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 231:

  A debenture holder is entitled to

  Options:
  A) Dividend
  B) Interest
  C) commission
  D) Profit
  Show Answer
  The correct answer is B .
• Question 232: In every simple contract, the price which is paid to purchase a promise is called Options:
  A) offeree
  B) acceptance
  C) consideration
  D) representation
  Show Answer
  The correct answer is C .
• Question 233:

  Taking a new product to a particular part of the country to test the reaction of consumers to the product is referred to as?

  Options:
  A) sales promotion
  B) sampling
  C) merchandising
  D) advertising
  Show Answer
  The correct answer is A .
• Question 234: 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 235: When a buyer has been overcharged for goods supplied, the seller issues a _______? Options:
  A) debit note
  B) proforma invoice
  C) letter of credit
  D) credit note
  Show Answer
  The correct answer is D .
• Question 236:

  One of these is not part of small-scale retailers

  Options:
  A) Urban stores
  B) Roadside traders
  C) Supermarkets
  D) Itinerant traders
  Show Answer
  The correct answer is C .
• Question 237: The major problem encountered in international trade is that of Options:
  A) distance
  B) differences in culture
  C) politics
  D) differences in currency
  Show Answer
  The correct answer is D .
• Question 238: Safeguarding the health of the nation' is the slogan used by? Options:
  A) NDLEA
  B) NHIS
  C) NAFDAC
  D) EPL
  Show Answer
  The correct answer is C .
• Question 239:

  An article used as a means of exchange in the early days of trade in West Africa was

  Options:
  A) cedis
  B) cowrie
  C) dalasi
  D) naira
  Show Answer
  The correct answer is B .
• Question 240: The type of labour that makes use of physical effort in production processes is the Options:
  A) unskilled labour
  B) skilled labour
  C) blue-collar job
  D) white-collar job
  Show Answer
  The correct answer is A .