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 971: Any activity directed at conveying commodities to buyers is an aspect _________ Options:
  A) selling
  B) delivering
  C) advertising
  D) marketing
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  The correct answer is B .
• Question 972: The major condition for obtaining loan in thrift, credit and loans cooperative societies is Options:
  A) provision of collateral security
  B) a high level of education
  C) possesssion of a large business
  D) an approved project plan
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  The correct answer is A .
• Question 973: The macro-environment forces and trends which are a constraint on business operations are referred to as? Options:
  A) technological factors
  B) economic factors
  C) external factors
  D) internal factors
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  The correct answer is A .
• Question 974: The letters E and OE stand for? Options:
  A) errors of exception
  B) errors and omissions expected
  C) estimate and order error
  D) end of error
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  The correct answer is B .
• Question 975: A business firm that is involved in conveying goods or people is known as a? Options:
  A) consignor
  B) commercial firm
  C) carrier
  D) transporter
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  The correct answer is C .
• Question 976: The type of wholesaler that combines selling, delivery and collection in one operation is Options:
  A) specialist wholesaler
  B) rack jobber
  C) drop shipment
  D) truck wholesaler
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  The correct answer is D .
• Question 977:

  Communication process involves the transmission of a message over a selected channel to the

  Options:
  A) encoder
  B) receiver
  C) audience
  D) sender
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  The correct answer is B .
• Question 978: The winding up of a firm by a resolution of its shareholders is an example of Options:
  A) voluntary liquidation
  B) bankruptcy
  C) recession
  D) involuntary liquidation
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  The correct answer is A .
• Question 979: An example of an activity in the construction industry is Options:
  A) blacksmithing
  B) bricklaying
  C) car assembling
  D) shoemaking
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  The correct answer is C .
• Question 980: In international trade, documentary credit is also known as? Options:
  A) credit note
  B) letters of credit
  C) bankers' note
  D) letter of hypothecation
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  The correct answer is B .