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 1031: The most important function of commerce is? Options:
  A) helping people to improve thir profits
  B) facilitaing exchanges among indiviuals and firms
  C) assisting trade through banking and insurance
  D) enhancing business relationships
  Show Answer
  The correct answer is B .
• Question 1032: The placement of workers based on their qualifications can be categorized under Options:
  A) public sector
  B) skilled labour
  C) private sector
  D) unskilled labour
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  The correct answer is B .
• Question 1033:

  The business organisation in which shareholders have equal votes is?

  Options:
  A) sole proprietorship
  B) partnership
  C) cooperative
  D) limited liability company
  Show Answer
  The correct answer is C .
• Question 1034: Which of the following is the most important business resource? Options:
  A) money
  B) management
  C) materials
  D) manpower
  Show Answer
  The correct answer is D .
• Question 1035: A chamber of commerce is an association made up of Options:
  A) enterpreneurs
  B) manufacturers
  C) merchants
  D) importers
  Show Answer
  The correct answer is A .
• Question 1036: A floating policy is an example of? Options:
  A) marine insurance
  B) actuaries insurance
  C) motor insurance
  D) fire insurance
  Show Answer
  The correct answer is B .
• Question 1037: The central focus of commercial activities is? Options:
  A) pricing
  B) advertising
  C) trading
  D) marketing
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  The correct answer is C .
• Question 1038:

  When does the buyer in a hire purchase becomes the owner of the goods?

  Options:
  A) When all installments have been fully paid
  B) After payment of the first installment
  C) Before the payment of the first installment
  D) When half of the purchased price has been paid
  Show Answer
  The correct answer is A .
• Question 1039: Balance of payments is made up of? Options:
  A) visible and current items
  B) invisible and capital items
  C) current and capital items
  D) visible and invisible items
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  The correct answer is C .
• Question 1040:

  An author's exclusive right to his published and unpublished works is known as

  Options:
  A) constitutional right
  B) author's right
  C) copyright
  D) patent right
  Show Answer
  The correct answer is C .