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 1621:

  Which of the following has power to order withdrawal of a particular food item from circulation?

  Options:
  A) Food and Drug Department of the Federal Ministry of Health
  B) Federal High Courts in Nigeria
  C) Standard Organization of Nigeria
  D) Local Government Health Inspectors
  Show Answer
  The correct answer is A .
• Question 1622: The main document sent to an importer of goods by the exporter are? Options:
  A) invoice, consular invoice, certificate of orign, fright note, indent and insurance policy
  B) indent, bill of lading, certificate of orign, invoice and bill of exchange
  C) certificate of orign, bill of exchange, insurance policy, indent and bill of lading
  D) bill of lading, invoice insurance policy, consular invoice, certificate of orign and bill of exchange
  Show Answer
  The correct answer is D .
• Question 1623:

  The duties paid on goods produced locally is

  Options:
  A) export duty
  B) excise duty
  C) Ad-valorem duty
  D) quota
  Show Answer
  The correct answer is B .
• Question 1624: Which of the following is a traditional medium of communication used to mark festivals? Options:
  A) Palm frond
  B) Metal gong
  C) Talking drum
  D) Gum blast
  Show Answer
  The correct answer is C .
• Question 1625: One of the major reasons for merger is to Options:
  A) reduce the number of unskilled manpower
  B) increase the number of skilled manpower
  C) prevent liquidation
  D) liberalize the market
  Show Answer
  The correct answer is C .
• Question 1626: The total of share capital which a company should be allowed to issued is known as? Options:
  A) called-up capital
  B) paid-up capital
  C) nominal capital
  D) issued capital
  Show Answer
  The correct answer is C .
• Question 1627: One major advantage of a credit and thrift cooperative is that Options:
  A) It can approach government for loan
  B) It encourages saving habit
  C) there are no legal restrictions
  D) each member has a vote during meetings
  Show Answer
  The correct answer is B .
• Question 1628: One advantage of a crossed cheque is that it can? Options:
  A) only be paud into a savings account
  B) be cashed over the bank's counter
  C) only be paid into the owner's account
  D) be cashed by anyone
  Show Answer
  The correct answer is C .
• Question 1629:

  A title, symbol, or design that distinguishes a company is called

  Options:
  A) Brand name
  B) Trademark
  C) copyright
  D) Patent right
  Show Answer
  The correct answer is B .
• Question 1630:

  Use the information below to answer question 7 and 8.

  Ojo purchased the following items from Sani at the specified prices on credit:

  200 cartons of milk at N1,000 per carton; 50 bags of rice at N3 000 per bag.

  Sani allowed 10% trade discount and 5% cash discount, if payment is made within the agreed period. Ojo paid within the agrred period.

  What was the the amount paid by Ojo?

  Options:
  A) N382,500
  B) N425,000
  C) N363,375
  D) N61,625
  Show Answer
  The correct answer is C .