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 581: The document issued to a port authority when goods are deposited is a? Options:
  A) dock landing account
  B) bill of sight
  C) bill of lading
  D) dock warrant
  Show Answer
  The correct answer is D .
• Question 582: Risk bearing in business organisation is a function of the _____ Options:
  A) employees
  B) customers
  C) entrepreneur
  D) manager
  Show Answer
  The correct answer is C .
• Question 583:

  Which of these is not a merit of division of labour

  Options:
  A) results in specialization
  B) brings about an element of automation
  C) Training in new jobs is facilitated
  D) Creates monotony in the work force
  Show Answer
  The correct answer is D .
• Question 584: An economic activity which deals with natural resources is a form of? Options:
  A) extraction
  B) refining
  C) construction
  D) manufacturing
  Show Answer
  The correct answer is A .
• Question 585: Product involves Options:
  A) making goods avaiable where and when needed
  B) changing the form of goods, moving and making them avaiable as needed
  C) the manufacturing of goods and provision of services
  D) the assembling of all necessary parts to produce a finished product
  Show Answer
  The correct answer is B .
• Question 586: One of the functions of a retailer is the? Options:
  A) financing of production activities
  B) provision of credit facilities to relations
  C) provision of jobs for customers
  D) breaking of bulk
  Show Answer
  The correct answer is D .
• Question 587: A type of long-term loan granted to companies with fixed interest rate as well as with redeemable and irredeemable features is referred to as projects. Options:
  A) debenture
  B) a bond
  C) a term loan
  D) an overdraft
  Show Answer
  The correct answer is A .
• Question 588:

  A document which entitles its holder to the gods named on it, which is stored in a specific warehouse is called________

  Options:
  A) Debit note
  B) Credit note
  C) Warrant
  D) Shipping note
  Show Answer
  The correct answer is C .
• Question 589:

  The act of selling in a foreign market at a price lower than the cost price is called

  Options:
  A) Dumping
  B) hedging
  C) fair trading
  D) under sale
  Show Answer
  The correct answer is A .
• Question 590: The West African clearing House became legally operational on Options:
  A) 1st july, 1976
  B) 25th june, 1975
  C) 14th march, 1975
  D) 3rd may, 1974
  Show Answer
  The correct answer is A .