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 461: A communication process providing information for decision-making in an organization is the? Options:
  A) Management information System
  B) Transmission Control Protocol
  C) Information Retrieval System
  D) File Transfer Protocol
  Show Answer
  The correct answer is C .
• Question 462: One of the function of the Niger Basin Commission is to Options:
  A) Ensure equal treatment of African nations
  B) Foster closer co-operation among West African nations
  C) Map out regulation that will guide all navigation for all West African nations
  D) guarantee freedom of navigation for all West African nations
  Show Answer
  The correct answer is C .
• Question 463:

   The first known legislation to protect consumer rights in Nigeria is the? 

  Options:
  A) usury laws
  B) sale of goods act
  C) hire purchase act
  D) food and drugs act
  Show Answer
  The correct answer is B .
• Question 464:

  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 465:

  The sale of second hand securities is done in which market

  Options:
  A) Building society
  B) cooperative society
  C) stock exchange
  D) capital market
  Show Answer
  The correct answer is C .
• Question 466:

  Use the following information to answer this question.

  The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

  Initial Capital	5000
  Net Profit	1000
  Furniture	2000
  Equipment	2900
  Debtors	100
  Stock	1000
  Bank	500

   

  From the above, calculate Current assets

   

  Options:
  A) 1600
  B) 1060
  C) 1500
  D) 600
  Show Answer
  The correct answer is A .
• Question 467: A country is said to be experiencing an unfavorable balance of trade if her Options:
  A) exports exceed imports
  B) visible exports exceed visible imports
  C) imports and exports are equal
  D) visible imports exceed visible exports
  Show Answer
  The correct answer is D .
• Question 468: The minimum lending rate of a bank is a component of its Options:
  A) current assets
  B) debit balances
  C) credit balance
  D) fixed assets
  Show Answer
  The correct answer is A .
• Question 469: Inbound tourism occurs when Options:
  A) non-resident s of a country travel within it.
  B) non- resident of a country travel to other countries
  C) resident of a country travel within it
  D) Residents of a country travel to other countries.
  Show Answer
  The correct answer is C .
• Question 470: The right of the public to protection against questionable products and marketing practices is Options:
  A) an economic aspect of the business
  B) a social responsibility of business
  C) a legal aspect of the business
  D) a political aspect of the business
  Show Answer
  The correct answer is C .