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 1251:

  An author's exclusive right to his published and unpublished works is known as

  Options:
  A) constitutional right
  B) author's right
  C) copyright
  D) patent right
  Show Answer
  The correct answer is C .
• Question 1252:

  The service of a retailer is part of production because it

  Options:
  A) creates a link between consumers and producers
  B) enables finished goods to reach consumers
  C) increases consumers standard of living
  D) is a commercial occupation
  Show Answer
  The correct answer is B .
• Question 1253: Which of the following document permit an importer to inspect his goods before the arrival of the bill of lading? Options:
  A) Bill of sight
  B) Import invoice
  C) Consular invoice
  D) Bill of exchange
  Show Answer
  The correct answer is C .
• Question 1254:

  The business organisation in which shareholders have equal votes is?

  Options:
  A) sole proprietorship
  B) partnership
  C) cooperative
  D) limited liability company
  Show Answer
  The correct answer is C .
• Question 1255: In which of the following circumstances is a court order NOT necessary for the winding up of a company? Options:
  A) supension of businesss for one year
  B) special resolution of members
  C) reduction in the number of members below the legal minimum
  D) inability to pay it debts
  Show Answer
  The correct answer is B .
• Question 1256: Excise duties are paid on goods that are Options:
  A) imported into the country
  B) manufactured within the company
  C) exported to other clonutries
  D) kept in bond warehouses
  Show Answer
  The correct answer is B .
• Question 1257: The difference between personal selling and sales promotion is that while sales promotion includes free gifts and samples, personal selling involves? Options:
  A) distributing instructional posters
  B) face-to-face communication with customers
  C) premium programming for customers
  D) publishing promotional booklets
  Show Answer
  The correct answer is B .
• Question 1258:

  The right to buy or sell stock in the stock exchange within a stipulated period is

  Options:
  A) option
  B) contango
  C) backwardation
  D) brokerage
  Show Answer
  The correct answer is A .
• Question 1259:

  The part of the computer that has the capacity to interpret instruction is

  Options:
  A) central processing unit
  B) universal power storage
  C) monitor
  D) keyboard
  Show Answer
  The correct answer is A .
• Question 1260: Occupations are classified into? Options:
  A) production, labour and economics
  B) extraction, construction and manufacturing
  C) industry, commerce and serves
  D) trade, aids to trade and serivices
  Show Answer
  The correct answer is C .