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 941:

  

  Use the diagram above to answer the question below.

  As the branches indicate, IV is

  Options:
  A) commerce
  B) exchange
  C) finance
  D) construction
  Show Answer
  The correct answer is D .
• Question 942: A person who is cheated in business transaction can seek legal remedy Options:
  A) even if the agreement is verbal and the amount involved is large
  B) only if the business is a sole proprietorship whose owner is known
  C) regardless of the form of business organization
  D) only if the transaction is documented in a contract
  Show Answer
  The correct answer is D .
• Question 943: The principle of management that emphasizes on the number of subordinates under the direct supervision of a manager is Options:
  A) span of control
  B) unity of command
  C) scalar chain
  D) unity of direction
  Show Answer
  The correct answer is A .
• Question 944: The main motive of chambers of commerce and trade association is to? Options:
  A) assist governemnt in achieving its objective
  B) protect the interest of consumers
  C) maximize profit
  D) protect and promote the interests of members
  Show Answer
  The correct answer is D .
• Question 945: 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 946:

  What are the factors with which commercial undertaking can be distinguish?

  I Size of the undertaking

  II Profits generated

  III Forms of ownership

  IV Location of the undertaking

  Options:
  A) I and II only
  B) I andIII only
  C) II and III only
  D) III and IV only
  Show Answer
  The correct answer is B .
• Question 947: Printed messages sent by cable are recorded as Options:
  A) telegram
  B) SMS
  C) telex
  D) MMS
  Show Answer
  The correct answer is A .
• Question 948: The term free on board means that the price includes? Options:
  A) costs and insurance only
  B) costs and freight only
  C) freight and insurance only
  D) costs, insurance and freight
  Show Answer
  The correct answer is D .
• Question 949:

  Modern means of payment is greatly facilitated by

  Options:
  A) e-banking
  B) paper money
  C) credit transfer
  D) e-commerce
  Show Answer
  The correct answer is A .
• Question 950: Sole enterprise may flourish best in Options:
  A) a mining business
  B) a retailing business
  C) an oil exploration business
  D) a car assembly business
  Show Answer
  The correct answer is B .