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 951: When a business enterprise provides free service to its environment, the service is said to be a Options:
  A) civic responsibility
  B) philanthropic consideration
  C) social responsibility
  D) political consideration
  Show Answer
  The correct answer is C .
• Question 952:

  Excise duties are paid on goods that are?

  Options:
  A) imported into the country
  B) manufactured within the country
  C) exported to other countries
  D) kept in bonded warehouse
  Show Answer
  The correct answer is B .
• Question 953: Which of the following countries are members of the lake Chad Basin Commission? Options:
  A) Niger and Cameroun
  B) Benin and Nigeria
  C) Chad and Benin
  D) Nigeria and Mali
  Show Answer
  The correct answer is A .
• Question 954:

  Why will a cheque be dishonored?

  Options:
  A) Regular signature
  B) high amount of money written on the cheque
  C) insufficient funds
  D) general crossing
  Show Answer
  The correct answer is C .
• Question 955: The cost of transporting goods to consumers called Options:
  A) carried inward
  B) carried forward
  C) carried paid
  D) carried outward
  Show Answer
  The correct answer is D .
• Question 956: An agreement that is enforceable in law is ________? Options:
  A) a contract
  B) an offer
  C) an acceptance
  D) a consideration
  Show Answer
  The correct answer is A .
• Question 957:

  A person who buys new issues with a view of reselling at a higher price in the near future is referred to as a

  Options:
  A) bear
  B) bull
  C) dealer
  D) stag
  Show Answer
  The correct answer is B .
• Question 958: A major function of a entrepreneur is? Options:
  A) decision-making
  B) encouraging competition
  C) human-resource traning
  D) motivating employees
  Show Answer
  The correct answer is A .
• Question 959:

  Which of the following is a verbal means of communication

  Options:
  A) Telephone
  B) Express mail
  C) Business reply services
  D) Telex
  Show Answer
  The correct answer is A .
• Question 960: The fees charged on postal order by the post office is _____? Options:
  A) interest
  B) brokerage
  C) poundage
  D) premium
  Show Answer
  The correct answer is C .