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 1431:

  One of the disadvantages of rail transport is

  Options:
  A) It is not flexible
  B) It carries bulky goods
  C) It works at intervals
  D) Cost of transportation is high
  Show Answer
  The correct answer is A .
• Question 1432: A distinguishing characteristic of labour is that it is Options:
  A) constant
  B) expensive
  C) mobile
  D) cost
  Show Answer
  The correct answer is C .
• Question 1433:

  Departmentalization is an aspect of

  Options:
  A) directing
  B) organizing
  C) planning
  D) controlling
  Show Answer
  The correct answer is B .
• Question 1434:

  When it becomes necessary to liquidate a company, the first step to be taken is the appointment of a?

  Options:
  A) a receiver
  B) an auditor
  C) an account
  D) a liquidator
  Show Answer
  The correct answer is D .
• Question 1435: (i) Companies must be registered as private limited liability companies. (ii)Companies must not have less than 100 shareholders (iii) No shareholder may have more than 75% of issued shared capital. What of the above are requirements for admission into the second-tier securities market? Options:
  A) i and ii only.
  B) i and iii only
  C) i, ii and iii only
  D) ii and iii only.
  Show Answer
  The correct answer is D .
• Question 1436: One of the most important function of marketing is? Options:
  A) encouraging research activitiesto meets needs
  B) creating classesof merchant among businessmen
  C) the extension of market for businessmen
  D) providing finances to business
  Show Answer
  The correct answer is A .
• Question 1437: In a public limited liability company, planning is carried out by? Options:
  A) the chairman of the board
  B) the board of directors
  C) shareholders
  D) employees
  Show Answer
  The correct answer is B .
• Question 1438: A cheque drawn by a bank official on the bank’s deposit in another bank on a customer’s deposit in another bank Options:
  A) Bank draft
  B) Bankers’ order
  C) Promissory note
  D) Travelers cheque
  Show Answer
  The correct answer is B .
• Question 1439: An agent who brings a customer into business contact with his principle is known as? Options:
  A) a del credere agent
  B) an auctioneer
  C) a factor
  D) a broker
  Show Answer
  The correct answer is D .
• Question 1440:

  Commerce is defined as

  Options:
  A) buying and selling of goods and services only
  B) all activities in the distribution and exchange of goods and services
  C) all activities involved in the production of goods and services
  D) transporting and warehousing of goods only
  Show Answer
  The correct answer is B .