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 best described the scope of commerce Options:
  A) All forms of commercial exchanges relating to industry
  B) Buying and selling and the construction industry
  C) All occupational exchanges relating to industries and commercial activities
  D) Buying and selling as well as the extraction of natural resources
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  The correct answer is C .
• Question 772: Which of the following is a form of sales promotion Options:
  A) advertising on radio
  B) offering free sample
  C) distributing printed materials
  D) advertising on television
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  The correct answer is B .
• Question 773:

  Commerce is defined as

  Options:
  A) buying and selling of goods and services only
  B) all activities in the distribution and exchange of goods and services
  C) all activities involved in the production of goods and services
  D) transporting and warehousing of goods only
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  The correct answer is B .
• Question 774: A retail cooperative society aims at? Options:
  A) hoarding manufactured goods
  B) cutting off the profit of the middlemen
  C) lending money to members at a low interest rates
  D) encouraging members to save money
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  The correct answer is B .
• Question 775: The concept of limiting types, sizes and other characteristics of a product line without sacrificing utility or durability is called Options:
  A) simplification
  B) standardization
  C) specialization
  D) satisficing
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  The correct answer is B .
• Question 776: A protection right which can be reviewed or renewed after seven years is known as? Options:
  A) patent
  B) design
  C) registration name
  D) trade mark
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  The correct answer is A .
• Question 777: When a company uses more of loans than equity to finance its business, the company is said to be Options:
  A) bankrupt
  B) solvent
  C) highly geared
  D) in a strong liquid position
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  The correct answer is C .
• Question 778: A document which gives a legal status to a company is the certificate of? Options:
  A) incorporation
  B) trading
  C) commencement of business
  D) business registration
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  The correct answer is A .
• Question 779: The symbol at in an internet mail address is used to? Options:
  A) seperate the user name from the machine name
  B) link the user with other Internet users
  C) locate the addresses of Internet users
  D) link the user with the machine
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  The correct answer is B .
• Question 780: The Central Bank differs from commercial banks because it? Options:
  A) renders service to customers
  B) carries out foreign exchange transactions
  C) issues currencies
  D) discounts bills
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  The correct answer is C .