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 2801:

  The best mode of ensuring that items posted get to the named addresses is through

  Options:
  A) recorded delivery
  B) certificate of posting
  C) registered mail
  D) express mail
  Show Answer
  The correct answer is C .
• Question 2802: The practice of assessing employees for payment or advancement according to their observed achievement is called Options:
  A) employee ranking
  B) merit rating
  C) job grading
  D) employee education
  Show Answer
  The correct answer is C .
• Question 2803: Privatization is concerned with? Options:
  A) equal ownership between the public and the governement
  B) thje dilution of ownership among the public
  C) the individual ownership of companies
  D) governement ownership of companies
  Show Answer
  The correct answer is C .
• Question 2804: Production ends when goods and services ________ Options:
  A) reach the final consumer
  B) are used for manufacturing
  C) are packaged and labelled
  D) are sold to the middlemen
  Show Answer
  The correct answer is A .
• Question 2805: The application of division of labour would generally bring about Options:
  A) Increase in quantity of goods and services
  B) Increase in variety of goods and services
  C) Cheapness of goods and services
  D) Cost efficiency in the production of goods and series.
  Show Answer
  The correct answer is A .
• Question 2806: The net profit is the excess of gross profit and sources of income over all the expenses . This implies that net profit is Options:
  A) the difference between gross profit and trade expenses
  B) the different between gross profit and net sales
  C) sales less cost of sales including sales returns
  D) opening stock add purchases less closing stock
  Show Answer
  The correct answer is A .
• Question 2807:

  Which of the following documents would a shareholder inspect to know his voting rights?

  Options:
  A) Articles of Association
  B) Certificate of Incorporation
  C) Certificate of Trading
  D) Memorandum of Association
  Show Answer
  The correct answer is A .
• Question 2808:

  NAME	INSURED AMOUNT(₦)	ACTUAL VALUE(₦)	ACTUAL LOSS(₦)
  Mr. P Mr. K Mr. R	25,000 30,000 40,000	100,000 120,000 150,000	30,000 40,000 50,000

  Use the table above to answer questions 27 and 28

  If Mr. P takes a fire insurance policy with average clause, his compensation will be

  Options:
  A) ₦7,500
  B) ₦5,000
  C) ₦70,000
  D) ₦75,000
  Show Answer
  The correct answer is A .
• Question 2809:

  Consumers could be encouraged to purchase a company's product through

  Options:
  A) research
  B) planning
  C) distribution
  D) advertisement
  Show Answer
  The correct answer is D .
• Question 2810: The measure of independence available to the individual business unit that come together is the main different between Options:
  A) veritcal and horizontal integration
  B) mergers and acquisition
  C) consortium and almalgamation
  D) trust and cartel
  Show Answer
  The correct answer is B .