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 581: When an organization studies a market that is undeserved by others and creates a product or service for the segment, it is engaged in? Options:
  A) market inegration
  B) market positioning
  C) market orchestration
  D) product differentiation
  Show Answer
  The correct answer is D .
• Question 582: Warehousing is important to manufacturers because it helps to? Options:
  A) improve the quality of goods
  B) produce goods in advance
  C) meet the demand of customers
  D) determine input rquirements
  Show Answer
  The correct answer is B .
• Question 583:

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

  Options:
  A) Employees
  B) management
  C) government
  D) shareholders
  Show Answer
  The correct answer is D .
• Question 584: The abbreviation C and F indicate that the? Options:
  A) production cost excludes the cost of carriage
  B) selling price includes the cost of carriage
  C) cost of production includes dilivery charges
  D) cost price includes the cost of carriage
  Show Answer
  The correct answer is B .
• Question 585:

  What’s the first form an applicant must complete before taking an insurance policy?

  Options:
  A) Cover note
  B) advice note
  C) proposal form
  D) certificate of insurance
  Show Answer
  The correct answer is C .
• Question 586: One of the criteria for differentiating consumers markets from industrial ones is the Options:
  A) type of demand
  B) type of supply
  C) nature of the services rendered
  D) price of the goods
  Show Answer
  The correct answer is A .
• Question 587: Goods imported into a country for the purpose of re-exporting attracts a rebate known as Options:
  A) customs draw back
  B) export royalty
  C) incentive
  D) export rebate
  Show Answer
  The correct answer is A .
• Question 588:

  In Nigeria, it is mandatory for all business enterprises to be registered with the________

  Options:
  A) Government
  B) Corporate Affairs Commission
  C) Agent
  D) Enterprise
  Show Answer
  The correct answer is B .
• Question 589:

  Given:
  ₦
  Opening Stock 1,800
  Purchases 2,800
  Sales 8,000
  Closing stock 350
  Carriage on sales 500

  Calculate the value of the unused stock.

  Options:
  A) ₦800
  B) ₦500
  C) ₦320
  D) ₦350
  Show Answer
  The correct answer is D .
• Question 590: One major advantage of a credit and thrift cooperative is that Options:
  A) It can approach government for loan
  B) It encourages saving habit
  C) there are no legal restrictions
  D) each member has a vote during meetings
  Show Answer
  The correct answer is B .