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 31:

  The excess of the assets over the liabilities of a business is called

  Options:
  A) capital employed
  B) net worth
  C) working capital
  D) initial capital
  Show Answer
  The correct answer is B .
• Question 32:

  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 33:

  A business unit in which savings of members are lent to others is a

  Options:
  A) consumer cooperative society
  B) producer cooperative society
  C) credit and thrift society
  D) wholesale cooperative society
  Show Answer
  The correct answer is C .
• Question 34: The promotion of team spirit in an organization is referred to as Options:
  A) unity of direction
  B) espirit de corps
  C) unity of purpose
  D) discipline
  Show Answer
  The correct answer is B .
• Question 35: An underlined principle in the marketing of goods is that firms should Options:
  A) Train their personnel
  B) be consumers oriented
  C) advertise the goods
  D) sell through outlets
  Show Answer
  The correct answer is B .
• Question 36: The environmental hazard that is most difficult to control is Options:
  A) land pollution
  B) water pollution
  C) air pollution
  D) political unrest
  Show Answer
  The correct answer is C .
• Question 37:

  The act of selling in a foreign market at a price lower than the cost price is called

  Options:
  A) Dumping
  B) hedging
  C) fair trading
  D) under sale
  Show Answer
  The correct answer is A .
• Question 38: A distinctive advantage of GSM is its? Options:
  A) mobility
  B) cost
  C) stability
  D) coverage
  Show Answer
  The correct answer is A .
• Question 39: An advantage of the Second-Tier Securities Market to an economy is in Options:
  A) creating avenues for investment
  B) regulating competition amongst companies
  C) granting financial assistance to consumers
  D) increasing companies profit margins
  Show Answer
  The correct answer is A .
• Question 40:

  Money is generally acceptable for transaction due to

  Options:
  A) The rule of the law
  B) Its acceptability in the global market
  C) The legal backing
  D) The central bank’s Governor’s signature
  Show Answer
  The correct answer is C .