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 631: One of the factors of determining the volume of production is Options:
  A) availablity of forex
  B) availability of storage facilities
  C) the location of the business
  D) the number of skilled manpower
  Show Answer
  The correct answer is B .
• Question 632: Which of the following statements is TRUE about sea transport? Options:
  A) all ships have specific routes to ply
  B) all ships must be insured at every journey
  C) all ships are insured separately from the crew
  D) all ships normally arrive at their destination with goods
  Show Answer
  The correct answer is C .
• Question 633:

  

  From the diagram above, what does I stand for?

  Options:
  A) Aids to trade
  B) Publicity
  C) Home trade
  D) Advertising
  Show Answer
  The correct answer is A .
• Question 634: The cheapest source of funds available to a company is through? Options:
  A) the sale of shares
  B) retained profits
  C) the sale of bonds
  D) lease financing
  Show Answer
  The correct answer is B .
• Question 635: One disadvantages of advertising is that it — Options:
  A) could be misleading
  B) decreases sales
  C) reduces profit
  D) causes over stocking
  Show Answer
  The correct answer is A .
• Question 636: Goods discharged from ships on which import duties have not been paid are kept in the Options:
  A) ordinary warehouse
  B) public warehouse
  C) private warehouse
  D) bonded warehouse
  Show Answer
  The correct answer is D .
• Question 637: The activity which entails buying of goods in bulk and selling in small quantities to retailers is? Options:
  A) assembling
  B) wholesaling
  C) retailing
  D) merchandising
  Show Answer
  The correct answer is B .
• Question 638: The difference between personal selling and sales promotion is that while sales promotion includes free gifts and samples, personal selling involves? Options:
  A) distributing instructional posters
  B) face-to-face communication with customers
  C) premium programming for customers
  D) publishing promotional booklets
  Show Answer
  The correct answer is B .
• Question 639: The sum of money paid by a policy-holder to an insurer is referred to as? Options:
  A) interest
  B) premium
  C) gross profit
  D) sales revenue
  Show Answer
  The correct answer is B .
• Question 640: The main document sent to an importer of goods by the exporter are? Options:
  A) invoice, consular invoice, certificate of orign, fright note, indent and insurance policy
  B) indent, bill of lading, certificate of orign, invoice and bill of exchange
  C) certificate of orign, bill of exchange, insurance policy, indent and bill of lading
  D) bill of lading, invoice insurance policy, consular invoice, certificate of orign and bill of exchange
  Show Answer
  The correct answer is D .