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 511: Quantity discount is offerred mainly to persuade the buyer to Options:
  A) defer payment
  B) make prompt purchases
  C) make advance payment
  D) purchase more
  Show Answer
  The correct answer is B .
• Question 512:

  The basic characteristics of co-operative society include all except one

  Options:
  A) It is managed democratically
  B) It follows the principle of one man
  C) Amateur Management
  D) Extra capital is raised through loan
  Show Answer
  The correct answer is C .
• Question 513:

  $\begin{array}{cccc}\text{Name}& \text{Insure amount}& \text{Actual value}& \text{Actual loss}\\ \text{Mr A}& 30,000& 100,000& 40,000\\ \text{Mr B}& 40,000& 120,000& 50,000\\ \text{Mr C}& 50,000& 15,000& 70,000\end{array}$

  If Mr A takes a fire insurance policy with average clause, his compensation will be

  Options:
  A) N15,000
  B) N20,000
  C) N12,000
  D) N25, 000
  Show Answer
  The correct answer is C .
• Question 514:

  All but one is not an output devices?

  Options:
  A) Joystick
  B) Monitor
  C) Plotter
  D) Printer
  Show Answer
  The correct answer is A .
• Question 515: The most important factor that delayed the development of commerce in Nigeria was? Options:
  A) A.the inefficient means of communication
  B) that there were few entrepreneurs
  C) that there were few developed markets
  D) secondary production has to do with changing the?
  Show Answer
  The correct answer is C .
• Question 516:

  Freight note is a document

  Options:
  A) issued by a shipping company giving details of changes
  B) used by government to transport goods from one country to another
  C) used for payment for imported goods
  D) given by an importer to pay for goods at a future period
  Show Answer
  The correct answer is A .
• Question 517: The quality of money that describe its uniformity is Options:
  A) recognizability
  B) durability
  C) portability
  D) homogeneity
  Show Answer
  The correct answer is D .
• Question 518:

  

  What is the working capital as at December 31, 1992?

  Options:
  A) ₦65 250
  B) ₦60 000
  C) ₦48 650
  D) ₦41 950
  Show Answer
  The correct answer is D .
• Question 519:

  In the formation of a united liability company, the following documents are prepared except_______

  Options:
  A) Memorandum of Association
  B) Article of Association
  C) Statement of Nominal Capita
  D) Prospectus
  Show Answer
  The correct answer is D .
• Question 520:

  Factors considered when setting up a retail business is one of the following

  Options:
  A) capital, experience and trading
  B) experience, term of trade and trading
  C) capital, trading and term of trade
  D) capital, type of goods and source of supply
  Show Answer
  The correct answer is D .