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: Management is described as Options:
  A) getting things done through people
  B) implementing of business decision
  C) the numbers of levels in an organization
  D) the people in authority in an organization
  Show Answer
  The correct answer is B .
• Question 1032:

  The part of issued share capital that the company has asked the subscribers to pay for

  Options:
  A) authorised capital
  B) called-up capital
  C) nominal capital
  D) paid-up capital
  Show Answer
  The correct answer is B .
• Question 1033: When a price is quoted at F.O.B. it means that the price? Options:
  A) excludes loading charges incurred in bringing the goods to port of destinction
  B) exclude all necessary shipping charges payable for insurrance
  C) includes all charges payable on shipping a consignment to the port destination
  D) includes charges payable for for loading goods onto the ship
  Show Answer
  The correct answer is C .
• Question 1034: One of the merits of television as a medium of of advertising is that it? Options:
  A) is prone to censorship
  B) is relatively cheap
  C) has more sensory stimulation
  D) has more network coverage
  Show Answer
  The correct answer is C .
• Question 1035: The major participants in the stock market when stock prices are rising generally are the? Options:
  A) bulls
  B) registrars
  C) bears
  D) companies
  Show Answer
  The correct answer is A .
• Question 1036: Cooperation and friendliness are enhanced among nations through interdependence necessitated by Options:
  A) tourism
  B) commerce
  C) agriculture
  D) socio-cultural activities
  Show Answer
  The correct answer is B .
• Question 1037: The document that gives an importer a freehand to obtain goods from any manufacturer is? Options:
  A) a consular invoice
  B) a closed indents
  C) an open indent
  D) a freight note
  Show Answer
  The correct answer is C .
• Question 1038: A document sent by a seller to inform a buyer about the prices of goods is the? Options:
  A) catalogue
  B) price list
  C) credit note
  D) proforma invoice
  Show Answer
  The correct answer is B .
• Question 1039: The document which can be exchange for a bill of lading is? Options:
  A) freight note
  B) mate receipt
  C) export invoice
  D) ship report
  Show Answer
  The correct answer is A .
• Question 1040: The payment for direct service is usually made by the Options:
  A) local authority
  B) community
  C) government
  D) individual
  Show Answer
  The correct answer is D .