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 1131: The characteristics which ensures that money is free from forgery is its? Options:
  A) legality
  B) durability
  C) recongnition
  D) credibility
  Show Answer
  The correct answer is A .
• Question 1132: Tolu purchase goods from Yemisi and is to pay custom duties before collection. The goods are likely to be collected from. Options:
  A) a manufacturer's warehouse
  B) a bonded warehouse
  C) an importer's warehouse
  D) a wholesaler's warehouse
  Show Answer
  The correct answer is B .
• Question 1133: Business environment refers to all elements that are? Options:
  A) outside an organization but relevant to its operations
  B) inside an organization but irrelevant to its operations
  C) internal to an organization and relevant to its operations
  D) external to an organization but indirectly related to its operations
  Show Answer
  The correct answer is D .
• Question 1134: Stevedores as a term in foreign trade means men who Options:
  A) inspect goods in ships
  B) import goods by ships
  C) collect duties in ships
  D) load and unload ships
  Show Answer
  The correct answer is D .
• Question 1135: Which of the following is the best method for computing working capital Options:
  A) Total assets less current liabilities
  B) Current liabilities less current assets
  C) Fixed liabilities less current assets
  D) Current assets less current liabilities
  Show Answer
  The correct answer is A .
• Question 1136: A major advantage of a cooperative society is that it? Options:
  A) gives members the opportunity to unite
  B) draws members closer to government
  C) promotes awareness among members
  D) encourages thirft among members
  Show Answer
  The correct answer is D .
• Question 1137: The primary objectives of a trade association is to Options:
  A) undertake researchwork on behalf of members
  B) establish easy link with government
  C) exchange information and negotiate as a preasure group
  D) operat as a group against other groups
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  The correct answer is C .
• Question 1138: Land as a factor of production does not vary in? Options:
  A) quantity
  B) nature
  C) quality
  D) cost
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  The correct answer is A .
• Question 1139:

  Given: i. Retail ii. Export iii Transport iv. Import V. Insurance Vi. Banking and finance Vii. Wholesale Viii Communication.

  Which of the above is aid to trade?

  Options:
  A) i, ii, iii and Viii
  B) iii, V, Vi and Viii
  C) i, ii, iii and Vi
  D) ii, V,Vi, and Vii
  Show Answer
  The correct answer is B .
• Question 1140: Goods that are manufactured or acquired by the seller after the contract of sale are? Options:
  A) specialty goods
  B) future goods
  C) specific goods
  D) general goods
  Show Answer
  The correct answer is C .