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 591: Which of the following legislation aims primarily at the protection of consumers? Options:
  A) Law of contract
  B) Trade description Act
  C) Company's Act
  D) Partnership Act
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  The correct answer is B .
• Question 592: The major aim of establishing a public corporation is to Options:
  A) establish a monopoly
  B) provide essential services
  C) provide employment opportunities
  D) encourage specialization
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  The correct answer is B .
• Question 593: A document sent by a seller to inform a buyer about the prices of goods is the? Options:
  A) catalogue
  B) price list
  C) credit note
  D) proforma invoice
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  The correct answer is B .
• Question 594: An aspect of the law which allows an exclusive right for a limited number of years is a Options:
  A) copyright
  B) trade mark
  C) raffication
  D) patent
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  The correct answer is D .
• Question 595: One of the determinants of choice of occupation is ______ Options:
  A) level of exposure
  B) resources control
  C) government policies
  D) peer group
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  The correct answer is D .
• Question 596:

  The factors which critically determines the choice of occupation is

  Options:
  A) Skill
  B) Training
  C) Aptitude
  D) Interest
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  The correct answer is A .
• Question 597: Public debt management is one of the functions of a? Options:
  A) merchant bank
  B) central bank
  C) commercial bank
  D) development bank
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  The correct answer is B .
• Question 598:

  On liquidation of a public limited liability company, the residual owners are the?

  Options:
  A) creditors
  B) debenture shareholders
  C) preference shareholders
  D) ordinary shareholder
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  The correct answer is D .
• Question 599:

  Which function of money is described in the following statement?

  It serves as a medium through which business transactions are carried out

  Options:
  A) Standard for deferred payments s
  B) Medium of exchange
  C) Store of value
  D) Unit of account
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  The correct answer is A .
• Question 600: Which of the following items has the shortest effect on the consumer Options:
  A) fashion
  B) innovation
  C) fad
  D) attribute
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  The correct answer is B .