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 141: The insurance principle that allows an insurance an insurance company to take over the rights of the insured once he has been compensated is Options:
  A) indemnity
  B) proximate cause
  C) utmost good faith
  D) subrogation
  Show Answer
  The correct answer is D .
• Question 142: A group of specialized functions of marketing is Options:
  A) buying, selling, storing and information
  B) buyimg, selling, advertising and packaging
  C) buying, selling, labelling and promotion
  D) buying , selling, skimmimg and pricing
  Show Answer
  The correct answer is C .
• Question 143: 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
  Show Answer
  The correct answer is A .
• Question 144: In the case of a voluntary liquidation of a business the receivers is appointed by the by the Options:
  A) creditors
  B) debtors
  C) directors
  D) shareholders
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  The correct answer is A .
• Question 145:

  (i)Money and machines (ii) Materials and Money (iii)Market and Man.

  Which combination of the above are basic requirement as business resource?

  Options:
  A) i and ii
  B) ii and iii
  C) i and iv
  D) ii and iv
  Show Answer
  The correct answer is B .
• Question 146:

  The major objective of corporate mergers is to?

  Options:
  A) minimize the effect of taxation
  B) increase financial advantage
  C) enhance economies of sale
  D) facilitate profit maximization
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  The correct answer is C .
• Question 147: Loan schemes by thrift societies are? Options:
  A) mortage schemes
  B) conventional schemes
  C) mutual schemes
  D) unconventional schemes
  Show Answer
  The correct answer is C .
• Question 148:

  One of the factors which critically determines the choice of occupation is?

  Options:
  A) training
  B) skill
  C) aptitude
  D) interest
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  The correct answer is B .
• Question 149: Which of the following must be present in an agency by agreement? Options:
  A) intentions
  B) will
  C) consent
  D) authority
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  The correct answer is A .
• Question 150: In foreign trade, document of title is known as Options:
  A) bill of lading
  B) bill at sight
  C) certifiate of origin
  D) declaration form
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  The correct answer is A .