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 2111: The body that organizes, promotes and participates in local and foreign trade fairs is the Options:
  A) Ministry of Commerce and Tourism
  B) Ministry of finance
  C) Chambers of Commerce
  D) Export Promotion Council
  Show Answer
  The correct answer is C .
• Question 2112: Which of the following sets of items was used for exchange in Nigeria before money was introduced? Options:
  A) cowries, iron rods, brass rods and copper rods
  B) iron rods, copper rods, manilla and cowries
  C) cowries, manilla, brass rod andcopper wires
  D) copper wires, brass wires, cowries and iron rod
  Show Answer
  The correct answer is C .
• Question 2113:

  Use the information below to answer 38 and 39.

  Companies i, ii, iii and iv produce and sell electronic videos.

  Company i, sells video for N14,000 each and offers advice on how to fix and operate them .

  Company ii, sells at N14,000 and its representatives go to install at no additional cost.

  Company iii, sells at N15,500 and offers credit sales at N15,000 each.

  Which of these companies are more engaged in public activities?

  Options:
  A) i and ii
  B) i and iii
  C) ii and iv
  D) iii and iv
  Show Answer
  The correct answer is A .
• Question 2114: Which of the following is a matter of personal preference on the part of a superior officer? Options:
  A) Unity of command
  B) Span of control
  C) Delegation of anthority
  D) Unity of direction
  Show Answer
  The correct answer is C .
• Question 2115: A memorandum of association is applicable to a Options:
  A) partnership
  B) sole trader
  C) joint stock company
  D) public corporation
  Show Answer
  The correct answer is C .
• Question 2116:

  Use the following information to answer this question.

  The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

  Initial Capital	5000
  Net Profit	1000
  Furniture	2000
  Equipment	2900
  Debtors	100
  Stock	1000
  Bank	500

   

  From the above, calculate Current assets

   

  Options:
  A) 1600
  B) 1060
  C) 1500
  D) 600
  Show Answer
  The correct answer is A .
• Question 2117: 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 2118:

  Examples of consumer goods include all except________

  Options:
  A) Nurse
  B) Cars
  C) Spoon
  D) Shoes
  Show Answer
  The correct answer is B .
• Question 2119: Which of the following is a type of system software Options:
  A) utility programmes
  B) registers
  C) hard drives
  D) packages
  Show Answer
  The correct answer is A .
• Question 2120: The comparison of a country's visible and invisible exports and imports expressed in monetary term is? Options:
  A) balance of payment
  B) terms of trade
  C) balance of trdae
  D) terms of payment
  Show Answer
  The correct answer is C .