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 1241:

  Which of these is not a merit of division of labour

  Options:
  A) results in specialization
  B) brings about an element of automation
  C) Training in new jobs is facilitated
  D) Creates monotony in the work force
  Show Answer
  The correct answer is D .
• Question 1242: The major problem encountered in international trade is that of Options:
  A) distance
  B) differences in culture
  C) politics
  D) differences in currency
  Show Answer
  The correct answer is D .
• Question 1243:

  A common requirement for public and private limited companies in Nigeria is that

  Options:
  A) a shareholder cannot transfer his shares to someone else without permission from other shareholders
  B) shares cannot be offered or sale on the stock exchange
  C) their annual accounts are made available to the corporate affairs commission
  D) shares can be offered for sale through an issuing house
  Show Answer
  The correct answer is C .
• Question 1244: A major hindrance to tourism growth in Nigeria is? Options:
  A) absence of genunie tour operators
  B) lack of tourism master plan
  C) inadequate tourist centres
  D) non-compliance to immigration laws
  Show Answer
  The correct answer is B .
• Question 1245: The type of activity which turns processed raw materials into consumer and industrial goods is described as ________ Options:
  A) extractive
  B) manufacturing
  C) constructive
  D) processing
  Show Answer
  The correct answer is B .
• Question 1246: The document which can be exchange for a bill of lading is? Options:
  A) freight note
  B) mate receipt
  C) export invoice
  D) ship report
  Show Answer
  The correct answer is A .
• Question 1247: The difference between a factor and a broker is that the former Options:
  A) is licensed to sell goods on auction
  B) has a lien on the goods he possesses
  C) is not in possession of the goods
  D) cannot sell in his own name
  Show Answer
  The correct answer is B .
• Question 1248: The components of capital employed in a business are? Options:
  A) owners' equity and long-term debts
  B) total assets and current liabilities
  C) share capital and long-term debts
  D) share capital and current liabilities
  Show Answer
  The correct answer is B .
• Question 1249: The placement of workers based on their qualifications can be categorized under Options:
  A) public sector
  B) skilled labour
  C) private sector
  D) unskilled labour
  Show Answer
  The correct answer is B .
• Question 1250: A major factor hindering effective communication process is? Options:
  A) climate condition
  B) social unrest
  C) distance
  D) noise
  Show Answer
  The correct answer is D .