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 1221:

  

  Use the diagram above to answer the question below.

  As the branches indicate, IV is

  Options:
  A) commerce
  B) exchange
  C) finance
  D) construction
  Show Answer
  The correct answer is D .
• Question 1222: One type of investment that have a variable income is Options:
  A) debentures
  B) preferred shares
  C) government bonds
  D) ordinary shares
  Show Answer
  The correct answer is D .
• Question 1223: 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 1224: 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 1225: The letters E and OE stand for? Options:
  A) errors of exception
  B) errors and omissions expected
  C) estimate and order error
  D) end of error
  Show Answer
  The correct answer is B .
• Question 1226: In international trade, exchanging goods for other goods and services purchased instead of paying in foreign currency is known as? Options:
  A) counter trade
  B) balance of trade
  C) balance of payments
  D) terms of trade
  Show Answer
  The correct answer is A .
• Question 1227:

  One of the principles of insurance is

  Options:
  A) Proximate cause
  B) Fidelity guarantee
  C) Consequential loss
  D) Surrender value
  Show Answer
  The correct answer is A .
• Question 1228: One advantage of a crossed cheque is that it can? Options:
  A) only be paud into a savings account
  B) be cashed over the bank's counter
  C) only be paid into the owner's account
  D) be cashed by anyone
  Show Answer
  The correct answer is C .
• Question 1229: A transporter who had to sell some perishable goods without the prior authority of the owner becomes an agent by? Options:
  A) conduct
  B) necessity
  C) ratification
  D) estoppel
  Show Answer
  The correct answer is B .
• Question 1230:

  An example of a computer operating system is

  Options:
  A) the page maker
  B) windows 2000
  C) Microsoft word 2000
  D) the word perfect
  Show Answer
  The correct answer is B .