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 1401: The business environment that takes into cognizance the age distribution ethnic mix and educational level of the consumer is Options:
  A) Natural Environment
  B) Cultural environment
  C) Economic environment
  D) Demographic Environment
  Show Answer
  The correct answer is D .
• Question 1402: One of the disadvantages of a sole proprietorship is? Options:
  A) secrecy of annual reports
  B) pride of ownership
  C) limited liability
  D) unlimited liability
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  The correct answer is D .
• Question 1403: A major merit of the retaining middlemen is to _______ Options:
  A) pay cash to the bank: for manufacturers
  B) stock perishable goods
  C) regulate price for manufacturers
  D) stock goods produced by different manufacturer
  Show Answer
  The correct answer is D .
• Question 1404:

  Examples of current assets are

  Options:
  A) cash and trade debtors
  B) cash and trade creditors
  C) trade debtors, trade creditors and cash
  D) trade creditors and trade debtors
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  The correct answer is A .
• Question 1405: The role of customs and exercise authority includes the Options:
  A) control of the flow of goods in and out of the country
  B) control of security agents within and out of the borders
  C) provision of dockyards for ship repairs and maintenance
  D) provision of transport system to facilitate imports and exports
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  The correct answer is A .
• Question 1406: A shop which consist of many stores trading under a single roof and which stocks varieties of goods with each unit having its own head is a? Options:
  A) mulitple shop
  B) supermarket
  C) superstore
  D) departmental store
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  The correct answer is D .
• Question 1407:

  In Nigeria, the ministry in charge of registering trade association is that of

  Options:
  A) Culture and tourism
  B) Finance
  C) Industries
  D) Commerce
  Show Answer
  The correct answer is D .
• Question 1408: The major objective of corporate mergers is to Options:
  A) minimize the effects of taxation
  B) increase financial advantage
  C) faclitate profit maximization
  D) enhance economies of scale
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  The correct answer is D .
• Question 1409: The pricing policy that seeks to set prices relatively high in order to attract the wealthy segment of the market is Options:
  A) target return pricing
  B) market skimming
  C) variable pricing
  D) market penetration
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  The correct answer is B .
• Question 1410:

  The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

  Initial Capital	5000
  Net Profit	1000
  Furniture	2000
  Equipment	2900
  Debtors	100
  Stock	1000
  Bank	500

  From the above, calculate Current liabilities

  Options:
  A) 100
  B) 6000
  C) 600
  D) 3000
  Show Answer
  The correct answer is C .