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 2181: A major criticism of a cooperative society is? Options:
  A) limited capital
  B) granting exceessive loans to members
  C) selling goods on credit to non-members
  D) management incompetence
  Show Answer
  The correct answer is D .
• Question 2182: An agent who brings a customer into business contact with his principle is known as? Options:
  A) a del credere agent
  B) an auctioneer
  C) a factor
  D) a broker
  Show Answer
  The correct answer is D .
• Question 2183: Profit that is expressed as a percentage of the cost of goods sold is referred to as Options:
  A) margin
  B) mark-up
  C) gain percent
  D) gross profit
  Show Answer
  The correct answer is B .
• Question 2184: Which of the following is used as pricing policy? Options:
  A) labelling
  B) packaging
  C) market selection
  D) market skimming
  Show Answer
  The correct answer is D .
• Question 2185: In CIF contracts, risk passes at the time of shipment but the property does not pass until? Options:
  A) there is physical transfer of goods
  B) the shipping manifest are signed
  C) the shipping documents are transferred
  D) the goods on board are delivered
  Show Answer
  The correct answer is B .
• Question 2186:

  Which of the following regulates and controls the activities in the Nigerian Stock Exchange?

  Options:
  A) CBN
  B) BPE
  C) SEC
  D) NDIC
  Show Answer
  The correct answer is C .
• Question 2187:

  Tourism involving residents of the given country travelling only within this country is called__________

  Options:
  A) Domestic Tourism
  B) Inbound Tourism
  C) Outbound Tourism
  D) Traveller's Tourism
  Show Answer
  The correct answer is A .
• Question 2188: If the rate of turnover of a company in 1999 was 4 times while the average stock was N49,600, determine the turnover. Options:
  A) N199,400
  B) N198,400
  C) N100,200
  D) N99,200
  Show Answer
  The correct answer is B .
• Question 2189: A partnership is dissolved when? Options:
  A) the business suffers a loss
  B) there is bankruptcy
  C) there is consistent theft
  D) there is misunderstanding between partners
  Show Answer
  The correct answer is B .
• Question 2190:

  One of these is a current asset

  Options:
  A) Fittings
  B) Machineries
  C) Motor vehicles
  D) stock
  Show Answer
  The correct answer is D .