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:

  What are the factors with which commercial undertaking can be distinguish?

  I Size of the undertaking

  II Profits generated

  III Forms of ownership

  IV Location of the undertaking

  Options:
  A) I and II only
  B) I andIII only
  C) II and III only
  D) III and IV only
  Show Answer
  The correct answer is B .
• Question 192: The body that organizes, promotes and participates in local and foreign trade fairs is the Options:
  A) Ministry of Commerce and Tourism
  B) Ministry of finance
  C) Chambers of Commerce
  D) Export Promotion Council
  Show Answer
  The correct answer is C .
• Question 193: The most important advantage of personal selling is that it Options:
  A) allows sellers to percieve buyers' needs
  B) allows sellers to sell their goods quickly
  C) takes place easily on the high ways
  D) takes place without the permissionof government
  Show Answer
  The correct answer is A .
• Question 194: Unresolved disputes between the employer and employees are usually referred to the? Options:
  A) code of conduct bureau
  B) personnel unit
  C) disciplinary committee
  D) industrial arbitration tribunal
  Show Answer
  The correct answer is D .
• Question 195: A common requirement for public and private limited companies in Nigeria is that Options:
  A) a shareholder cannot transfer his shares to someone else without permission from other shareholders
  B) their annual account are made available to the Corporate Affairs Commision
  C) shares can be offered for sale on the stock exchange
  D) shares can be offered for sale through an issuing house
  Show Answer
  The correct answer is B .
• Question 196:

  The difference between a chamber of commerce and a trade association is that the former

  Options:
  A) is not restricted to a particular industry
  B) is a branch of trade that sells product
  C) consists of members engaged in the same trade
  D) are association of individuals or firms
  Show Answer
  The correct answer is A .
• Question 197: The bank that discount bills of exchange is the? Options:
  A) central bank
  B) mortage bank
  C) development bank
  D) comercial bank
  Show Answer
  The correct answer is D .
• Question 198: One of the criteria for differentiating consumers markets from industrial ones is the Options:
  A) type of demand
  B) type of supply
  C) nature of the services rendered
  D) price of the goods
  Show Answer
  The correct answer is A .
• Question 199: Commission on turnover is usually a benefit accruable to the Options:
  A) drawer
  B) drawee
  C) payer
  D) payee
  Show Answer
  The correct answer is D .
• Question 200: The most effective type of advertising for branded products is Options:
  A) mass advertising
  B) persuasive advertising
  C) informative advertising
  D) competitive advertising
  Show Answer
  The correct answer is C .