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 921: The role of a wholesaler in the channel of distribution is to? Options:
  A) produce goods in large quantities and sell in small quantities
  B) buy goods directly from the manufacturers
  C) buy goods in large quantities and sell in small quantities
  D) sell goods directly to the consumers
  Show Answer
  The correct answer is C .
• Question 922: Hire purchase is advantageous to the seller in that Options:
  A) it elevates his living standard
  B) his turnover will increase
  C) people pay instalmentally
  D) it enhances high level of patronage
  Show Answer
  The correct answer is B .
• Question 923: Trade fairs in Nigeria are organised by Options:
  A) the Federal Government
  B) Manufacturers'' Association of Nigeria
  C) Ministry of Commerce and Industry
  D) Chambers of Commerce
  Show Answer
  The correct answer is D .
• Question 924: Drawing two parallel lines across a cheque means that it has to be paid into the account of the Options:
  A) payee
  B) drawer
  C) drawee
  D) payer
  Show Answer
  The correct answer is A .
• Question 925: The management function of evaluating whether objectives are being achieved is Options:
  A) planning
  B) directing
  C) organizing
  D) controlling
  Show Answer
  The correct answer is D .
• Question 926: Goods and services transferred from seller to buyer without immediate payment is referred to as ______ Options:
  A) hire purchase
  B) mutual understanding
  C) credit sale
  D) leasing
  Show Answer
  The correct answer is C .
• Question 927: Enter pot trade is said to have taken place when goods are? Options:
  A) held at the port payment of custom duty
  B) sold in the ship under special regulation
  C) imported and then re-export
  D) kept for further processing before sales
  Show Answer
  The correct answer is C .
• Question 928: A pro forma invoice is NOT required when Options:
  A) quoting for the supply of goods
  B) goods are sent on approval
  C) dealing regularly with a customer
  D) final prices are uncertain
  Show Answer
  The correct answer is C .
• Question 929: Which of the following best describes inputs for any production activity? Options:
  A) Natural resources
  B) Buessiness resources
  C) Human resources
  D) Material resources
  Show Answer
  The correct answer is A .
• Question 930: Which of the following is an item in the marketing mix? Options:
  A) Demand
  B) promotion
  C) market
  D) consumer
  Show Answer
  The correct answer is B .