Commerce JAMB, WAEC, NECO AND NABTEB Official Past Questions

From the following items purchased from Ndalempan Merchants Ltd, prepare an invoice to Osseh Builders Ltd

Jan. 8, 2014 , 200 buckets at D 100 each
 350 bags of cement at D 300 each
50 metres of electrical wire at D 80 per metre
120 boots at D 1200 per dozen
55 bags of nails at D 500 per bag

All are subject to 10% trade discount.

a) Mention Six countries that are members of ECOWAS.

b) State three factors that hinder the achievement of ECOWAS objectives.

c) List four objectives of the Niger Basin Commission.

a) State five services a commercial bank renders to customers.

b) List five duties of a customs authority.  

a) Mention Five benefits enjoyed by counties engaging in foreign trade.

b) Explain five measures taken by countries to correct an unfavourable balance of payment

a) Explain four ways a contract can be terminated.

b) State six duties of an agent to his principal.

​​​​a) List four elements that make up the external environment of business​​​​​​​

b) State two responsibilities each that a business owes the following:

• Customers;
• Employees;
• Investors;
• Society.

a) Indicate two differences between Articles of Association and Memorandum of Association.

b) State four advantages and four disadvantages of a public limited company.

a) What is transportation by pipeline?

b) Explain five benefits of transport by air.

c) State four factors to be considered by a producer in choosing an effective channel of distribution

 (a) Write the following commercial abbreviations in full:

(i) C.OD (ii) C.I.F (iv) E & O.E

(b) The sale of a good costing Le100,000 attracts a trade discount of 5% and a cash discount of 5%. You are required to calculate the:

(i) trade discount value

(ii) cash discount value

(iii) net amount payable by the buyer.  
 

Explain the following business terms:

(a) standing order

(b) bank draft

(c) legal tender

(d) money order

(e)I.O.U
 

 (a) Define advertising

(b) Explain four demerits of advertising

(c) Explain five different ways producers can create awareness for their goods and services 
 

 (a) State four features of a warehouse

(b) Explain six reasons why warehousing is important to a business 
 

(a) State five merits of co-operative societies

(b) Explain five procedure to be followed in the formation of a Private Limited Company 

Explain the following retail outlets:

(i) department store (ii) mobile shop (iii) chain store (iv) mail order business (v) supermarket 
 

(a) Define communication

(b) List six means of communication in business

(c) In what four ways is communication important to business? 
 

(a) What is E-Commerce

(b) State four advantages and four disadvantages of privatization 
 

Balance of payment deficit may be caused by?

which of the following bussinesses relies on government subvention for its operation?

one of the aims of ECOWAS is to?

The tranfer of government businesses to individuals is?

which of the following is a type of marine insurance.