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 731: Commerce includes all the occupations concerned with? Options:
  A) sales
  B) production
  C) marketing
  D) distribution
  Show Answer
  The correct answer is D .
• Question 732: The development of commerce resulted from? Options:
  A) trading
  B) competition
  C) importation
  D) specialization
  Show Answer
  The correct answer is A .
• Question 733: The major objective of corporate mergers is to Options:
  A) minimize the effects of taxation
  B) increase financial advantage
  C) faclitate profit maximization
  D) enhance economies of scale
  Show Answer
  The correct answer is D .
• Question 734: If a firm's turnover is N15,000 and the cost of goods sold is N 10,000 What is the percentage of gross profit on sales? Options:
  A) 23.3%
  B) 33.3%
  C) 50.0%
  D) 66.6%
  Show Answer
  The correct answer is B .
• Question 735:

  The issue of prospectus by a company is an invitation to members of the public to

  Options:
  A) subscribe to the company's shares
  B) attend the company's Annual general Meeting
  C) buy the company's products
  D) attend the company's board meeting
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  The correct answer is A .
• Question 736: Goods that are manufactured or acquired by the seller after the contract of sale are? Options:
  A) specialty goods
  B) future goods
  C) specific goods
  D) general goods
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  The correct answer is C .
• Question 737:

  A person who undertakes any risk in insurance business is known as ? 

  Options:
  A) a broker
  B) an underwriter
  C) an insurer
  D) an actuary
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  The correct answer is B .
• Question 738:

  Rights issue means the?

  Options:
  A) issue of shares to the directors of a company.
  B) issue of shares by a company only to the founders of the company
  C) right of shareholders to vote on any issue
  D) issue of shares to shareholders on favorable terms
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  The correct answer is B .
• Question 739:

  When two or more companies agree to execute a project too large for one to handle, this is referred to as

  Options:
  A) an amalgamation
  B) a cartel
  C) a consortium
  D) a merger
  Show Answer
  The correct answer is C .
• Question 740: In international trade, documentary credit is also known as? Options:
  A) credit note
  B) letters of credit
  C) bankers' note
  D) letter of hypothecation
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  The correct answer is B .