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 361: An objective of the farmers' association is to? Options:
  A) ensure that the prices of goods are fair and reasonable
  B) correct the imbalance between consumers and producers
  C) improve the methods of selling and advertising
  D) provide a stable market outlet for farm inputs
  Show Answer
  The correct answer is A .
• Question 362: An example of indirect service is rendered by Options:
  A) civil servants
  B) family doctors
  C) household servant
  D) entertainers
  Show Answer
  The correct answer is A .
• Question 363: The evolution of commerce in Nigeria is traceable to the? Options:
  A) period of barter economy as human needs became limitless
  B) desire by human beings to satify their needs through the services of other people inthe society
  C) development of human civlizations and the desire to meet their needs
  D) primitive stage of existence of human beings
  Show Answer
  The correct answer is B .
• Question 364: The three major function unit which the modern computer has are Options:
  A) the input the processor and the output units
  B) the black box, output and input units
  C) BASIC, COBOL and output uits
  D) BASIC, the processor and PASCAL
  Show Answer
  The correct answer is A .
• Question 365: The service of a textile worker are an example of? Options:
  A) extractive activity
  B) commercial activity
  C) manufacturing
  D) construction
  Show Answer
  The correct answer is C .
• Question 366: Sudden technology changes can have the effect of making Options:
  A) a company's management style ineffective
  B) a company's product obsolete
  C) the control menchanism difficult to implement
  D) the motivational factors in the company difficult to monitor
  Show Answer
  The correct answer is B .
• Question 367: 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 .
• Question 368: Given

  	N
  sales	15,000
  opening stock	5,600
  purchase	9,700
  closing stock	4,400
  gross profit	4,500
  net profit	2,000

  What is the rate of turnover from the table?

  Options:
  A) 3.50 times
  B) 3.00 times
  C) 2.00 times
  D) 2.18
  Show Answer
  The correct answer is D .
• Question 369:

  The incentive given to a buyer to encourage prompt payment is

  Options:
  A) cash discount
  B) seasonal discount
  C) quantity discount
  D) trade discount
  Show Answer
  The correct answer is A .
• Question 370:

  The Central Bank Monetary policy instrument by which it buys and sells securities is called

  Options:
  A) Bank rate
  B) Cash reserve ratio
  C) Open market operation
  D) Bank credit
  Show Answer
  The correct answer is C .