest as well as with redeemable and irredeemable features is referred to as? Options:
  A) a denbenture
  B) a bond
  C) a term loan
  D) an overdraft
  Show Answer
  The correct answer is A .
• Question 136: A loan to a customer with a cheque account at a bank in which the account is allowed to go into debit is Options:
  A) overdraft
  B) advance
  C) interest
  D) commission
  Show Answer
  The correct answer is A .
• Question 137: Which of the following must be present in an agency by agreement? Options:
  A) intentions
  B) will
  C) consent
  D) authority
  Show Answer
  The correct answer is A .
• Question 138:

  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

  Percentage of net profit to turnover

  Options:
  A) 30%
  B) 5%
  C) 10%
  D) 20%
  Show Answer
  The correct answer is D .
• Question 139:

  Which of the following are the components of commerce?

  I Trading and advertising

  II Warehousing and transportation

  III Packaging and branding

  IV Insurance and banking

  Options:
  A) I and II
  B) I and III
  C) I, II and IV
  D) II, III and IV
  Show Answer
  The correct answer is C .
• Question 140: Land as a factor of production does not vary in _______ Options:
  A) quantity
  B) nature
  C) quality
  D) cost
  Show Answer
  The correct answer is B .