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 51:

  An example of extractive occupation is

  Options:
  A) driving
  B) teaching
  C) banking
  D) mining
  Show Answer
  The correct answer is D .
• Question 52: The turnover of firm maybe affected by Options:
  A) the demand for its product
  B) the cost of its goods sold
  C) its closing stock
  D) its net assets
  Show Answer
  The correct answer is A .
• Question 53: The document which can be exchange for a bill of lading is? Options:
  A) freight note
  B) mate receipt
  C) export invoice
  D) ship report
  Show Answer
  The correct answer is A .
• Question 54: The documents used in the purchase and sale of goods which contain other terms of trade are? Options:
  A) debit note and credit note
  B) delivery note and advice nopt
  C) invoice and order
  D) quotation and invoice
  Show Answer
  The correct answer is C .
• Question 55:

  i. personal savings. ii. retained earnings iii. accrued taxes.

  Which of the items constitute internal sources of financing for companies?

  Options:
  A) i and ii
  B) i and iii
  C) ii and iii
  D) i, ii and iii
  Show Answer
  The correct answer is A .
• Question 56: A major factor that affects business operations is Options:
  A) technology
  B) supply
  C) product
  D) rivalry
  Show Answer
  The correct answer is A .
• Question 57: Petrol voucher is an example of a Options:
  A) bankdraft
  B) legal tender
  C) token money
  D) partial money
  Show Answer
  The correct answer is D .
• Question 58: An internal demand for goods to be purchased or drawn from stock is? Options:
  A) a quoation
  B) a requisition
  C) a tender
  D) an order
  Show Answer
  The correct answer is B .
• Question 59: 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 60: The rewards of rents, wages, interests and profits accrue from? Options:
  A) capital, labour, land and enterpreneur respectively
  B) land, enterpreneur,labour and capital respectively
  C) land, lbour, capital and enterpreneur respectively
  D) labour, enterpreneur, land and capital respectively
  Show Answer
  The correct answer is C .