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 2471:

  A demerit of communication is that it

  Options:
  A) increase the cost of goods in transit
  B) give room for distortion of fact
  C) hinder quick reception of messages over a long distance
  D) makes payment for goods cumbersome
  Show Answer
  The correct answer is B .
• Question 2472: The least of the advantages of indigenization is that Options:
  A) the standard of living of the indigenes is improved
  B) the economy is controlled by the nationals
  C) enterpreneurals skill is developped
  D) foreigners' domination is avoided
  Show Answer
  The correct answer is A .
• Question 2473:

  A person who in consideration for an extra commission takes responsibility for goods sold on credit and in case of default is a

  Options:
  A) commission agent
  B) factor
  C) broker
  D) del credere agent
  Show Answer
  The correct answer is D .
• Question 2474:

  The effects of devaluation includes all except

  Options:
  A) expansion of local industries
  B) increase in import
  C) increase in standard of living
  D) exports become cheaper
  Show Answer
  The correct answer is C .
• Question 2475:

  

  What is the net working capital ?

  Options:
  A) ₦6 000 000
  B) ₦16 000 000
  C) ₦11 000 000
  D) ₦25 000 000
  Show Answer
  The correct answer is D .
• Question 2476: Okeze contracted to sell TV sets to Ojo. Unknown to them, the sets were stolen in transit. This contract may be terminated on the ground of Options:
  A) bankruptcy
  B) frustration
  C) fraudulence
  D) breach of contract
  Show Answer
  The correct answer is B .
• Question 2477:
  

  What are fixtures and fittings in a balance sheet?

  Options:
  A) liquid capital
  B) current assets
  C) fixed assets
  D) working capital
  Show Answer
  The correct answer is C .
• Question 2478: A factor in a business environment which increases the rate of product obsolescence is? Options:
  A) technology
  B) political
  C) legal
  D) economic
  Show Answer
  The correct answer is A .
• Question 2479: The shares of a company listed on the stock exchange for sale are referred to as? Options:
  A) registered shares
  B) deferred shares
  C) issued shares
  D) quoted shares
  Show Answer
  The correct answer is D .
• Question 2480: The major procedures in the purchase and sale of goods are enquiry Options:
  A) quotation, order and invoice
  B) placement, order and invoice
  C) bargin, order and invoice
  D) order, sale, and invoice
  Show Answer
  The correct answer is A .