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 1851: Any activity directed at conveying commodities to buyers is an aspect _________ Options:
  A) selling
  B) delivering
  C) advertising
  D) marketing
  Show Answer
  The correct answer is B .
• Question 1852: Which of the following is used for temporary storage of data on a computer? Options:
  A) RAM
  B) ROM
  C) Floppy disk
  D) flash drive
  Show Answer
  The correct answer is A .
• Question 1853:

  

  From the diagram above, what does I stand for?

  Options:
  A) Aids to trade
  B) Publicity
  C) Home trade
  D) Advertising
  Show Answer
  The correct answer is A .
• Question 1854: Which Commerce Question Paper is given to you? Options:
  A) Type A
  B) Type B
  C) Type C
  D) Type D
  Show Answer
  The correct answer is B .
• Question 1855: The difference between the total payments for imports and the receipts from exports within a given period is referred to as Options:
  A) balance of payments
  B) balance of trade
  C) comparative cost advantage
  D) comparative advantage
  Show Answer
  The correct answer is A .
• Question 1856: The buying and selling of goods and services is referred to as Options:
  A) trading
  B) marketing
  C) insurance
  D) advertising
  Show Answer
  The correct answer is A .
• Question 1857: One of the functions of the retailer is Options:
  A) granting credit facilities to close relatives
  B) provision of after - sales services
  C) branding and packaging of goods
  D) warehousing of goods
  Show Answer
  The correct answer is B .
• Question 1858: The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called Options:
  A) subrogation
  B) contribution
  C) re-insurance
  D) indemnity
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  The correct answer is C .
• Question 1859: Personal selling is used for the purpose of? Options:
  A) establishing the company
  B) providing information
  C) creating product awareness
  D) given financial assistance
  Show Answer
  The correct answer is C .
• Question 1860:

  Given:
  Opening stock: ₦40 000
  Purchases: ₦115 000
  Closing stock: ₦60 000
  Sales: ₦250 000

  What is the cost of goods sold?

  Options:
  A) ₦155 000
  B) ₦95 000
  C) ₦50 000
  D) ₦30 000
  Show Answer
  The correct answer is B .