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 871: A major factor that affects business operations is Options:
  A) technology
  B) supply
  C) product
  D) rivalry
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  The correct answer is A .
• Question 872: The best mode of ensuring that items posted got to the named address through? Options:
  A) recorded delivery
  B) registered mail
  C) certificate of posting
  D) express mail
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  The correct answer is B .
• Question 873: Tolu purchase goods from Yemisi and is to pay custom duties before collection. The goods are likely to be collected from. Options:
  A) a manufacturer's warehouse
  B) a bonded warehouse
  C) an importer's warehouse
  D) a wholesaler's warehouse
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  The correct answer is B .
• Question 874: The type of wholesaler that combines selling, delivery and collection in one operation is Options:
  A) specialist wholesaler
  B) rack jobber
  C) drop shipment
  D) truck wholesaler
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  The correct answer is D .
• Question 875:

  The agency that currently oversees the privatization and commercialization process in Nigeria is the

  Options:
  A) Securities and Exchange Commission
  B) Technical Committee on privatization and commercialization
  C) Nigeria Stock Exchange
  D) Bureau of Republic Enterprises
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  The correct answer is D .
• Question 876:

  The resources put together to create goods and services are

  Options:
  A) working capital
  B) producer goods
  C) factors of production
  D) consumer goods
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  The correct answer is C .
• Question 877: Capital as a factor of production can be used as? Options:
  A) Money that is regarded as assets
  B) Goods that are useful in business
  C) Input for further production
  D) Services that provide satisfaction
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  The correct answer is C .
• Question 878: Production ends when goods and services ________ Options:
  A) reach the final consumer
  B) are used for manufacturing
  C) are packaged and labelled
  D) are sold to the middlemen
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  The correct answer is A .
• Question 879: Under normal circumstances, a business enterprise can be ideally structured Options:
  A) by product, function or territories
  B) around the personalities in the enterprise
  C) on the ruling of the management
  D) on the basis of an order from stockholders
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  The correct answer is A .
• Question 880: A bill of exchange paid before its due date at an amount less than its face value is said to have been Options:
  A) accepted
  B) rejected
  C) discounted
  D) dishonoured
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  The correct answer is C .