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 351: A form of money that has gone out of use is? Options:
  A) paper money
  B) bank money
  C) commodity money
  D) foreign money
  Show Answer
  The correct answer is C .
• Question 352:

  A conter offer is an offer that is

  Options:
  A) different from the original offer
  B) breached
  C) different in terms of acceptance
  D) extended to several people at once
  Show Answer
  The correct answer is A .
• Question 353: A type of long-term loan granted to companies with fixed interest rate as well as with redeemable and irredeemable features is referred to as projects. Options:
  A) debenture
  B) a bond
  C) a term loan
  D) an overdraft
  Show Answer
  The correct answer is A .
• Question 354:

  Which of these is a document used in International trade?

  Options:
  A) Debit note
  B) Credit note
  C) Invoice
  D) Price ring
  Show Answer
  The correct answer is C .
• Question 355:

  Chibuzor agreed to make a dress for Hauwa with September 20, 1995 as the delivery date, if the dress was not ready on that date, Hauwa could

  Options:
  A) sue chibuzor for specific performance
  B) seize another gown from chibuzor's shop
  C) regard the contract between then as terminated
  D) sue chibuzor for damage
  Show Answer
  The correct answer is A .
• Question 356: A person who buys new issues with a view of reselling at a higher price in the near future is referred to as a? Options:
  A) bull
  B) bear
  C) dealer
  D) stag
  Show Answer
  The correct answer is A .
• Question 357: A pattern that shows the kinds of participants involved in the production, distribution and ultimate use of a product is referred to as? Options:
  A) selection
  B) strategy
  C) structure
  D) synergy
  Show Answer
  The correct answer is C .
• Question 358:

  	₦		₦
  Stock 1/1	20,000	Net sales	370,000
  Add purchases	250,000
  Cost of goods available for sale	270,000
  Less stock 31/12	40,000
  Cost of goods sold	230,000
  Rent expenses	35,000

  Calculate the net profit

  Options:
  A) ₦35,000
  B) ₦115,000
  C) ₦105,000
  D) ₦40,000
  Show Answer
  The correct answer is C .
• Question 359: A type of credit offered by both commercial and merchant banks in Nigeria is? Options:
  A) trade credit
  B) line of credit
  C) discounting facility
  D) overdraft
  Show Answer
  The correct answer is D .
• Question 360: The making of doors from timber planks is a type of? Options:
  A) manufacturing
  B) tertiary production
  C) secondary produuction
  D) primary production
  Show Answer
  The correct answer is C .