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: Which of the following maxims negate the principle of collective bargaining? Options:
  A) individual employees have weak bargaining base
  B) individual employees attain strength when they come together in union
  C) only members of the union can benefit from agreements negotiated by the union
  D) collective bargainig covers the vast majority of employees, whether union members or not
  Show Answer
  The correct answer is C .
• Question 602: Which of the following is classified as an immaterial want? Options:
  A) Protection
  B) Raw materials
  C) Machines
  D) Goods and Services
  Show Answer
  The correct answer is A .
• Question 603: Freight note is a document Options:
  A) used by government to transport goods from one country to another
  B) issued by a shipping company giving details of charges
  C) used for payment for imported goods
  D) given by an importer to pay for goods at a future period
  Show Answer
  The correct answer is B .
• Question 604: The type of communication from a superior to a subordinate in an organization is referred as? Options:
  A) horizontal communication
  B) lateral communication
  C) downward communication
  D) upward communication
  Show Answer
  The correct answer is C .
• Question 605: A historical building is a feature of? Options:
  A) cultural tourism
  B) industrial tourism
  C) agricultural tourism
  D) ecological tourism
  Show Answer
  The correct answer is A .
• Question 606: Selling goods in foreign countries at price below their marginal cost is? Options:
  A) dumping
  B) depreciation
  C) devaluation
  D) discounting
  Show Answer
  The correct answer is A .
• Question 607: Sabo and Gambo entered into a contract for the sale of two baskets of tomatoes belonging to Gambo. Before the date the date of delivery and without any default by Gambo, the tomatoes were stolen. This is an example of termination of contract by Options:
  A) breach
  B) performance
  C) fault
  D) frustration
  Show Answer
  The correct answer is D .
• Question 608:

  Mr. Olatunde took up a fire insurance on a property valued at ₦1000 and the amount insured is ₦80. Thee ₦400. If the property caught fire causing a loss of insurance was taken with the clause with average what is the amount to be paid bý the insurance company?

  Options:
  A) ₦420
  B) ₦320
  C) ₦460
  D) ₦560
  Show Answer
  The correct answer is B .
• Question 609: Debentures differ from shares in that Options:
  A) they are secured on the company's assets
  B) ownership is open to the public
  C) they form part of the capital of the business
  D) rewards are usually paid out of profits
  Show Answer
  The correct answer is A .
• Question 610:

  An International organisation that influence and fix the price of oil in the International markets is

  Options:
  A) IMF
  B) ECOWAS
  C) OPEC
  D) OAU
  Show Answer
  The correct answer is C .