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 951: The concept that refers to the sale, transfer or exchange of goods and service is? Options:
  A) industry
  B) trade
  C) tariff
  D) marketing
  Show Answer
  The correct answer is B .
• Question 952: Modern means of payment is greatly facilitated by Options:
  A) e-commerce
  B) paper money
  C) e-banking
  D) credit transfer
  Show Answer
  The correct answer is C .
• Question 953: The most important advantage of personal selling is that it Options:
  A) allows sellers to percieve buyers' needs
  B) allows sellers to sell their goods quickly
  C) takes place easily on the high ways
  D) takes place without the permissionof government
  Show Answer
  The correct answer is A .
• Question 954: A sole proprietor insured his goods worth N200,000 for half the value. There was a fire accident in which goods valued N80,000 were destroyed. The value of compensation expected from the insurer is Options:
  A) N40,000
  B) N80,000
  C) N100,000
  D) N200,000
  Show Answer
  The correct answer is C .
• Question 955: The central focus of commercial activities is? Options:
  A) pricing
  B) advertising
  C) trading
  D) marketing
  Show Answer
  The correct answer is C .
• Question 956: The major condition for obtaining loan in thrift, credit and loans cooperative societies is Options:
  A) provision of collateral security
  B) a high level of education
  C) possesssion of a large business
  D) an approved project plan
  Show Answer
  The correct answer is A .
• Question 957:

  The main objective of corporate mergers is to?

  Options:
  A) minimize the effect of taxation
  B) increase financial advantage
  C) facilitate profit maximization
  D) enhance economies of scale
  Show Answer
  The correct answer is D .
• Question 958: A common element in all contracts is? Options:
  A) offer
  B) consideration
  C) acceptance
  D) agreement
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  The correct answer is D .
• Question 959: An example of an activity in the construction industry is Options:
  A) blacksmithing
  B) bricklaying
  C) car assembling
  D) shoemaking
  Show Answer
  The correct answer is C .
• Question 960:

  When the cost of sales is divided by the average stock, the result is

  Options:
  A) gross profit
  B) net profit
  C) rate of turnover
  D) working capital
  Show Answer
  The correct answer is C .