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 1181:

  Thee major aim of consumer orientation is_________

  Options:
  A) consumer satisfaction
  B) consumer sovereignty
  C) what to produce
  D) market research
  Show Answer
  The correct answer is A .
• Question 1182: A minor is not permitted to enter into a valid contract because he Options:
  A) Cannot pay the consideration
  B) Is too young to interpret the law
  C) Is young in the eye of the law
  D) May not be able to write the contract
  Show Answer
  The correct answer is C .
• Question 1183: In foreign trade, document of title is known as Options:
  A) bill of lading
  B) bill at sight
  C) certifiate of origin
  D) declaration form
  Show Answer
  The correct answer is A .
• Question 1184: The process of dividing task into jobs and departments and of delegating authority is known as? Options:
  A) staffing
  B) leading
  C) directing
  D) organizing
  Show Answer
  The correct answer is D .
• Question 1185:

  A public company with an authorized capital of N60,000, issued N36,000 shares at 150k each.

  What is its capital?

  Options:
  A) N60,000
  B) N36,000
  C) N54,000
  D) N90,000
  Show Answer
  The correct answer is C .
• Question 1186: The major difference between insurance and assurance is that while insurance Options:
  A) takes care of uncertainty, assurance takes care of risks
  B) takes care of risks , assurance takes care of uncertainty
  C) hinges on probabilities, assurance is based on possibilities
  D) is about indemnity, assurance is about life in the future
  Show Answer
  The correct answer is C .
• Question 1187: A company that is registered with the corporate Affairs Commission only without being enlisted on the Stock Exchange is a? Options:
  A) public liability company
  B) joint venture company
  C) limited company
  D) registered company
  Show Answer
  The correct answer is D .
• Question 1188: The document submitted to the customs authority when full description of imported goods is not provided is Options:
  A) a bill of sight
  B) an invoice
  C) an indent
  D) a bill of entry
  Show Answer
  The correct answer is C .
• Question 1189: The act of a person employing another to enter into a contract on his behalf is known as? Options:
  A) business
  B) sale of goods
  C) bilateral agreement
  D) agency
  Show Answer
  The correct answer is D .
• Question 1190: Which of the following aspects of marketing stimulates buying by providing free gifts Options:
  A) a personal selling
  B) sales promotion
  C) advertising
  D) publicity
  Show Answer
  The correct answer is B .