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 961: A current account is beneficial to its holder as? Options:
  A) cheques can be issued to anybody
  B) customers cannot withdraw frequently
  C) it is only the holder that can make withdrawals
  D) it allows customers the use of passbooks
  Show Answer
  The correct answer is A .
• Question 962:

  The main documents sent to an importer of goods by the exporter are

  Options:
  A) bill of lading, invoice, insurance policy, consular invoice, certificate of origin and bill of exchange
  B) indent, bill of lading, certificate of origin, invoice and bill of exchange
  C) certificate of origin, bill of exchange, invoice, insurance policy, indent and bil of lading
  D) invoice, consular invoice, certificate of origin, freight note, indent and insurance policy
  Show Answer
  The correct answer is A .
• Question 963: A computer that can be used in weather forecast is? Options:
  A) a hybrid computer
  B) an analog computer
  C) a marineframe computer
  D) a digital computer
  Show Answer
  The correct answer is D .
• Question 964: Second-tier Securities Market differ from the First-tier Securities Market in that the former is? Options:
  A) highly restricted
  B) regulated by the SEC
  C) regulated by the NIPC
  D) less restricted
  Show Answer
  The correct answer is A .
• Question 965:

  What is the difference between current assets and current liabilities?

  Options:
  A) Working capital
  B) nominal capital
  C) capital employed
  D) issued capital
  Show Answer
  The correct answer is A .
• Question 966: Hire purchase is beneficial to the seller because? Options:
  A) it enhances his living standard
  B) it increases his turnover
  C) people pay instalmentally
  D) of the patronage he enjoys
  Show Answer
  The correct answer is B .
• Question 967:

  Which of the limited liability companies have a limit of fifty members and do not issues their shares to the public

  Options:
  A) Private limited liability
  B) Public limited liability
  C) Partnership
  D) Co-operative society
  Show Answer
  The correct answer is A .
• Question 968:

  Chibuzor agreed to make a dress for Hauwa with September 20, 1995 as the delivery date, if the dress was not ready on that date, Hauwa could

  Options:
  A) sue chibuzor for specific performance
  B) seize another gown from chibuzor's shop
  C) regard the contract between then as terminated
  D) sue chibuzor for damage
  Show Answer
  The correct answer is A .
• Question 969: Tourists with no fixed address in a town may receive their letters from the post office through a Options:
  A) recorded delivery
  B) poste restante
  C) parcel post
  D) postmaster
  Show Answer
  The correct answer is B .
• Question 970:

  The internet is a system of telecommunication used for

  Options:
  A) The internet is a system of telecommunication used for
  B) Communicating long distance messages
  C) Sending and receiving text messages
  D) Communicating messages through telegrams
  Show Answer
  The correct answer is A .