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: An association of voluntary organizations that work together for a common aim while retaining their independence is a Options:
  A) syndicate
  B) merger
  C) cartel
  D) consortium
  Show Answer
  The correct answer is C .
• Question 1272: Under normal circumstances, a business enterprise can be ideally structured Options:
  A) by product, function or territories
  B) around the personalities in the enterprise
  C) on the ruling of the management
  D) on the basis of an order from stockholders
  Show Answer
  The correct answer is A .
• Question 1273: The business organization that can effectively combine management with control is? Options:
  A) private limited liability company
  B) sole proprietorship
  C) public limited liability company
  D) co-operation society
  Show Answer
  The correct answer is B .
• Question 1274: When a firm speaker of stock appreciation, it refers to Options:
  A) change in the value of its stocks resulting from price movement
  B) increase in the price of it shared quoted on the stock exchange
  C) an unexpected increase in the demand of its stock
  D) the value of its stock in the stock exchange
  Show Answer
  The correct answer is C .
• Question 1275:

  An author's exclusive right to his published and unpublished works is known as

  Options:
  A) constitutional right
  B) author's right
  C) copyright
  D) patent right
  Show Answer
  The correct answer is C .
• Question 1276: The comparison of a country's visible and invisible exports and imports expressed in monetary term is? Options:
  A) balance of payment
  B) terms of trade
  C) balance of trdae
  D) terms of payment
  Show Answer
  The correct answer is C .
• Question 1277: When a buyer has been overcharged for goods supplied, the seller issues a _______? Options:
  A) debit note
  B) proforma invoice
  C) letter of credit
  D) credit note
  Show Answer
  The correct answer is D .
• Question 1278:

  Which of the following functions is not performed by warehousing?

  Options:
  A) Stabilization of price
  B) production ahead of demand
  C) creating scarcity of goods
  D) storage of goods
  Show Answer
  The correct answer is C .
• Question 1279: A major liability of a commercial bank arises from Options:
  A) customers' deposits
  B) loans and advances
  C) overdrafts
  D) staff allowance
  Show Answer
  The correct answer is A .
• Question 1280: Mrs Jones who lives in the riverine community of Rivers State makes her living through crabbing and fishing . This type of occupation she is in is Options:
  A) commercial
  B) manufacturing
  C) service
  D) extractive
  Show Answer
  The correct answer is D .