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 321: The cost which is incurred asa result of failure to load or unload a ship at the ports within a specified period is referred to as Options:
  A) demurrage charges
  B) premium charges
  C) excess charges
  D) trade charges
  Show Answer
  The correct answer is A .
• Question 322: The role of a wholesaler in the channel of distribution is to? Options:
  A) produce goods in large quantities and sell in small quantities
  B) buy goods directly from the manufacturers
  C) buy goods in large quantities and sell in small quantities
  D) sell goods directly to the consumers
  Show Answer
  The correct answer is C .
• Question 323:

  The internet is a system of telecommunication used for

  Options:
  A) The internet is a system of telecommunication used for
  B) Communicating long distance messages
  C) Sending and receiving text messages
  D) Communicating messages through telegrams
  Show Answer
  The correct answer is A .
• Question 324: A type of credit offered by both commercial and merchant banks in Nigeria is? Options:
  A) trade credit
  B) line of credit
  C) discounting facility
  D) overdraft
  Show Answer
  The correct answer is D .
• Question 325: The coordinating section of the central processing unit that manages the flow of data is the? Options:
  A) arithematic logic unit
  B) control unit
  C) magnetic unit
  D) register
  Show Answer
  The correct answer is B .
• Question 326: Funds used for paying wages, salaries and payments for raw materials are categorized under Options:
  A) liquid capital
  B) circulating capital
  C) fixed capital
  D) nominal capital
  Show Answer
  The correct answer is B .
• Question 327:

  Dealers in stock exchange such as bulls, bears and stags are categorized as

  Options:
  A) actuaries
  B) promoters
  C) speculators
  D) underwriter
  Show Answer
  The correct answer is C .
• Question 328: A guarantee given by one person or party to another in which the integrity of the person is assured is? Options:
  A) fidelity
  B) term assurance
  C) subrogation
  D) indemnity
  Show Answer
  The correct answer is A .
• Question 329: What is the role of the capital market in the privatization exercise in Nigeria? Options:
  A) Selling the shares and stocks of the companies to be privatized
  B) Encouraging private companies to participate in the exercise
  C) Negotiating with individuals who want to buy public companies
  D) Advertising for governement
  Show Answer
  The correct answer is A .
• Question 330: The line function in a typical manufacturing enterprise is normally performed by the Options:
  A) public relations department
  B) estate or properties department
  C) marketing department
  D) legal department
  Show Answer
  The correct answer is C .