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 1101: The letters E and OE stands for __________? Options:
  A) Errors of exception
  B) Errors and omissions excepted
  C) Estimated and order error
  D) End of error
  Show Answer
  The correct answer is B .
• Question 1102: The main factors militating against the rapid growth of trade in Nigeria are? Options:
  A) inadequate transportation network and huge capital outlay
  B) lack of motivation and government attitude towards trade
  C) lacks of good transportation network and insecurity of investment
  D) huge capital outlay and government attitude to trade
  Show Answer
  The correct answer is C .
• Question 1103: Product involves Options:
  A) making goods avaiable where and when needed
  B) changing the form of goods, moving and making them avaiable as needed
  C) the manufacturing of goods and provision of services
  D) the assembling of all necessary parts to produce a finished product
  Show Answer
  The correct answer is B .
• Question 1104:

  Transportation, retailing and wholesaling industries rely heavily on?

  Options:
  A) banking
  B) insurance
  C) manufacturing
  D) railway
  Show Answer
  The correct answer is C .
• Question 1105:

  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 1106: The concept of limiting types, sizes and other characteristics of a product line without sacrificing utility or durability is called Options:
  A) simplification
  B) standardization
  C) specialization
  D) satisficing
  Show Answer
  The correct answer is B .
• Question 1107: The internet is a system of telecommunications used for? Options:
  A) communicating long-distance messages
  B) sending and recieving text massages
  C) sending electronic messages
  D) communicating messages through telegrams
  Show Answer
  The correct answer is C .
• Question 1108: In the case of a voluntary liquidation of a business the receivers is appointed by the by the Options:
  A) creditors
  B) debtors
  C) directors
  D) shareholders
  Show Answer
  The correct answer is A .
• Question 1109:

  The activity which improves the appearance of a product and also aimed at protecting it is

  Options:
  A) advertising
  B) grading
  C) labelling
  D) packaging
  Show Answer
  The correct answer is C .
• Question 1110: One major disadvantage of a cartel is that it Options:
  A) maximizes productive efficiency
  B) brings the merging firms under control
  C) maximizes profit from operation
  D) eliminate competitions and waste
  Show Answer
  The correct answer is D .