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 791: The sole legal right held by the author to publish his book is Options:
  A) trademark
  B) copyright
  C) patent right
  D) bookmark
  Show Answer
  The correct answer is B .
• Question 792: A contract can be terminated through Options:
  A) physical combat
  B) family intervention
  C) frustration
  D) consultation
  Show Answer
  The correct answer is C .
• Question 793: The basic elements of a valid contract are Options:
  A) offer, acceptance, consideration and witness
  B) offer, intention, acceptance and legality
  C) offer, acceptance, intention, capacity and legality
  D) offer, acceptance, capacity, legality and consideration
  Show Answer
  The correct answer is D .
• Question 794: A current account holder pays fees for services in form of Options:
  A) bank charges
  B) interest rates
  C) commission on turnover
  D) minimum lending rate
  Show Answer
  The correct answer is A .
• Question 795: Modern means of payment is greatly facilitated by Options:
  A) e-commerce
  B) paper money
  C) e-banking
  D) credit transfer
  Show Answer
  The correct answer is C .
• Question 796: When an industry or company is nationalized, the state becomes Options:
  A) the major shareholder
  B) the mini shareholder
  C) the only shareholder
  D) an equal shareholder with other individuals
  Show Answer
  The correct answer is C .
• Question 797:

  A number of shipping lines operating on a certain route, which agree on a common policy regarding the conditions under which goods are to be carried

  Options:
  A) Cartel
  B) Conference
  C) Syndicate
  D) Trust
  Show Answer
  The correct answer is B .
• Question 798: After-sales service is a function usually rendered by? Options:
  A) a retailer
  B) a wholesaler
  C) an agent
  D) an enterpreneur
  Show Answer
  The correct answer is A .
• Question 799: Departmentalization is an aspect of? Options:
  A) planing
  B) organising
  C) directing
  D) controlling
  Show Answer
  The correct answer is B .
• Question 800: The body charged with divesting government interests in public enterprises is? Options:
  A) SON
  B) NPC
  C) BPE
  D) NDE
  Show Answer
  The correct answer is C .