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 531: Insurance against burglary is an example of Options:
  A) indemnity insurance
  B) fidelity guarantee insurance
  C) non-insurable risk
  D) non-indemnity insurance
  Show Answer
  The correct answer is A .
• Question 532: A trader who gives credit stands to enjoy? Options:
  A) higher profit
  B) cash discount
  C) increased sles
  D) trade discount
  Show Answer
  The correct answer is C .
• Question 533: Which of the following is a traditional medium of communication used to mark festivals? Options:
  A) Palm frond
  B) Metal gong
  C) Talking drum
  D) Gum blast
  Show Answer
  The correct answer is C .
• Question 534:

  In a public limited liability company, planning is carried out by

  Options:
  A) Employees
  B) The chairman of the board
  C) Shareholders
  D) Manufacturer’s warehouse
  Show Answer
  The correct answer is C .
• Question 535: To meet security requirements before gaining access to data, a computer operator supplies Options:
  A) an e-mail address
  B) a yahoo address
  C) a password
  D) a modem
  Show Answer
  The correct answer is C .
• Question 536: Service rendered to the public is provided by? Options:
  A) governement
  B) civil servants
  C) professionals
  D) domestic servants
  Show Answer
  The correct answer is B .
• Question 537: The document submitted to the customs authority when full description of imported goods is not provided is Options:
  A) a bill of sight
  B) an invoice
  C) an indent
  D) a bill of entry
  Show Answer
  The correct answer is C .
• Question 538: The most commonly used commercial documents are? Options:
  A) order notes, debit notes, invoices and quotations
  B) letters of enquiry, consignment notes, receipts and invoices
  C) credit notes, statement of accounts, depatch order and bills
  D) balance sheet, receipts, invoices and manifest
  Show Answer
  The correct answer is A .
• Question 539: If a business uses part of its profit to develop the area where it operates, the business is fulfilling its ______ Options:
  A) economic responsibilities
  B) marketing responsibilities
  C) social responsibilities
  D) managerial responsibilities
  Show Answer
  The correct answer is C .
• Question 540:

  Use the information below to answer questions 13 and 14

  	#
  Sales	50,000.00
  Debtors	10,000.00
  Cash in hand	5,000.00
  Opening stock	30,000.00
  Creditors	8,000

  Options:
  A) #35,000.00
  B) #20,000.00
  C) #5,000.00
  D) #14,000.00
  Show Answer
  The correct answer is C .