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 571: The fixed and current assets of a business are called? Options:
  A) called up capital
  B) capital employed
  C) paid-up capital
  D) authorized capital
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  The correct answer is B .
• Question 572: Which of the following confirms the accuracy of the duty charged on imported goods? Options:
  A) An indent
  B) Consular invoice
  C) Consignment note
  D) Shipping note
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  The correct answer is B .
• Question 573:

  Sea vessels that do not operate on regular times and routes are

  Options:
  A) tramps
  B) ocean liners
  C) container ships
  D) ferries
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  The correct answer is B .
• Question 574: Hire purchase is beneficial to the seller because? Options:
  A) it enhances his living standard
  B) it increases his turnover
  C) people pay instalmentally
  D) of the patronage he enjoys
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  The correct answer is B .
• Question 575:

  A specially-designed mode of transport for conveying liquid and gas is a

  Options:
  A) coaster
  B) tanker
  C) liner
  D) ferry
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  The correct answer is B .
• Question 576: The main advantage of using cinema as an advertising medium is that it is Options:
  A) cheap
  B) accurate
  C) accessible
  D) informative
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  The correct answer is C .
• Question 577: The process whereby a firm directs its marketing efforts towards a single market by the use of a particular marketing mix isreferred to as Options:
  A) concentration segmentation
  B) market concept
  C) consumer orientation
  D) market penetration
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  The correct answer is D .
• Question 578: In foreign trade, document of title is known as Options:
  A) bill of lading
  B) bill at sight
  C) certifiate of origin
  D) declaration form
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  The correct answer is A .
• Question 579: Which of the following services does a lawyer render? Options:
  A) industrial services
  B) indirect services
  C) direct services
  D) commercial services
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  The correct answer is C .
• Question 580: In a public limited liability company, planning is carried out by? Options:
  A) the chairman of the board
  B) the board of directors
  C) shareholders
  D) employees
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  The correct answer is B .