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 most important factor that delayed the development of commerce in Nigeria was? Options:
  A) A.the inefficient means of communication
  B) that there were few entrepreneurs
  C) that there were few developed markets
  D) secondary production has to do with changing the?
  Show Answer
  The correct answer is C .
• Question 2: On liquidation of a public limited liability company, the residual owners are the Options:
  A) creditors
  B) ordinary shareholders
  C) preference shareholders
  D) debenture holders
  Show Answer
  The correct answer is B .
• Question 3: The implied provisions in every sale of goods as contained in the sale of goods act of 1893 are conditions and Options:
  A) Guaranties
  B) Warranties
  C) Sureties
  D) Consideration
  Show Answer
  The correct answer is B .
• Question 4: A bill of exchange already accepted can be discounted by the holder in? Options:
  A) the central bank
  B) at least two banks
  C) his bank
  D) any bank
  Show Answer
  The correct answer is D .
• Question 5:

  A distinctive advantage of GSM is its

  Options:
  A) cost
  B) stability
  C) coverage
  D) mobility
  Show Answer
  The correct answer is D .
• Question 6: Bank Giro is a method of settling debt from a Options:
  A) customer to a bank
  B) bank to customer
  C) customer to another
  D) bank to another
  Show Answer
  The correct answer is A .
• Question 7:

  The maximum number of shareholders in a public liability company is

  Options:
  A) One hundred
  B) Unlimited
  C) Fifty
  D) Twenty
  Show Answer
  The correct answer is B .
• Question 8:

  Which of these is not a merit of division of labour

  Options:
  A) results in specialization
  B) brings about an element of automation
  C) Training in new jobs is facilitated
  D) Creates monotony in the worktask
  Show Answer
  The correct answer is D .
• Question 9: A factor necessary for siting a warehouse is nearness to Options:
  A) raw materials
  B) labour
  C) capital
  D) consumers
  Show Answer
  The correct answer is D .
• Question 10:

  When does production ends?

  Options:
  A) When the goods are distributed to the wholesalers
  B) When the goods reaches the retailer
  C) When the goods reaches the final consumers
  D) When the goods are fully packaged
  Show Answer
  The correct answer is C .