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: A machine which enable s sales without the physical presence of a sales attendant is a Options:
  A) computer machine
  B) vending machine
  C) telex machine
  D) fax machine
  Show Answer
  The correct answer is B .
• Question 2: In a hire purchase agreement between Argungu Ltd and Maikudi, Argungu Ltd inserted provision that it can enter Maikudi’s premises at any time and remove the hired vehicle for any breach. This provision is Options:
  A) lawful to both
  B) unlawful to both
  C) beneficial to both
  D) detrimental to both
  Show Answer
  The correct answer is A .
• Question 3: The form of business financing which involves pledging of a specific asset is Options:
  A) debenture
  B) mortgage
  C) loan
  D) bond
  Show Answer
  The correct answer is B .
• Question 4:

  I. Wholesaler

  Ii. Fishing

  Iii. Canning

  Iv. Retailing

  The sequence in which the occupational activities above are performed is?

  Options:
  A) iii, ii, i and iv
  B) iii, i, iv and ii
  C) i, ii, iii and iv
  D) ii, iii, i and iv
  Show Answer
  The correct answer is D .
• Question 5: The difference between a private are public limited liability company is that the former Options:
  A) Is unable to declare and pay dividend.
  B) Has a higher number of share holder
  C) Is unable to offer shares to the public.
  D) pays higher salaries to its member
  Show Answer
  The correct answer is C .
• Question 6: Service which are of absolute monopoly can can best be proved by Options:
  A) private companies
  B) limited liability companies
  C) public companies
  D) public enterprises
  Show Answer
  The correct answer is D .
• Question 7: An example of extractive occupation is ______ Options:
  A) mining
  B) teaching
  C) banking
  D) driving
  Show Answer
  The correct answer is A .
• Question 8:

  A disadvantage of personal selling is that it

  Options:
  A) Increase a company’s number of customers
  B) Reduces a company area of patronage
  C) Increases a company’s operating costs
  D) Decreases a company’s operating costs
  Show Answer
  The correct answer is C .
• Question 9: Warehousing is important to manufacturers because it helps to? Options:
  A) improve the quality of goods
  B) produce goods in advance
  C) meet the demand of customers
  D) determine input rquirements
  Show Answer
  The correct answer is B .
• Question 10:

  The law by which a seller transfers the property in goods to a buyer at an agreed price is the

  Options:
  A) Weights and Measure Act
  B) Trade Description Act
  C) Sale of Goods Act
  D) Foods and Drugs Act
  Show Answer
  The correct answer is C .