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 191: A bus driver operating between Lagos and Jos pledged the owner's credit in Benin in order to have the engine repaired and the bill sent to the owner.This is a case of Options:
  A) del credere agency
  B) agency by necessity
  C) agency by rafication
  D) agency by estoppel
  Show Answer
  The correct answer is B .
• Question 192:

  Computer that process data in the form of values is

  Options:
  A) Digital
  B) Hybrid
  C) Digital-hybrid
  D) Analog
  Show Answer
  The correct answer is D .
• Question 193:

  The function of management that establish objectives for the organization and trying to determine the best ways to accomplish them

  Options:
  A) organizing
  B) planning
  C) directing
  D) controlling
  Show Answer
  The correct answer is B .
• Question 194: The major factors that facilitate merchandising are Options:
  A) commuincation , advertising and banking
  B) trading, warehousing and production
  C) management, insurance, and advertising
  D) banking, insurance and transportation
  Show Answer
  The correct answer is D .
• Question 195: Profit that is expressed as a percentage of the cost of goods sold is referred to as Options:
  A) margin
  B) mark-up
  C) gain percent
  D) gross profit
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  The correct answer is B .
• Question 196: A machine which enable s sales without the physical presence of a sales attendant is a Options:
  A) computer machine
  B) vending machine
  C) telex machine
  D) fax machine
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  The correct answer is B .
• Question 197: The scope of economic activities can be enlarged by Options:
  A) transportation and trading
  B) business and its promotion
  C) trading and aids to trade
  D) insurance and banking
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  The correct answer is C .
• Question 198: The assembling of products into usable forms is known as? Options:
  A) construction
  B) manufacturing
  C) formation
  D) creation
  Show Answer
  The correct answer is A .
• Question 199: The major difference between insurance and assurance is that while insurance Options:
  A) takes care of uncertainty, assurance takes care of risks
  B) takes care of risks , assurance takes care of uncertainty
  C) hinges on probabilities, assurance is based on possibilities
  D) is about indemnity, assurance is about life in the future
  Show Answer
  The correct answer is C .
• Question 200: The temporary working area of the central processing unit is called the? Options:
  A) C-D ROM
  B) C-D RAM
  C) ROM
  D) RAM
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  The correct answer is B .