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 451: The safety and quality of products are the social responsibility of? Options:
  A) the Standards Organization of Nigeria
  B) the Manufacturers' Association of Nigeria
  C) the Corporate Affairs Commission
  D) business organizations
  Show Answer
  The correct answer is A .
• Question 452:

  The part of the computer that has the capacity to interpret instruction is

  Options:
  A) central processing unit
  B) universal power storage
  C) monitor
  D) keyboard
  Show Answer
  The correct answer is A .
• Question 453:

  A partnership is dissolved due to

  Options:
  A) resignation of an employee
  B) liquidity of the firm
  C) death of the employee
  D) insanity of a partner
  Show Answer
  The correct answer is D .
• Question 454: A broker is an agent who links a potential investor with? Options:
  A) a shareholder who wants to register a company
  B) other members of the exchange who want to trade
  C) governement official on the exchange
  D) a quoted company
  Show Answer
  The correct answer is D .
• Question 455: A functional structure is an organizational structure in which? Options:
  A) abstract rules are applied
  B) equity prevails
  C) a specialist enforces his directives
  D) there is no hierarchy
  Show Answer
  The correct answer is C .
• Question 456: Mr Taiwo entered into a contract to let a car to Mr Bunmi for his wedding for two days. However, the car had an accident before the first day. Mr Bunmi attempted to claim damages but failed. This implies the contract was terminated by Options:
  A) bankruptcy
  B) frustration
  C) breach
  D) lapse of time
  Show Answer
  The correct answer is B .
• Question 457:

  Services are made up of

  Options:
  A) visible and invisible
  B) Industry and Commerce
  C) direct and indirect services
  D) Goods and Services
  Show Answer
  The correct answer is C .
• Question 458:

  The macro-environmental forces and trends which are a constraint on business operations are referred to as

  Options:
  A) internal factors
  B) external factors
  C) economic factors
  D) technical factors
  Show Answer
  The correct answer is C .
• Question 459:

  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

  Percentage of net profit to turnover

  Options:
  A) 30%
  B) 5%
  C) 10%
  D) 20%
  Show Answer
  The correct answer is D .
• Question 460: Musa obtains wool from his sheep, spins and transform it into cloth which he sells to consumers, this is a form of Options:
  A) Vertical integration
  B) Horizontal integration
  C) Forward Integration
  D) Background integration
  Show Answer
  The correct answer is A .