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 1421: Charges for loans paid by commercial banks to the Central Bank of Nigeria are called? Options:
  A) bank rates
  B) credits charges
  C) interest rates
  D) bank charges
  Show Answer
  The correct answer is A .
• Question 1422: The allocation of tasks to different skills in a production process is referred to as Options:
  A) production technique
  B) production function
  C) division of labour
  D) delegation of responsibility
  Show Answer
  The correct answer is C .
• Question 1423:

  An agency contract must involve

  Options:
  A) a principal and a consumer
  B) a principal and an agent
  C) a principal and a producer
  D) a principal and a third party
  Show Answer
  The correct answer is B .
• Question 1424:

  The main advantage of a sole trader is the freedom to?

  Options:
  A) employ anyone he likes
  B) take quick decision
  C) seek advise from any source
  D) plough all the profits
  Show Answer
  The correct answer is B .
• Question 1425:

  A demonstration of social responsibility by a business is the payment of

  Options:
  A) interests on loans
  B) taxes to government
  C) dividends to shareholders
  D) premium on insurance
  Show Answer
  The correct answer is B .
• Question 1426:

  A person who buys new issues with a view of reselling at a higher price in the near future is referred to as a

  Options:
  A) bear
  B) bull
  C) dealer
  D) stag
  Show Answer
  The correct answer is B .
• Question 1427:

  A business organization that exploits the capabilities of a member to remedy the weakness of another is a

  Options:
  A) joint venture
  B) partnership
  C) nominal partnership
  D) cooperative
  Show Answer
  The correct answer is D .
• Question 1428:

  The stock exchange is a market where

  Options:
  A) short-term securities are sold
  B) medium term securities are sold
  C) all types of securities are sold
  D) long term securities are sold
  Show Answer
  The correct answer is C .
• Question 1429: Which of the following countries are members of the lake Chad Basin Commission? Options:
  A) Niger and Cameroun
  B) Benin and Nigeria
  C) Chad and Benin
  D) Nigeria and Mali
  Show Answer
  The correct answer is A .
• Question 1430:

  

  The organizational structure above represents

  Options:
  A) line and functional structure
  B) line and staff structure
  C) functional structure
  D) line structure
  Show Answer
  The correct answer is B .