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 601: Most foreign trade transaction are paid for through the use of Options:
  A) central bank cheques
  B) bank drafts drawn by commercial banks on their foreign branches
  C) irrevocable and confirmed letters of credit
  D) letters of credit authenticated by the embassies of the respective countries
  Show Answer
  The correct answer is C .
• Question 602: The letters E and OE stands for __________? Options:
  A) Errors of exception
  B) Errors and omissions excepted
  C) Estimated and order error
  D) End of error
  Show Answer
  The correct answer is B .
• Question 603:

  A form of money that has gone out of use is ?

  Options:
  A) commodity money
  B) bank money
  C) paper money
  D) foreign money
  Show Answer
  The correct answer is A .
• Question 604:

  The assembling of Manufactured products into forms usable by humans is classified as

  Options:
  A) Extraction occupation
  B) Construction occupation
  C) Manufacturing occupation
  D) Industrial occupation
  Show Answer
  The correct answer is B .
• Question 605: The placement of workers based on their qualifications can be categorized under Options:
  A) public sector
  B) skilled labour
  C) private sector
  D) unskilled labour
  Show Answer
  The correct answer is B .
• Question 606: The temporary insurance certificate issued to the insured before drawing up a policy is a? Options:
  A) cover note
  B) testimonial
  C) time policy
  D) proposal form
  Show Answer
  The correct answer is A .
• Question 607: Personnel activities that promote the general image of an organization are part of Options:
  A) advertising
  B) sales promotion
  C) public relations
  D) business correspondence
  Show Answer
  The correct answer is C .
• Question 608:

  A responsibility to control environmental pollution is the responsibility of____

  Options:
  A) The business
  B) The government
  C) The consumer
  D) The employee
  Show Answer
  The correct answer is A .
• Question 609: The rewards of rents, wages, interests and profits accrue from? Options:
  A) capital, labour, land and enterpreneur respectively
  B) land, enterpreneur,labour and capital respectively
  C) land, lbour, capital and enterpreneur respectively
  D) labour, enterpreneur, land and capital respectively
  Show Answer
  The correct answer is C .
• Question 610: One of the implications of the incorporation of a company is that Options:
  A) it is more difficult for the company to raise loans
  B) the company can sue but cannot be sued
  C) the company's property becomes distinguished from that of its members
  D) its members become liable for all the debts of the company
  Show Answer
  The correct answer is C .