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 771: Which of the following is a traditional medium of communication used to mark festivals? Options:
  A) Palm frond
  B) Metal gong
  C) Talking drum
  D) Gum blast
  Show Answer
  The correct answer is C .
• Question 772:

  (i)Money and machines (ii) Materials and Money (iii)Market and Man.

  Which combination of the above are basic requirement as business resource?

  Options:
  A) i and ii
  B) ii and iii
  C) i and iv
  D) ii and iv
  Show Answer
  The correct answer is B .
• Question 773: A common requirement for public and private limited companies in Nigeria is that Options:
  A) a shareholder cannot transfer his shares to someone else without permission from other shareholders
  B) their annual account are made available to the Corporate Affairs Commision
  C) shares can be offered for sale on the stock exchange
  D) shares can be offered for sale through an issuing house
  Show Answer
  The correct answer is B .
• Question 774: In international trade, documentary credit is also known as? Options:
  A) credit note
  B) letters of credit
  C) bankers' note
  D) letter of hypothecation
  Show Answer
  The correct answer is B .
• Question 775: The implied provisions in every sale of goods as contained in the sale of goods act of 1893 are conditions and Options:
  A) Guaranties
  B) Warranties
  C) Sureties
  D) Consideration
  Show Answer
  The correct answer is B .
• Question 776:

  A memory that can be read and write and is volatile is known as

  Options:
  A) RAM
  B) ROM
  C) EPROM
  D) EPPROM
  Show Answer
  The correct answer is A .
• Question 777: The object of the business are determined by the Options:
  A) workers
  B) government
  C) society
  D) promoters
  Show Answer
  The correct answer is C .
• Question 778:

  Nigerian Police Authority

  Options:
  A) Nigerian Police Authority
  B) Nigerian Ports Authority
  C) National Ports Authority
  D) National Police Authority
  Show Answer
  The correct answer is B .
• Question 779: 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 780: A partnership is dissolved when? Options:
  A) the business suffers a loss
  B) there is bankruptcy
  C) there is consistent theft
  D) there is misunderstanding between partners
  Show Answer
  The correct answer is B .