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 1141: Transport, retailing and wholesaling industries rely heavily on Options:
  A) banking
  B) insurance
  C) manufacturing
  D) railway
  Show Answer
  The correct answer is C .
• Question 1142: The assembling of products into usable forms is known as? Options:
  A) construction
  B) manufacturing
  C) formation
  D) creation
  Show Answer
  The correct answer is A .
• Question 1143:

  Which of the following documents would a shareholder inspect to know his voting rights?

  Options:
  A) Articles of Association
  B) Certificate of Incorporation
  C) Certificate of Trading
  D) Memorandum of Association
  Show Answer
  The correct answer is A .
• Question 1144: Endowment policy in insurance business is an aspect of Options:
  A) accident insurance policy
  B) fidelity guarantee insurance policy
  C) motor vehicle insurance policy
  D) life assurance policy
  Show Answer
  The correct answer is D .
• Question 1145:

  The organised effort of consumers to protect themselves against the unfair practices of businessmen is known as

  Options:
  A) picketing
  B) stroke
  C) consumerism
  D) demonstration
  Show Answer
  The correct answer is C .
• Question 1146:

  In the law of contact, a counter offer operates as

  Options:
  A) A contact
  B) an acceptance
  C) a rejection
  D) a rejection
  Show Answer
  The correct answer is D .
• Question 1147: The rewards of rents, wages, interests and profits accrue from? Options:
  A) capital, labour, land and enterpreneur respectively
  B) land, enterpreneur,labour and capital respectively
  C) land, lbour, capital and enterpreneur respectively
  D) labour, enterpreneur, land and capital respectively
  Show Answer
  The correct answer is C .
• Question 1148:

  An agreement that is enforceable in law is

  Options:
  A) a contract
  B) an acceptance
  C) an offer
  D) a consideration
  Show Answer
  The correct answer is A .
• Question 1149: The direct authority of a superior over his subordinate is known as Options:
  A) staff authority
  B) line authority
  C) line and staff authority
  D) office authority
  Show Answer
  The correct answer is B .
• Question 1150: An example of a cartel is? Options:
  A) OPEC
  B) ECOWAS
  C) AU
  D) EU
  Show Answer
  The correct answer is A .