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 1391: A document which advertise the shares of a company is known as a? Options:
  A) memorandum of satisfaction
  B) dividend warrant
  C) deed
  D) prospectus
  Show Answer
  The correct answer is D .
• Question 1392:

  One advantage of small scale retail outlets is

  Options:
  A) availability of self service facilities
  B) ability to buy in bulk
  C) easy acess to large amount of capital
  D) personal attention to customers
  Show Answer
  The correct answer is D .
• Question 1393: A supplier of flour who intends to sign a contract with a baker through post can establish a binding agreement only Options:
  A) after the offeror has made an offer
  B) when the offeror's letter has reached the offeree
  C) when the offeree's letter has been posted
  D) after the offeree's letter has been recieved by the offeror
  Show Answer
  The correct answer is D .
• Question 1394:

  Which of the following activities is not an example of the extractive industry?

  Options:
  A) weaving
  B) quarrying
  C) hunting
  D) fishing
  Show Answer
  The correct answer is A .
• Question 1395:

  Modern means of payment is greatly facilitated by

  Options:
  A) e-banking
  B) paper money
  C) credit transfer
  D) e-commerce
  Show Answer
  The correct answer is A .
• Question 1396: The arrangement and interrelationship of the various components and positions of a business is referred to as? Options:
  A) organizational structure
  B) clarity of objective
  C) unity of direction
  D) line structure
  Show Answer
  The correct answer is A .
• Question 1397: In case of a liquidation of a public limited liability company, those that are first paid are Options:
  A) ordinary shareholders
  B) prefernce shareholders
  C) cumulative preference shareholders
  D) debenture holders
  Show Answer
  The correct answer is D .
• Question 1398: The main document sent to an importer of goods by the exporter are? Options:
  A) invoice, consular invoice, certificate of orign, fright note, indent and insurance policy
  B) indent, bill of lading, certificate of orign, invoice and bill of exchange
  C) certificate of orign, bill of exchange, insurance policy, indent and bill of lading
  D) bill of lading, invoice insurance policy, consular invoice, certificate of orign and bill of exchange
  Show Answer
  The correct answer is D .
• Question 1399:

  An agent who has to sell perishable goods without the prior authority of the owner becomes an agent by

  Options:
  A) estoppel
  B) conduct
  C) necessity
  D) ratification
  Show Answer
  The correct answer is C .
• Question 1400:

  What are the factors with which commercial undertaking can be distinguish?

  I Size of the undertaking

  II Profits generated

  III Forms of ownership

  IV Location of the undertaking

  Options:
  A) I and II only
  B) I andIII only
  C) II and III only
  D) III and IV only
  Show Answer
  The correct answer is B .