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 1291: Commercial banks are referred to as departmental stores of banking because they Options:
  A) have many branches
  B) have many customers
  C) are found in the cities
  D) offer many types of services
  Show Answer
  The correct answer is D .
• Question 1292: Which of the following is a characteristic of a bearer cheque Options:
  A) it is made with transverse lines
  B) it is made payable to whoever presents it
  C) it is made without transverse lines
  D) it is only payable into the payees account
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  The correct answer is B .
• Question 1293: An underlined principle in the marketing of goods is that firms should Options:
  A) Train their personnel
  B) be consumers oriented
  C) advertise the goods
  D) sell through outlets
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  The correct answer is B .
• Question 1294: An aspect of marketing that stimulates buying by providing free gifts is? Options:
  A) advertising
  B) personal selling
  C) publicity
  D) sales promotion
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  The correct answer is D .
• Question 1295: Modern business philosophy emphasizes Options:
  A) quality products
  B) customer satisfaction
  C) sales volume
  D) public relations
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  The correct answer is B .
• Question 1296: Which of the following is the best method for computing working capital Options:
  A) Total assets less current liabilities
  B) Current liabilities less current assets
  C) Fixed liabilities less current assets
  D) Current assets less current liabilities
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  The correct answer is A .
• Question 1297: Which of the following requires payment into the payee's account? Options:
  A) Crossed cheque
  B) Traveller's cheque
  C) Open cheque
  D) Certified chegues
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  The correct answer is A .
• Question 1298: A basic concept of advertising that reveals the essential message an advertiser wishes to communicate is referred to as the Options:
  A) medium
  B) theme
  C) targer
  D) reach
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  The correct answer is A .
• Question 1299: The direct authority of a superior over his subordinate is known as Options:
  A) staff authority
  B) line authority
  C) line and staff authority
  D) office authority
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  The correct answer is B .
• Question 1300: An agent who takes title to goods and has authority to buy and sell on behalf of another is Options:
  A) A jobber
  B) A broker
  C) A factor
  D) An auctioneer
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  The correct answer is A .