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 231: The principal objectives of the Central Bank of Nigeria can be classified broadly into? Options:
  A) bankers' bank lender of last resort and issuance of currency
  B) service, currency management and financial intermediation
  C) banking services, foreign exchange operations and open markets operations
  D) service, monetary policy and developmental functions
  Show Answer
  The correct answer is A .
• Question 232: The making of doors from timber planks is a type of? Options:
  A) manufacturing
  B) tertiary production
  C) secondary produuction
  D) primary production
  Show Answer
  The correct answer is C .
• Question 233: After-sales service is a function usually rendered by? Options:
  A) a retailer
  B) a wholesaler
  C) an agent
  D) an enterpreneur
  Show Answer
  The correct answer is A .
• Question 234: A wholesaler dealer in securities is known as a Options:
  A) stockborker
  B) speculator
  C) jobber
  D) stag
  Show Answer
  The correct answer is C .
• Question 235: Who is the offeree in this contract ? Options:
  A) Musa
  B) Audu
  C) Adamu
  D) Jacob
  Show Answer
  The correct answer is C .
• Question 236:

  The theory of International trade is based on_________

  Options:
  A) Principles of management
  B) Principles of comparative cost
  C) Principle of double entry
  D) Theory of migration
  Show Answer
  The correct answer is B .
• Question 237: The three components of staffing are? Options:
  A) recruitment, selection and placement
  B) recruitment, interview and appointment
  C) recruitment , test and placement
  D) recruitment, procurement and appointment
  Show Answer
  The correct answer is A .
• Question 238: The agency in Nigeria which ensures that products conform to government quality specifications is the? Options:
  A) Standards Organization of Nigeria
  B) Nigerian Consumers’ Association
  C) Manufacturers’ Association of Nigeria
  D) Nigerian Chamber of commerce
  Show Answer
  The correct answer is A .
• Question 239: At the collapse of a business enterprises, the person appointed to dispose off the assets is called ________? Options:
  A) an auctioneer
  B) a broker
  C) a liquidator
  D) an auditor
  Show Answer
  The correct answer is A .
• Question 240:

  The provision of qualified managerial and other skilled personnel for an enterprise is called

  Options:
  A) Directing
  B) Controlling
  C) Planning
  D) Staffing
  Show Answer
  The correct answer is D .