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 1: The fees charged on postal order by the post office is _____? Options:
  A) interest
  B) brokerage
  C) poundage
  D) premium
  Show Answer
  The correct answer is C .
• Question 2: The pivot on the wheel of commerce rotates is Options:
  A) tariff
  B) trade
  C) taxation
  D) price
  Show Answer
  The correct answer is B .
• Question 3: An engineer in government employ is to be rendering? Options:
  A) primary service
  B) tertiary service
  C) indirect service
  D) direct service
  Show Answer
  The correct answer is C .
• Question 4: Drawing two parallel lines across a cheque means that it has to be paid into the account of the Options:
  A) payee
  B) drawer
  C) drawee
  D) payer
  Show Answer
  The correct answer is A .
• Question 5: An ancillary to trade which promotes socio - cultural development all over the world is Options:
  A) transportation
  B) communication
  C) tourism
  D) insurance
  Show Answer
  The correct answer is C .
• Question 6:

  A specially-designed mode of transport for conveying liquid and gas is a

  Options:
  A) coaster
  B) tanker
  C) liner
  D) ferry
  Show Answer
  The correct answer is B .
• Question 7: The unit through which result of a processed data are displayed is the? Options:
  A) logic unit
  B) display unit
  C) control unit
  D) output unit
  Show Answer
  The correct answer is D .
• Question 8: In response to an inquiry from a customer, a wholesaler is expected to send back Options:
  A) a consignment note
  B) an order
  C) a qoutation
  D) an advice note
  Show Answer
  The correct answer is C .
• Question 9: The fixed and current assets of a business are called? Options:
  A) called up capital
  B) capital employed
  C) paid-up capital
  D) authorized capital
  Show Answer
  The correct answer is B .
• Question 10:

  A distinguishing characteristic of a limited liability company is that

  Options:
  A) is a collection of many sole proprietors
  B) is a multiple partnership
  C) has limited resources
  D) can sue and be sued
  Show Answer
  The correct answer is C .