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: The lumbering of trees by a furniture company is an example of Options:
  A) primary production
  B) secondary production
  C) tertiary production
  D) direct production
  Show Answer
  The correct answer is A .
• Question 592: A doctor who attends to patients at home after his official duty is? Options:
  A) a community develoment worker
  B) a direct service worker
  C) an indirect sevice worker
  D) a direct and an indirect sevice worker
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  The correct answer is B .
• Question 593: A public limited company can raise long-term loans through Options:
  A) the capital market
  B) the money market
  C) bank overdrafts
  D) discount houses
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  The correct answer is A .
• Question 594: Money can simply be referred to as a? Options:
  A) medium of exchange
  B) means for the settlement of debts
  C) durable assets for doing business
  D) standard of value
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  The correct answer is A .
• Question 595:

  The factors to be considered in setting up retail trade include all except_____

  Options:
  A) Capital
  B) Experience
  C) Location
  D) Age
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  The correct answer is D .
• Question 596: Marketing differs from selling in that,the latter only creates Options:
  A) possession utility
  B) marginal utility
  C) form utility
  D) place utility
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  The correct answer is A .
• Question 597: The term 4 net 7 on an invoice means that Options:
  A) 4% surcharge will be made unless payment is made within seven days
  B) 4% discount will be allowed on the price charged only if the good are bought within seven days
  C) 4% discount will be allowed on the price charge if payment is made after seven days
  D) 4% discount will be allowed on the price charged if payment is made price charged if payment is made price charged if payment is made within seven days.
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  The correct answer is D .
• Question 598:

  An association formed by computer distributors to safeguard and promote their interest is a

  Options:
  A) chamber of commerce
  B) cooperative society
  C) trade association
  D) trade union
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  The correct answer is C .
• Question 599: A bond which attracts only interest but leaves the capital unpaid is referred to as? Options:
  A) a long-term loan
  B) a develoment bond
  C) a redeemable bond
  D) an irredeemable bond
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  The correct answer is A .
• Question 600:

  Which of the following documents would a shareholder inspect to know his voting rights?

  Options:
  A) Articles of Association
  B) Certificate of Incorporation
  C) Certificate of Trading
  D) Memorandum of Association
  Show Answer
  The correct answer is A .