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 71:

  An arrangement by independent firms to share the market of their products on quota basics Is referred to as

  Options:
  A) Cartel
  B) Syndicate
  C) Trust
  D) Integration
  Show Answer
  The correct answer is A .
• Question 72:

  The principle of management that emphasizes on the number of subordinates under the direct supervision of a manager is

  Options:
  A) unity of command
  B) scalar chain
  C) unity of direction
  D) span of control
  Show Answer
  The correct answer is D .
• Question 73: An aspect of marketing that stimulates buying by providing free gifts is? Options:
  A) advertising
  B) personal selling
  C) publicity
  D) sales promotion
  Show Answer
  The correct answer is D .
• Question 74: 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 75:

  Which of the following are the components ofcommerce?

  I. trading and advertising
  II. warehousing and transportation
  III. packing and branding
  IV. Insurance and banking

  Options:
  A) I and II
  B) I,II and IV
  C) II, III and IV
  D) I and III
  Show Answer
  The correct answer is B .
• Question 76: Which of the following is used for temporary storage of data on a computer? Options:
  A) RAM
  B) ROM
  C) Floppy disk
  D) flash drive
  Show Answer
  The correct answer is A .
• Question 77:

  The business organisation in which shareholders have equal votes is?

  Options:
  A) sole proprietorship
  B) partnership
  C) cooperative
  D) limited liability company
  Show Answer
  The correct answer is C .
• Question 78:

  Services rendered to the public is provided by

  Options:
  A) domestic servants
  B) civil servants
  C) government
  D) professionals
  Show Answer
  The correct answer is B .
• Question 79: What is the reward accruable to land? Options:
  A) Rent
  B) profits
  C) wages
  D) Interest
  Show Answer
  The correct answer is A .
• Question 80: One major characteristic of credit unions and thrift societies is that? Options:
  A) the legal processes involved in their formation are rigid
  B) membership is compulsory to people in the same line of business
  C) the contribution of every member depends on the member's ability
  D) a minimum of ten people in the same line of business can form the union
  Show Answer
  The correct answer is C .