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: The buying and selling of goods and services is referred to as Options:
  A) trading
  B) marketing
  C) insurance
  D) advertising
  Show Answer
  The correct answer is A .
• Question 952:

  What do we call agreement between two people enforced by law?

  Options:
  A) Consideration
  B) offer
  C) contract
  D) agreement
  Show Answer
  The correct answer is C .
• Question 953: The form of capital which is easily transferred into the form desired is known as? Options:
  A) working capital
  B) liquid capital
  C) circulating capital
  D) capital employed
  Show Answer
  The correct answer is C .
• Question 954: The placement of workers based on their qualifications can be categorized under Options:
  A) public sector
  B) skilled labour
  C) private sector
  D) unskilled labour
  Show Answer
  The correct answer is B .
• Question 955: 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 .
• Question 956:

  Warehousing is a productive function because it increases the?

  Options:
  A) quantity of goods
  B) utility of goods
  C) quality of goods
  D) price of goods
  Show Answer
  The correct answer is B .
• Question 957: The most commonly used commercial documents are? Options:
  A) order notes, debit notes, invoices and quotations
  B) letters of enquiry, consignment notes, receipts and invoices
  C) credit notes, statement of accounts, depatch order and bills
  D) balance sheet, receipts, invoices and manifest
  Show Answer
  The correct answer is A .
• Question 958: Consumer rights include the right to? Options:
  A) credit
  B) free samples of a product
  C) redress
  D) a shre of profits
  Show Answer
  The correct answer is C .
• Question 959: Which of the following will not be stated in a Memorandum of Association Options:
  A) Name clause
  B) rights of shareholders
  C) object clause
  D) registered office
  Show Answer
  The correct answer is C .
• Question 960: A close indent is an instrument to an agent to Options:
  A) order goods from a particular manufacturer
  B) order goods from any manufacturer
  C) sell gods to any firm
  D) sell goods to a certain firm
  Show Answer
  The correct answer is A .