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 1: An account maintained with a commercial bank for the purpose of foreign exchange transaction is the? Options:
  A) foreign account
  B) international account
  C) domiciliary account
  D) foreign reserves account
  Show Answer
  The correct answer is C .
• Question 2:

  The three components of staffing are? 

  Options:
  A) recruitment, interview and appointment
  B) recruitment, selection and placement
  C) recruitment, test and placement
  D) recruitment, procurement and appointment
  Show Answer
  The correct answer is B .
• Question 3: The primary objectives of a trade association is to Options:
  A) undertake researchwork on behalf of members
  B) establish easy link with government
  C) exchange information and negotiate as a preasure group
  D) operat as a group against other groups
  Show Answer
  The correct answer is C .
• Question 4: Q,act as an agent of P, lawfully and reasonably incur the amount of N350 as expenses.If Q comes to P, for payment , this is an instance of P'S duty to Options:
  A) remunerate Q
  B) reply Q
  C) indemnify Q
  D) settle Q
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  The correct answer is C .
• Question 5:

  A partnership may be automatically dissolved due to the following factors except________

  Options:
  A) Court verdict
  B) Joint decision
  C) Admission of new partners
  D) Bankruptcy of a partner
  Show Answer
  The correct answer is C .
• Question 6:

  All but one is not a demerit of advertising?

  Options:
  A) It leads to monopoly
  B) Buyers can buy unnecessarily
  C) Increase in profit
  D) High cost
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  The correct answer is C .
• Question 7:

  Which of the following regulates and controls the activities in the Nigerian Stock Exchange?

  Options:
  A) CBN
  B) BPE
  C) SEC
  D) NDIC
  Show Answer
  The correct answer is C .
• Question 8: The letters E and OE stands for __________? Options:
  A) Errors of exception
  B) Errors and omissions excepted
  C) Estimated and order error
  D) End of error
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  The correct answer is B .
• Question 9: A business partner who provides capital but abstains from participation in administration of a firm is a Options:
  A) general partner
  B) nominal partner
  C) secret partner
  D) dormant partner
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  The correct answer is D .
• Question 10: The main aim of selling directly to consumers by manufactures is to Options:
  A) dis courage the activities of middlemen
  B) make contacts with comsumers
  C) eliminate transportation cost
  D) maximize the profit margin
  Show Answer
  The correct answer is A .