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:

  An arrangement by independent firms to share the market of their products on quota basics Is referred to as

  Options:
  A) Cartel
  B) Syndicate
  C) Trust
  D) Integration
  Show Answer
  The correct answer is A .
• Question 1132: The practice of assessing employees for payment or advancement according to their observed achievement is called Options:
  A) employee ranking
  B) merit rating
  C) job grading
  D) employee education
  Show Answer
  The correct answer is C .
• Question 1133:

  The transmission of the telephone services from one country to another is facilitated by

  Options:
  A) international facility
  B) internet services
  C) interconnectivity
  D) communication satellite
  Show Answer
  The correct answer is D .
• Question 1134: An agent must not make any secret profit in the performance of his duties but can be rewarded by his principal through Options:
  A) remuneration and indemnity
  B) payments of commision and salary
  C) granting of business concessions
  D) forwarding of business links
  Show Answer
  The correct answer is B .
• Question 1135: Which of the following industries is normally located near the source of its raw materials? Options:
  A) Footware industry
  B) Cement industry
  C) Textile industry
  D) Automobile assembly
  Show Answer
  The correct answer is B .
• Question 1136: 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 1137: The basic distinction between cash discount and trade discount is that while trade discount is Options:
  A) for a period of 30 days, cash discount is for a period of 3 months
  B) given by a wholesaler, cash discount is given by a bank
  C) a reduction in the catalogue pirce f an article, cash dis count is a reduction in the invoice value
  D) a reduction in the value of sales, cash discount is a reduction in price of goods
  Show Answer
  The correct answer is D .
• Question 1138:

  Rights issue means the?

  Options:
  A) issue of shares to the directors of a company.
  B) issue of shares by a company only to the founders of the company
  C) right of shareholders to vote on any issue
  D) issue of shares to shareholders on favorable terms
  Show Answer
  The correct answer is B .
• Question 1139: Communication enhances business activities by? Options:
  A) facilitating interaction between producers and consumers
  B) facilitating interaction among media houses
  C) ensuring the movement of goods from the producer to the consumer
  D) keeping the goods safe untill they are needed
  Show Answer
  The correct answer is A .
• Question 1140: The form of capital which is easily transferred into the form desired is known as? Options:
  A) working capital
  B) liquid capital
  C) circulating capital
  D) capital employed
  Show Answer
  The correct answer is C .