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 291: An activity that involves derivation of raw materials from land and sea is? Options:
  A) construction
  B) farming
  C) agriculture
  D) extraction
  Show Answer
  The correct answer is D .
• Question 292: A document recording the transactions of an organization with its customer for a specified period which normally shows the indebtedness of one to the other is a Options:
  A) statement of account
  B) consular invoice
  C) proforma invoice
  D) statement affairs
  Show Answer
  The correct answer is A .
• Question 293: A partnership is dissolved when? Options:
  A) the business suffers a loss
  B) there is bankruptcy
  C) there is consistent theft
  D) there is misunderstanding between partners
  Show Answer
  The correct answer is B .
• Question 294:

  A request for goods from another country by an importer would be made using

  Options:
  A) an invoice
  B) an indent
  C) an order
  D) a quotation
  Show Answer
  The correct answer is B .
• Question 295:

  Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

  	₦		₦
  Opening stock Purchase	1000 7000	Sales	8000
  Closing Stock	3000

  Trading Expenses

  Electricity Salaries Rent Depreciations

  ₦ 135 875 180 210

  From the figures given, calculate

  Net profit

  Options:
  A) 1400
  B) 5000
  C) 1600
  D) 6400
  Show Answer
  The correct answer is C .
• Question 296: Which of the following is a type of system software Options:
  A) utility programmes
  B) registers
  C) hard drives
  D) packages
  Show Answer
  The correct answer is A .
• Question 297:

  The main objective of a trade association is to

  Options:
  A) protect its members against litigation
  B) protect its members against victimization
  C) boost the trade of its members
  D) secure credit for its members
  Show Answer
  The correct answer is B .
• Question 298:

  The progragramme that makes up the operating system in a computer system is called? 

  Options:
  A) system software
  B) micro program
  C) syntax
  D) system flow-chart
  Show Answer
  The correct answer is A .
• Question 299:

  One of the functions of a retailer is the

  Options:
  A) breaking of bulk
  B) provision of credit facilities to relations
  C) provision of jobs for customers
  D) financing of production activities
  Show Answer
  The correct answer is A .
• Question 300: Where a manufacturer collects money from wholesalers in exchange for goods produced is referred to as Options:
  A) charge account
  B) trading checks
  C) trade credit
  D) I owe you
  Show Answer
  The correct answer is C .