Commerce Past Questions

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Country X is facing a situation where its total payments to other countries are greater than its total earnings from abroad.

(a) State the term that relates to the above situation.

(b) Explain six measures the country could take to correct the situation 

View Answer & Discuss WAEC 2019

(a) State four services rendered by courier companies.

(b) State three advantages and three disadvantages of rail transport

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The following information was extracted from the books of Jinka Enterprises as of 31st August 2015

15 cartoons of sweets at N 2,000 per carton.
25 cartons of milk at 4,000 per carton.
15 cartons of sugar 3,000 per carton.
17 cartons of soap at x5,000 per carton

The following payments were made:
Rent and rates
Salaries and wages
A cash discount of 6% and a 10% trade discount were allowed if payment was made within 7 days.

i. Calculate how much cash was paid for the goods bought if payment was made within 7 days.

ii. If all the goods were sold at a mark up of 20% determine the selling price.

iii. Calculate the value of the newt profit made.

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The principle of span of control stipulates that?

  • A. The number of employees reporting to one superior should be kept to a workable maximum
  • B. An employee should report to only one superior
  • C. Managers must demand accountability from their subordinates
  • D. Resources have to be economized within the various divisions
View Answer & Discuss JAMB 2021

The main advantage of a sole trader is the freedom to?

  • A. employ anyone he likes
  • B. take quick decision
  • C. seek advise from any source
  • D. plough all the profits
View Answer & Discuss JAMB 2021