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 11:

  Bank overdraft as a short term source of fund is

  Options:
  A) A current liability
  B) An overdrawn account
  C) Grade to a newly opened account
  D) Repayable after more than a year
  Show Answer
  The correct answer is A .
• Question 12: When expenses on trading are deducted, the result is the Options:
  A) rate of turn over
  B) net profit
  C) gross profit
  D) cost of goods sold
  Show Answer
  The correct answer is B .
• Question 13: In international trade, documentary credit is also known as? Options:
  A) credit note
  B) letters of credit
  C) bankers' note
  D) letter of hypothecation
  Show Answer
  The correct answer is B .
• Question 14: Extractive industries may also be denominated as Options:
  A) direct industries
  B) servicing industries
  C) primary industries
  D) indirect industries
  Show Answer
  The correct answer is C .
• Question 15:

  All harbours, docks and waterways of Nigeria are looked after by a public corporation called the

  Options:
  A) Nigerian Police Authority
  B) Nigerian Ports Authority
  C) National Ports Authority
  D) National Police Authority
  Show Answer
  The correct answer is B .
• Question 16:

  The communication aspect of the marketing mix is

  Options:
  A) Price
  B) Promotion
  C) Place
  D) Product
  Show Answer
  The correct answer is B .
• Question 17: Recognized members of the Stock Exchange who buy and sell securities on their own behalf are known as ? Options:
  A) bulls
  B) jobbers
  C) brokers
  D) stags
  Show Answer
  The correct answer is B .
• Question 18: The main requirement for admission to the second-tier securities markets is the? Options:
  A) provision of a three-year trading record
  B) disclosure of all trading activities
  C) creation of a good atmosphere for growth and development
  D) guranteeing dividends to shareholders
  Show Answer
  The correct answer is B .
• Question 19: Citizens are against privatization mainly because of? Options:
  A) the rationalization of organizations
  B) increased prices of goods and services
  C) the likelihood of monopoly
  D) ineffective management
  Show Answer
  The correct answer is B .
• Question 20: The document issued by a port authority for goods deposited is a Options:
  A) bill of lading
  B) bill of sight
  C) consular invoice
  D) warehouse warrant
  Show Answer
  The correct answer is D .