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 441:

  The board of directors of public enterprise is appointed by who?

  Options:
  A) government
  B) management
  C) employees
  D) shareholders
  Show Answer
  The correct answer is A .
• Question 442: The world tourism organization has it headquarters in Options:
  A) New York
  B) Madrid
  C) Paris
  D) London
  Show Answer
  The correct answer is B .
• Question 443:

  The marketing term which regards the consumer as king that must be satisfied is

  Options:
  A) market segmentation
  B) market research
  C) marketing concept
  D) marketing mix
  Show Answer
  The correct answer is C .
• Question 444: The major source of income to commercial banks is? Options:
  A) tourism
  B) banking
  C) communication
  D) transportation
  Show Answer
  The correct answer is C .
• Question 445: A bill of exchange already accepted can be discounted by the holder in ______? Options:
  A) the central bank
  B) at least two banks
  C) his bank
  D) any bank
  Show Answer
  The correct answer is D .
• Question 446: The mode of transportation that is noted for on time dependability and low cost peer unit on gods carried is? Options:
  A) pipe line
  B) air
  C) rail
  D) road
  Show Answer
  The correct answer is B .
• Question 447: Which of the following requires payment into the payee's account? Options:
  A) Crossed cheque
  B) Traveller's cheque
  C) Open cheque
  D) Certified chegues
  Show Answer
  The correct answer is A .
• Question 448:

  Use the following information to answer this question.

  Oladosu Bookshop

  54, Ahmadu Bello Way

  Kaduna

  P.O.BOOX 336

  6 January 1989

  Olu Stationery ltd

  17, Kakawa Street

  Lagos

  Dear Sir,

  We require 200 pieces of 0.8mm fountain pens and 1000 pieces of plain single line 21cm × 18cm exercise books.

  Please give us quotes for the respective articles for immediate delivery and a statement of your terms of trade.

  Yours Faithfully

  Manager.

  The above represents?

  Options:
  A) A quotation
  B) Consignment notes
  C) Letters of Inquiry
  D) An order form
  Show Answer
  The correct answer is C .
• Question 449:

  Ojo's Balance Sheet as at 31st December, 2006
  	₦		₦
  Capital	10,000	Land and building	12,000
  Drawings	600	Fittings	850
  	9,400	Motor vans	1,600
  Profit	6,200	Cash	2,150
  	15,600	Prepayments	700
  Creditors	1,800	Debtors	100
  	17,400		17,400

  10% IS CHARGED ON DEPRECIATION OF FIXED ASSETS

  Determine the value of Ojo's fixed assets

  Options:
  A) ₦14450
  B) ₦13450
  C) ₦13005
  D) ₦12005
  Show Answer
  The correct answer is A .
• Question 450: One of the effects of the devaluation of the Naira is that the Options:
  A) goods that can be imported with the naira have become cheaper
  B) value of other currencies relative to the naira have become cheaper
  C) goods that can be exported from Nigeria have become costlier
  D) imports that can be bought with the naira have become costlier
  Show Answer
  The correct answer is D .