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 661: A broker is an agent who links a potential investor with? Options:
  A) a shareholder who wants to register a company
  B) other members of the exchange who want to trade
  C) governement official on the exchange
  D) a quoted company
  Show Answer
  The correct answer is D .
• Question 662: Which of the following is a limitation of division of labour? Options:
  A) Decline in craftmanship
  B) Monotony of work
  C) Reduction in output
  D) Reduction in labour force
  Show Answer
  The correct answer is D .
• Question 663: One of the functions of the Nigerian Ports Authority is that it Options:
  A) gives preferential treatment to Nigerian investors
  B) provides credit facilities to importers
  C) encourages the growth of infant industries
  D) provides warehosing facilities at the docks
  Show Answer
  The correct answer is D .
• Question 664: Excise duties are paid on goods that are Options:
  A) imported into the country
  B) manufactured within the company
  C) exported to other clonutries
  D) kept in bond warehouses
  Show Answer
  The correct answer is B .
• Question 665:

  Average stock is derived by adding

  Options:
  A) closing stock to purchase divided by 2
  B) closing stock to opening stock
  C) opening stock to closing stock divided by 2
  D) opening stock to purchases
  Show Answer
  The correct answer is C .
• Question 666: A document recording the transactions of an organization with its customer for a specified period which normally shows the indebtedness of one to the other is a Options:
  A) statement of account
  B) consular invoice
  C) proforma invoice
  D) statement affairs
  Show Answer
  The correct answer is A .
• Question 667: The main frame of selling directly to the consumers by manufacturers is to? Options:
  A) reduce transportation cost
  B) make contact with individual consumers
  C) discourage the activities of middlemen
  D) maximize profit margin
  Show Answer
  The correct answer is C .
• Question 668: A direct service is rendered by Options:
  A) State counsels
  B) Civil servants
  C) Police
  D) Family doctor
  Show Answer
  The correct answer is D .
• Question 669: The promotion of savings culture is a feature of a? Options:
  A) trade association
  B) consumers' cooperative society
  C) thirft cooperative society
  D) business association
  Show Answer
  The correct answer is C .
• Question 670: The main objective of a trade association is to Options:
  A) protect its members against litigation
  B) boost the trade of its members
  C) secure credit for its members
  D) protect its members against victimization
  Show Answer
  The correct answer is D .