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 511: The form of capital which is easily transferred into the form desired is known as? Options:
  A) working capital
  B) liquid capital
  C) circulating capital
  D) capital employed
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  The correct answer is C .
• Question 512: The instrument establishing the Economic Community of West African State in 1975 is Options:
  A) a decree
  B) an act
  C) a treaty
  D) constitution
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  The correct answer is C .
• Question 513: One of the functions of the Nigeria Ports Authority is the provision of? Options:
  A) facilities to enhance the speedy loading and offloading of cargoes
  B) facilities to ensure that goods get to their destinations
  C) shelter for operators of cargoes
  D) courier services to ensure speedy delivery
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  The correct answer is A .
• Question 514: A trade association consists of members engaged in the same trade while a chamber of commerce is? Options:
  A) highly regulated by agovernent agency
  B) not restricted on a particular industry
  C) made up of members that are registered
  D) made up of firms in the banking industry
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  The correct answer is B .
• Question 515: Which of these companies offers after-sales services? Options:
  A) iv
  B) iii
  C) ii
  D) i
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  The correct answer is C .
• Question 516: The process of converting a non-profit making organisation to a profit-making business is ________? Options:
  A) indigenisation
  B) privatisation
  C) deregulation
  D) commercialisation
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  The correct answer is B .
• Question 517: The primary objective of a business organization is to Options:
  A) cater for the neds of its owners
  B) work towards making returns
  C) assist the government to serve the citizens
  D) improve the standard of living of its proprietors
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  The correct answer is B .
• Question 518: A basic concept of advertising that reveals the essential message an advertiser wishes to communicate is referred to as the Options:
  A) medium
  B) theme
  C) targer
  D) reach
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  The correct answer is A .
• Question 519: 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
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  The correct answer is B .
• Question 520: In every simple contract, the price which is paid to purchase a promise is called Options:
  A) offeree
  B) acceptance
  C) consideration
  D) representation
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  The correct answer is C .