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 261: One of the functions of NACCIMA is? Options:
  A) negotiating with labour unions in matters of wages and conditions of service
  B) pooling of members' resources for long-term investment
  C) disseminating information to members on matters relating to tariffs
  D) ensuring uniformity in labour matters and industrial relations
  Show Answer
  The correct answer is D .
• Question 262:

  An advantage of rail transport is that it

  Options:
  A) is less expensive to maintain
  B) is not prone to delays
  C) carries bulky and heavy goods
  D) enhances door-to-door delivery
  Show Answer
  The correct answer is C .
• Question 263: A partnership is dissolved due to ________ Options:
  A) liquidity of the firm
  B) death of the employee
  C) insanity of a partner
  D) resignation of an employee
  Show Answer
  The correct answer is C .
• Question 264:

  One of the disadvantages of Sole Proprietorship is__________

  Options:
  A) It requires small operations
  B) It involves small capital
  C) It lacks specialization
  D) Grants from government
  Show Answer
  The correct answer is C .
• Question 265: The process of changing the form of a new material is known as? Options:
  A) fabrication
  B) extraction
  C) conversion
  D) production
  Show Answer
  The correct answer is D .
• Question 266: Initial public offering is undertaken through the? Options:
  A) secondary securities market
  B) first-tier securities market
  C) primary securities
  D) second-tier securities market
  Show Answer
  The correct answer is B .
• Question 267:

  Use the information below to answer question 20 and 21

  Mr Awala is a retailer of a single product. he sells at the standard price. He gives a trade discount of 5%, quantity discount of 3% for a volume above 1000 units and a cash of discount of 2/10 net 30. the existing selling price of the product is N100 per units. Mr Bacus purchased 1500 units of the product on credit and promised to pay Mr. Awala in cash in the first 10 days after purchase.

  The trade discount receivable by Mr Bacus is

  Options:
  A) N4,500
  B) N7,500
  C) N10,500
  D) N12,000
  Show Answer
  The correct answer is B .
• Question 268: The scope of economic activities can be enlarged by Options:
  A) transportation and trading
  B) business and its promotion
  C) trading and aids to trade
  D) insurance and banking
  Show Answer
  The correct answer is C .
• Question 269: The sales of goods through a medium that accepts money and delivers the items to the customer is Options:
  A) an automated teller machine
  B) a vending machiine
  C) a counting machine
  D) a branding machine
  Show Answer
  The correct answer is B .
• Question 270: Which of the following is used as a pricing policy? Options:
  A) Packaging
  B) Market selection
  C) Labelling
  D) Market skimming
  Show Answer
  The correct answer is D .