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 331: The major condition for obtaining loan in thrift, credit and loans cooperative societies is Options:
  A) provision of collateral security
  B) a high level of education
  C) possesssion of a large business
  D) an approved project plan
  Show Answer
  The correct answer is A .
• Question 332: Good and services are made available to consumers through Options:
  A) the channnel of distribution
  B) sales promotion
  C) the advertising agency
  D) the middle men
  Show Answer
  The correct answer is A .
• Question 333: Which of the following is both direct and indirect credit enterprise? Options:
  A) A co-operative and thrift society
  B) retail co-operative society
  C) consumer co-operative society
  D) wholesaler co-operative society
  Show Answer
  The correct answer is A .
• Question 334: A document which serves as an order with details of goods required by an intending purchaser is Options:
  A) a freight note
  B) an indent
  C) a bill of landing
  D) a way bill
  Show Answer
  The correct answer is B .
• Question 335:

  The assembling of Manufactured products into forms usable by humans is classified as

  Options:
  A) Extraction occupation
  B) Construction occupation
  C) Manufacturing occupation
  D) Industrial occupation
  Show Answer
  The correct answer is B .
• Question 336: Nationalization of an industry means that its ownership becomes that of Options:
  A) government
  B) shareholders
  C) taxpayers
  D) indigenes
  Show Answer
  The correct answer is A .
• Question 337:

  A partnership may be automatically dissolved due to the following factors except________

  Options:
  A) Court verdict
  B) Joint decision
  C) Admission of new partners
  D) Bankruptcy of a partner
  Show Answer
  The correct answer is C .
• Question 338: A documentary bill will normally be accompanied by Options:
  A) . sales invoice, bill of lading and insurance certificate
  B) clean bill, bill of lading, and insurance certificate
  C) bill of lading, consular invoice, and insurance certificate
  D) consular invoice, FOB certificate and bill of lading
  Show Answer
  The correct answer is D .
• Question 339: A new company requiring a large amount of equity finance may source funds from the? Options:
  A) capital market
  B) central bank
  C) money market
  D) commercial banks
  Show Answer
  The correct answer is D .
• Question 340:

  A disadvantage of personal selling is that it

  Options:
  A) Increase a company’s number of customers
  B) Reduces a company area of patronage
  C) Increases a company’s operating costs
  D) Decreases a company’s operating costs
  Show Answer
  The correct answer is C .