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 1681: Management of a business involves the development of ideas for the Options:
  A) distribution of goods and services that human wants
  B) transportation of goods and services that human wants
  C) transfer of title of ownership of goodsand services to individuals
  D) production of goods and services that satisfy human needs
  Show Answer
  The correct answer is D .
• Question 1682: A pro forma invoice is NOT required when Options:
  A) quoting for the supply of goods
  B) goods are sent on approval
  C) dealing regularly with a customer
  D) final prices are uncertain
  Show Answer
  The correct answer is C .
• Question 1683: The significance of money to modern economic system is that it? Options:
  A) is used as a means of payment
  B) promotes specialization and exchange
  C) measures value and promotes exchange
  D) causes inflation in the economy
  Show Answer
  The correct answer is C .
• Question 1684: An example of an activity in the construction industry is Options:
  A) blacksmithing
  B) bricklaying
  C) car assembling
  D) shoemaking
  Show Answer
  The correct answer is C .
• Question 1685: Construction activities include the building of houses and roads as well as Options:
  A) brick laying
  B) shoe making
  C) black smithing
  D) car assembling
  Show Answer
  The correct answer is A .
• Question 1686: In Nigeria, the ministry in charge of registering trade associations is that of? Options:
  A) industries
  B) commerce
  C) culture and tourism
  D) finance
  Show Answer
  The correct answer is B .
• Question 1687: In product pricing, which of these elements need more consideration than others? Options:
  A) The cost of producing the product
  B) The economic conditions in the market
  C) the demography of the buyers of the product
  D) The demand for the product
  Show Answer
  The correct answer is A .
• Question 1688: Aliyu bought 100 shares at the stock market through a stockbroker. He was told the price each share was N3 cum. div. This means that Aliyu Options:
  A) is entitled always to a cumulative dividends accruing from the shares
  B) is entitled to the next dividends due to the shares
  C) will not be entitled to the next dividends due to the shares
  D) still owes N3 on the shares which will be subtracted from the dividends
  Show Answer
  The correct answer is B .
• Question 1689: An announcement of a person's willingness to enter into a contract is referred to as? Options:
  A) a proxy
  B) an offer
  C) a consideration
  D) an acceptance
  Show Answer
  The correct answer is B .
• Question 1690: The circulating capital of a business enterprise is classified into? Options:
  A) cash, work-in-progress and debtors
  B) cash,vehicles, land and buildings
  C) debtors , stock of raw materials and fittings
  D) pre-payments, debtors and equipment
  Show Answer
  The correct answer is A .