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 1401: 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 1402:

  Which of the following organizations provide essential goods and services at low cost to citizens?

  Options:
  A) Thrift societies
  B) Public enterprises
  C) Private companies
  D) Cooperative societies
  Show Answer
  The correct answer is B .
• Question 1403:

  

  What are fixtures and fittings in a balance sheet?

  Options:
  A) liquid capital
  B) current assets
  C) fixed assets
  D) working capital
  Show Answer
  The correct answer is C .
• Question 1404:

  One advantage of small scale retail outlets is

  Options:
  A) availability of self service facilities
  B) ability to buy in bulk
  C) easy acess to large amount of capital
  D) personal attention to customers
  Show Answer
  The correct answer is D .
• Question 1405:

  Given:
  I. Retail
  II. Export
  III. Transport
  IV. Import
  V. Insurance
  VI. Banking and finance
  VII. Wholesale
  VIII. Communication.

  Which of the above are aids to trade?

  Options:
  A) III, V, VI and VIII
  B) I, II, III and VI
  C) I, III, V, and VI
  D) II, V, VI and VII
  Show Answer
  The correct answer is A .
• Question 1406:

  The incentive given to a buyer to encourage prompt payment is

  Options:
  A) cash discount
  B) seasonal discount
  C) quantity discount
  D) trade discount
  Show Answer
  The correct answer is A .
• Question 1407:

  The safe keeping of goods produced until they are needed is

  Options:
  A) hoarding
  B) marketing
  C) packaging
  D) warehousing
  Show Answer
  The correct answer is D .
• Question 1408: The major determinant of fire insurance premium is the Options:
  A) Owner of the property
  B) usefulness of the property to the owner
  C) Type and structure of the property to be insured
  D) extent of fire damaged anticipated.
  Show Answer
  The correct answer is C .
• Question 1409: In a staff-authority relationship, the opinion of a specialist in one department to another is Options:
  A) a directive
  B) an advice
  C) a command
  D) a delegation
  Show Answer
  The correct answer is B .
• Question 1410: 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 .