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 2011:

  Which of the following attracts only interest but leaves the capital unpaid?

  Options:
  A) uberrimae fidei
  B) subrogation
  C) contribution
  D) redeemable bond
  Show Answer
  The correct answer is D .
• Question 2012:

  The primary memory component of a computer is the

  Options:
  A) console
  B) cache
  C) compliers
  D) assemblers
  Show Answer
  The correct answer is B .
• Question 2013: Most of the barriers to international trade have been eliminated through? Options:
  A) diversification
  B) globalization
  C) commercialization
  D) privatization
  Show Answer
  The correct answer is B .
• Question 2014:

  Use the information below to answer questions 13 and 14

  	#
  Sales	50,000.00
  Debtors	10,000.00
  Cash in hand	5,000.00
  Opening stock	30,000.00
  Creditors	8,000.00
  Purchases	16,000.00
  Overdraft	12,000.00
  Closing stock	10,000.00

  Options:
  A) #35,000.00
  B) #20,000.00
  C) #15,000.00
  D) #14,000.00
  Show Answer
  The correct answer is D .
• Question 2015: 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 2016: Ships used for international transport are? Options:
  A) trawelers
  B) yachets
  C) ocean liners
  D) launchers
  Show Answer
  The correct answer is C .
• Question 2017: The Nigerian Telecommunications Limited is a? Options:
  A) jointly owned company
  B) public corpoation
  C) privately owned company
  D) public company
  Show Answer
  The correct answer is B .
• Question 2018: The creation of utilities is to satisfy human wants is referred to as? Options:
  A) production
  B) consumption
  C) industrialization
  D) occupation
  Show Answer
  The correct answer is A .
• Question 2019: The basis for international trade is embedded in the principle of Options:
  A) absolute advantage
  B) globalization
  C) deregulation
  D) comparative advantage
  Show Answer
  The correct answer is D .
• Question 2020:

  The marketing concept emphasizes

  Options:
  A) sales of goods directly to customers
  B) use of promotional tools to stimulate sale
  C) mass production of goods
  D) consumer's satisfaction at a profit
  Show Answer
  The correct answer is D .