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 1271: A Digital Versatile Disk is an example of a Options:
  A) transmission control protocol
  B) microprocessor
  C) file transfer protocol
  D) computer storage device
  Show Answer
  The correct answer is D .
• Question 1272: Rights issue means the Options:
  A) issue of shares to the directors of a company on favourable terms
  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 favourable terms
  Show Answer
  The correct answer is D .
• Question 1273: Warehousing is important to manufacturers because it helps to? Options:
  A) improve the quality of goods
  B) produce goods in advance
  C) meet the demand of customers
  D) determine input rquirements
  Show Answer
  The correct answer is B .
• Question 1274: Drawing two parallel lines across a cheque means that it has to be paid into the account of the Options:
  A) payee
  B) drawer
  C) drawee
  D) payer
  Show Answer
  The correct answer is A .
• Question 1275: The most important benefit of insurance is that it provides? Options:
  A) control over activities
  B) the insured with a right to premium
  C) the insured with a right to full compensation
  D) protection against risks
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  The correct answer is D .
• Question 1276: Which of the following is used as a pricing policy? Options:
  A) Packaging
  B) Market selection
  C) Labelling
  D) Market skimming
  Show Answer
  The correct answer is D .
• Question 1277:

  A distinguishing characteristic of a limited liability company is that

  Options:
  A) is a collection of many sole proprietors
  B) is a multiple partnership
  C) has limited resources
  D) can sue and be sued
  Show Answer
  The correct answer is C .
• Question 1278: The insurance principle that requires full disclosure of information on the insured is known as Options:
  A) indemnity
  B) uberrimae fidei
  C) subrogation
  D) caveat emptor
  Show Answer
  The correct answer is B .
• Question 1279:

  Chibuzor agreed to make a dress for Hauwa with September 20, 1995 as the delivery date, if the dress was not ready on that date, Hauwa could

  Options:
  A) sue chibuzor for specific performance
  B) seize another gown from chibuzor's shop
  C) regard the contract between then as terminated
  D) sue chibuzor for damage
  Show Answer
  The correct answer is A .
• Question 1280: A loan to a customer with a cheque account at a bank in which the account is allowed to go into debit is Options:
  A) overdraft
  B) advance
  C) interest
  D) commission
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  The correct answer is A .