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 851:

  A two-way process which involves sending and receiving of messages is referred to as__________

  Options:
  A) Advertisement
  B) Communication
  C) Marketing
  D) Transportation
  Show Answer
  The correct answer is B .
• Question 852: A major liability of a commercial bank arises from Options:
  A) customers' deposits
  B) loans and advances
  C) overdrafts
  D) staff allowance
  Show Answer
  The correct answer is A .
• Question 853: Authorized share capital is also known as? Options:
  A) called-up share capital
  B) paid-up share
  C) registered share capital
  D) issued share capital
  Show Answer
  The correct answer is C .
• Question 854:

  The central working system of a computer used for data processing is the

  Options:
  A) monitor
  B) floppy disk drive
  C) hard drive
  D) memory unit
  Show Answer
  The correct answer is D .
• Question 855: The protection of consumers against exploitation by manufacturers is to ensure? Options:
  A) thaty there are varieties of product
  B) that the right quality of goods and services is sold
  C) increase in production capacity
  D) increase in the level of consumers awareness
  Show Answer
  The correct answer is B .
• Question 856: The type of marine insurance which covers either damage or loss to the vessel and such as caused by it to other vessel is? Options:
  A) hull insurance
  B) time insurance
  C) freight insurance
  D) cargo insurance
  Show Answer
  The correct answer is A .
• Question 857: The form of capital which is easily transferred into the form desired is known as? Options:
  A) working capital
  B) liquid capital
  C) circulating capital
  D) capital employed
  Show Answer
  The correct answer is C .
• Question 858: Another name or term for a dishonoured cheque is ______ Options:
  A) an order cheque
  B) a bounced cheque
  C) a bearer cheque
  D) an open cheque
  Show Answer
  The correct answer is B .
• Question 859: The government agency involved in issuing of export licences is _______? Options:
  A) Nigeria Export Processing Zone
  B) Nigeria Export Promotion council
  C) Nigeria Port Authority
  D) Customs and Excise Authority
  Show Answer
  The correct answer is B .
• Question 860: In the transportation industry, dead freight is used to describe the Options:
  A) cost paid for an empty space left in the ship
  B) charge for each day a performance was delayed
  C) persons that hire a ship for a specific purpose
  D) cost of shipping a particular cargo for a specific voyage
  Show Answer
  The correct answer is A .