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 151: Communication is relevant to business activities because it Options:
  A) creates wealth for people
  B) reduces the cost and risk of travelling
  C) connects people
  D) enhances delivery of goods and servicess
  Show Answer
  The correct answer is B .
• Question 152:

  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.

  From the question above, the document the firm or organization will send to the buyer is

  Options:
  A) Delivery notes
  B) Advice notes
  C) An order form
  D) Quotations
  Show Answer
  The correct answer is D .
• Question 153: The most commonly used commercial documents are? Options:
  A) order notes, debit notes, invoices and quotations
  B) letters of enquiry, consignment notes, receipts and invoices
  C) credit notes, statement of accounts, depatch order and bills
  D) balance sheet, receipts, invoices and manifest
  Show Answer
  The correct answer is A .
• Question 154: Which of the following is the most important business resource? Options:
  A) money
  B) management
  C) materials
  D) manpower
  Show Answer
  The correct answer is D .
• Question 155: To eliminate middlemen, there should be a retail outlet such as Options:
  A) producer co-operative
  B) consumer co-operative
  C) multiple shop
  D) departmental store
  Show Answer
  The correct answer is C .
• Question 156: Who is the offeree in this contract ? Options:
  A) Musa
  B) Audu
  C) Adamu
  D) Jacob
  Show Answer
  The correct answer is C .
• Question 157: In business, the computer is very important especially in? Options:
  A) financial amnagement
  B) marketing management
  C) educational management
  D) information management
  Show Answer
  The correct answer is D .
• Question 158:

  An undertaking given by a person to another assuring his integrity is

  Options:
  A) proximate cause
  B) insurable interest
  C) fidelity guarantee
  D) subrogation
  Show Answer
  The correct answer is C .
• Question 159: One of the obstacles to achieving the objectives of ECOWAS is? Options:
  A) lack of a common currency
  B) colonial linkages
  C) sovereignty of states
  D) language differences
  Show Answer
  The correct answer is D .
• Question 160:

  The last link in a channel of distribution is the

  Options:
  A) wholesaler
  B) retailer
  C) consumer
  D) agent
  Show Answer
  The correct answer is C .