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 201: One of the criteria for differentiating consumers markets from industrial ones is the Options:
  A) type of demand
  B) type of supply
  C) nature of the services rendered
  D) price of the goods
  Show Answer
  The correct answer is A .
• Question 202:

  Use the information below to answer question 14 and 15.

  Miamani Plc, whose nominal capital is made up of 5000 000 ordinary shares of 50k each, decided to offer 80% of it to the public and realized only 50% of the amount due.

  What is the company's reserve share capital?

  Options:
  A) N2500 000
  B) N4000 000
  C) N5000 000
  D) N2000 000
  Show Answer
  The correct answer is A .
• Question 203:

  The difference between a country's imports and exports of goods in a particular year is

  Options:
  A) terms of trade
  B) terms of payment
  C) balance of payment
  D) balance of trade
  Show Answer
  The correct answer is C .
• Question 204:

  The agency that currently oversees the privatization and commercialization process in Nigeria is the

  Options:
  A) Securities and Exchange Commission
  B) Technical Committee on privatization and commercialization
  C) Nigeria Stock Exchange
  D) Bureau of Republic Enterprises
  Show Answer
  The correct answer is D .
• Question 205: Tourists with no fixed address in a town may receive their letters from the post office through a Options:
  A) recorded delivery
  B) poste restante
  C) parcel post
  D) postmaster
  Show Answer
  The correct answer is B .
• Question 206: The breaking down of a market into separate and identifiable elements is known as Options:
  A) differentiation
  B) segmentation
  C) skimming
  D) penetration
  Show Answer
  The correct answer is B .
• Question 207:

  The difference between Articles of association and memorandum of Association is that the latter deals

  Options:
  A) with the Internal working relationship of the company and its members
  B) with the powers and relationships of the company with outsiders
  C) The method of issue, transfer and future of the company's shares
  D) The rights and responsibilities of shareholders
  Show Answer
  The correct answer is B .
• Question 208: A major objective of all business resources is ______ Options:
  A) public relation
  B) profit sharing
  C) human relation
  D) profit making
  Show Answer
  The correct answer is D .
• Question 209:

  One of the functions of commerical banks that cannot be performed by central banks is

  Options:
  A) collection of old notes
  B) collection of deposits from the public
  C) issuance of treasury bills
  D) printing of bank notes
  Show Answer
  The correct answer is B .
• Question 210:

  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 .