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 761: The process of transferring data from one computer to another is referred to as Options:
  A) downloading
  B) faxing
  C) browsing
  D) decoding
  Show Answer
  The correct answer is A .
• Question 762: The difference between total current assets and total current liabilities of a business is known as Options:
  A) quick ratio
  B) liquidity ratio
  C) working capital
  D) circulating capital
  Show Answer
  The correct answer is C .
• Question 763:

  $\begin{array}{cc}N& N\\ \text{Capital 8000}& \text{Plant and machinery 5000}\\ \text{Net profit 4000}& \text{Motor van 4500}\\ \text{Drawings 200}& \text{Stock 2000}\\ \text{Creditors 2000}& \text{Debtor 1000}\\ \text{Accruals 300}& \text{Bank 100}\\ & \text{Cash 600}\\ 14100& 14100\end{array}$

  What is the acid ratio?

  Options:
  A) 1.13 : 1
  B) 2 : 1
  C) 4.75 : 1
  D) 4.25 : 1
  Show Answer
  The correct answer is A .
• Question 764: Goods and services transferred from seller to buyer without immediate payment is referred to as ______ Options:
  A) hire purchase
  B) mutual understanding
  C) credit sale
  D) leasing
  Show Answer
  The correct answer is C .
• Question 765:

  At the collapse of a business enterprises, the person appointed to dispose off the assets is called

  Options:
  A) an auctioneer
  B) an auditor
  C) a broker
  D) a liquidator
  Show Answer
  The correct answer is D .
• Question 766: Balance of payments is made up of? Options:
  A) visible and current items
  B) invisible and capital items
  C) current and capital items
  D) visible and invisible items
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  The correct answer is C .
• Question 767: The main aim of selling directly to consumers by manufactures is to Options:
  A) dis courage the activities of middlemen
  B) make contacts with comsumers
  C) eliminate transportation cost
  D) maximize the profit margin
  Show Answer
  The correct answer is A .
• Question 768: A pro-forma invoice is sent to inform a buyer about the Options:
  A) quantity of goods
  B) prices of goods
  C) designation of goods
  D) quality of goods
  Show Answer
  The correct answer is B .
• Question 769: Bank Giro is a method of settling debt from a Options:
  A) customer to a bank
  B) bank to customer
  C) customer to another
  D) bank to another
  Show Answer
  The correct answer is A .
• Question 770:

  A country is said to be experiencing an unfavourable balance of trade if her

  Options:
  A) exports exceed imports
  B) visible imports exceeds Visible exports
  C) visible exports exceed visible imports
  D) imports and exports are equal
  Show Answer
  The correct answer is B .