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 1381: Which of the following is a legal tender? Options:
  A) Cheque
  B) Travellers cheque
  C) Bank note
  D) Goldsmith receipt
  Show Answer
  The correct answer is C .
• Question 1382: The major source of income to commercial banks is? Options:
  A) tourism
  B) banking
  C) communication
  D) transportation
  Show Answer
  The correct answer is C .
• Question 1383:

  An author's exclusive right to his published and unpublished works is known as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 1384: The implied provisions in every sale of goods as contained in the Sales of Goods Act of 1893 are conditions and? Options:
  A) consideration
  B) sureties
  C) warranties
  D) guaranties
  Show Answer
  The correct answer is C .
• Question 1385: Which of the following organizations represents those who engages labour in Nigeria? Options:
  A) Nigerian Labour Congress
  B) Nigerian Employers Consultative Association
  C) Manufacturers Association of Nigeria
  D) Nigerian Union of Local Government Employees
  Show Answer
  The correct answer is A .
• Question 1386:

  One of the major problems of a sole proprietor is sourcing for

  Options:
  A) Funds
  B) Labour
  C) Raw materials
  D) Machineries
  Show Answer
  The correct answer is A .
• Question 1387: The type of communication from a superior to a subordinate in an organization is referred as? Options:
  A) horizontal communication
  B) lateral communication
  C) downward communication
  D) upward communication
  Show Answer
  The correct answer is C .
• Question 1388:

  Which of the following are the components of commerce?

  I Trading and advertising

  II Warehousing and transportation

  III Packaging and branding

  IV Insurance and banking

  Options:
  A) I and II
  B) I and III
  C) I, II and IV
  D) II, III and IV
  Show Answer
  The correct answer is C .
• Question 1389:

  Use the following information to answer this question.

  Oladosu Bookshop

  54, Ahmadu Bello Way

  Kaduna

  P.O.BOOX 336

  6 January 1989

  Olu Stationery ltd

  17, Kakawa Street

  Lagos

  Dear Sir,

  We require 200 pieces of 0.8mm fountain pens and 1000 pieces of plain single line 21cm × 18cm exercise books.

  Please give us quotes for the respective articles for immediate delivery and a statement of your terms of trade.

  Yours Faithfully

  Manager.

  The above represents?

  Options:
  A) A quotation
  B) Consignment notes
  C) Letters of Inquiry
  D) An order form
  Show Answer
  The correct answer is C .
• Question 1390:

  One of these is not a major in the production process?

  Options:
  A) Producers
  B) Distributors
  C) Marketers
  D) Consumers
  Show Answer
  The correct answer is C .