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 971: A system where customer patronage is sought by producing what they need is referred to as _______? Options:
  A) sales promotion
  B) market promotion
  C) product promotion
  D) market orientation
  Show Answer
  The correct answer is D .
• Question 972:

  A form of money which was not used in the early days of trade is

  Options:
  A) tobacco
  B) metal bars
  C) cowries
  D) coins
  Show Answer
  The correct answer is C .
• Question 973:

  Which of the limited liability companies have a limit of fifty members and do not issues their shares to the public

  Options:
  A) Private limited liability
  B) Public limited liability
  C) Partnership
  D) Co-operative society
  Show Answer
  The correct answer is A .
• Question 974: The elimination of fault in a computer programme is called? Options:
  A) console
  B) debug
  C) dump
  D) loop
  Show Answer
  The correct answer is B .
• Question 975: The document issued by a port authority for goods deposited is a Options:
  A) bill of lading
  B) bill of sight
  C) consular invoice
  D) warehouse warrant
  Show Answer
  The correct answer is D .
• Question 976: The warehouse that is owned and controlled by the government is a Options:
  A) wholesalers' warehouse
  B) public warehouse
  C) state warehouse
  D) manufaturers' warehouse
  Show Answer
  The correct answer is C .
• Question 977:

  $\begin{array}{cc}\text{Opening stock}& 1800\\ \text{Purchases}& 2800\\ \text{Sales}& 800\\ \text{Closing stock}& 800\\ \text{Carriage on sale}& 500\end{array}$

  Calculate the value of the unused stock.

  Options:
  A) N320
  B) N350
  C) N500
  D) N800
  Show Answer
  The correct answer is D .
• Question 978: In a business organization, the annual operation plan or budget is a form of Options:
  A) casual plan
  B) medium-term plan
  C) long-term plan
  D) short-term plan
  Show Answer
  The correct answer is D .
• Question 979: The partner that only contributes part of the capital used in the formation and running of a business is known as? Options:
  A) a passive partner
  B) an active partner
  C) a dormant partner
  D) a nominal partner
  Show Answer
  The correct answer is C .
• Question 980:

  A transporter who had to sell some perishable goods without the prior authority of the owner becomes an agent by?

  Options:
  A) conduct
  B) necessity
  C) ratification
  D) estoppel
  Show Answer
  The correct answer is B .