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 881: A pattern that shows the kinds of participants involved in the production, distribution and ultimate use of a product is referred to as? Options:
  A) selection
  B) strategy
  C) structure
  D) synergy
  Show Answer
  The correct answer is C .
• Question 882: The existing system of government and the administrative sub-division of a country which affect the operation of business in the country is described as Options:
  A) economic environment
  B) legal environment
  C) polictical environment
  D) social environment
  Show Answer
  The correct answer is C .
• Question 883: The part of the computer that has the capacity to interpret instruction is _______ Options:
  A) universal power storage
  B) central processing unit
  C) keyboard
  D) monitor
  Show Answer
  The correct answer is B .
• Question 884: Which of the following best describes an invoice? Options:
  A) Contractual agreement for the sale of goods
  B) Document specifying quantity, description, prices and total value of purchase .
  C) Receipt containing necessary information about the goods.
  D) Letter specifying the contractual sales of goods between two parties
  Show Answer
  The correct answer is B .
• Question 885:

  One of these is a current asset

  Options:
  A) Fittings
  B) Machineries
  C) Motor vehicles
  D) stock
  Show Answer
  The correct answer is D .
• Question 886:

  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 887: 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
  Show Answer
  The correct answer is B .
• Question 888: A partnership is dissolved due to ________ Options:
  A) liquidity of the firm
  B) death of the employee
  C) insanity of a partner
  D) resignation of an employee
  Show Answer
  The correct answer is C .
• Question 889: Which of the following is an example of trade associations? Options:
  A) European Union
  B) National Marketing Board
  C) Organization of African Unity
  D) National Farmers' Council
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  The correct answer is B .
• Question 890: A major benefit derivable from the privatization and commercialization of public enterprises in Nigeria is? Options:
  A) increase in wages
  B) employment generation
  C) information technology
  D) revenue generation
  Show Answer
  The correct answer is D .