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 651: One of the implications of the incorporation of a company is that Options:
  A) it is more difficult for the company to raise loans
  B) the company can sue but cannot be sued
  C) the company's property becomes distinguished from that of its members
  D) its members become liable for all the debts of the company
  Show Answer
  The correct answer is C .
• Question 652: A carton of noodles valued at #2,000 was invoiced at #200 only.The accounting procedure to correct this error is to issue Options:
  A) an invoice for #200
  B) a debit note for #2,00
  C) a credit note for #1,800
  D) a debit note for #1,800
  Show Answer
  The correct answer is D .
• Question 653: The component of balance of payments which shows how the balance of both current and capital accounts are settled is know as Options:
  A) current account
  B) monetary movement account
  C) capital account
  D) social-welfare account
  Show Answer
  The correct answer is B .
• Question 654:

  Erroneous real arrangement of financial figure such as writing N624 as N264 is called?

  Options:
  A) ommission
  B) commission
  C) transposition
  D) principle
  Show Answer
  The correct answer is C .
• Question 655:

  

  From the diagram above, what does I stand for?

  Options:
  A) Aids to trade
  B) Publicity
  C) Home trade
  D) Advertising
  Show Answer
  The correct answer is A .
• Question 656:

  The production of goods and services in anticipation of demand is made possible by

  Options:
  A) warehousing
  B) packaging
  C) branding
  D) advertising
  Show Answer
  The correct answer is A .
• Question 657: The breaking down of a market into separate and identifiable elements each with its own special product requirement is known as market Options:
  A) differentiation
  B) segmentation
  C) penetration
  D) identification
  Show Answer
  The correct answer is B .
• Question 658: The comparison of a country's visible and invisible exports and imports expressed in monetary term is? Options:
  A) balance of payment
  B) terms of trade
  C) balance of trdae
  D) terms of payment
  Show Answer
  The correct answer is C .
• Question 659:

  The government agency involved in issuing of export licences is

  Options:
  A) Nigeria Port Authority
  B) Customs and Excise Authority
  C) Nigeria Export Promotion Council
  D) Nigeria Export Processing Zone
  Show Answer
  The correct answer is C .
• Question 660:

  Booklets containing a range of products, their uses and prices are called

  Options:
  A) Posters
  B) Handbill
  C) Catalogues
  D) Price Journal
  Show Answer
  The correct answer is C .