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 1651: An example of a trade association is? Options:
  A) ALGON
  B) NLC
  C) NURTW
  D) NULGE
  Show Answer
  The correct answer is A .
• Question 1652:

  A document that embody the conditions and exceptions attached to the contract is

  Options:
  A) proposal form
  B) cover note
  C) the policy
  D) insurance certificate
  Show Answer
  The correct answer is C .
• Question 1653: A major benefit derivable from the privatization and commercialization of public enterprises in Nigeria is? Options:
  A) increase in wages
  B) employment generation
  C) information technology
  D) revenue generation
  Show Answer
  The correct answer is D .
• Question 1654: An advantage of hire purchase to the consumer is the? Options:
  A) economies of scale in production
  B) possession of goods before payment
  C) increase in turnover and profit
  D) low interest rate chargeable
  Show Answer
  The correct answer is B .
• Question 1655: 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
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  The correct answer is D .
• Question 1656: Trading on the stock exchange in anticipation of price change in the market value of shares is? Options:
  A) speculation
  B) forecasting
  C) expectation
  D) projection
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  The correct answer is A .
• Question 1657: The acronym PLC is used to identify a? Options:
  A) company limited by shares
  B) private company limited by shares
  C) public company limited by shares
  D) company limited by guarantee
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  The correct answer is C .
• Question 1658: A carton of noodles valued at #2,000 was invoiced at #200 only.The accounting procedure to correct this error is to issue Options:
  A) an invoice for #200
  B) a debit note for #2,00
  C) a credit note for #1,800
  D) a debit note for #1,800
  Show Answer
  The correct answer is D .
• Question 1659: The Customs and Excise Department is responsible for the the collection of? Options:
  A) royalties
  B) tariffs
  C) taxes
  D) charges
  Show Answer
  The correct answer is B .
• Question 1660: The Nigerian Stock Exchange publishes a daily official list that gives full information on the? Options:
  A) method of transation agreed to by members
  B) number of participating members in a day
  C) changes in the prices and earnings of securities
  D) changes in the official rules set by the market
  Show Answer
  The correct answer is C .