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 221:

  Amina Enterprises Balance Sheet as at 30/3/99
  Liabilities	₦	Assets	₦
  Share capital	400,000	Land	200,000
  Reserve fund	200,000	Buildings	150,000
  Creditors	110,000	Machinery	200,000
  Bills payable	50,000	Implements	20,000
  Undistributed profits	45,000	Office fittings	5,000
  Wages due	5,000	Raw materials	100,000
  		Finished goods	50,000
  		Debtors	20,000
  		Bills receivable	15,000
  		Cash at bank	45,000
  		Cash at hand	5,000

  Use the information below to answer question

  What is the total fixed capital?

  Options:
  A) N 570,000
  B) N 570,000
  C) N 575,000
  D) N 675,000
  Show Answer
  The correct answer is C .
• Question 222:

  One of the functions of the Nigeria Ports Authority is the provision of

  Options:
  A) carrier services to ensure speedy delivery
  B) facilities to enhance the speedy loading and offloading of cargoes
  C) facilities to ensure that goods get to the destinations
  D) shelter for operators of cargoes
  Show Answer
  The correct answer is B .
• Question 223: Resources obtained from the extractive sector that are transformed into finished products are examples of? Options:
  A) primary production
  B) tertiary production
  C) direct production
  D) secondary production
  Show Answer
  The correct answer is A .
• Question 224:

  The assembling of Manufactured products into forms usable by humans is classified as

  Options:
  A) Extraction occupation
  B) Construction occupation
  C) Manufacturing occupation
  D) Industrial occupation
  Show Answer
  The correct answer is B .
• Question 225: A body established to protect the interest of members against the exploitation of retail traders and manufacturers is the? Options:
  A) whloesalers' association
  B) consumers association
  C) government agency
  D) workers' union
  Show Answer
  The correct answer is B .
• Question 226:

  Given: i. Retail ii. Export iii Transport iv. Import V. Insurance Vi. Banking and finance Vii. Wholesale Viii Communication.

  Which of the above is aid to trade?

  Options:
  A) i, ii, iii and Viii
  B) iii, V, Vi and Viii
  C) i, ii, iii and Vi
  D) ii, V,Vi, and Vii
  Show Answer
  The correct answer is B .
• Question 227:
  

  Use the information above to answer the question below.

  Find the current ratio.

  Options:
  A) 1.53:1
  B) 1, 85:1
  C) 0. 87: 1
  D) 0, 50:1
  Show Answer
  The correct answer is B .
• Question 228: A business that focuses attention on the quality of the goods produced by precisely knowing what the consumers desire is said to be operation the Options:
  A) product mix
  B) promotion mix
  C) marketing concept
  D) product orientation.
  Show Answer
  The correct answer is C .
• Question 229:

  A document which entitles its holder to the gods named on it, which is stored in a specific warehouse is called________

  Options:
  A) Debit note
  B) Credit note
  C) Warrant
  D) Shipping note
  Show Answer
  The correct answer is C .
• Question 230: The market structure, business conditions and financial system in Nigeria constitute the? Options:
  A) economic enironment
  B) political environment
  C) cultural environment
  D) technological environment
  Show Answer
  The correct answer is A .