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 141: A contract that is acknowledged before the law court is referred to as Options:
  A) informal contract
  B) formal contract
  C) contract of records
  D) specialty contract
  Show Answer
  The correct answer is C .
• Question 142: The type of communication from a superior to a subordinate in an organization is referred as? Options:
  A) horizontal communication
  B) lateral communication
  C) downward communication
  D) upward communication
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  The correct answer is C .
• Question 143: The main advantage of using cinema as an advertising medium is that it is Options:
  A) cheap
  B) accurate
  C) accessible
  D) informative
  Show Answer
  The correct answer is C .
• Question 144: 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 145: A partnership is dissolved due to ________ Options:
  A) liquidity of the firm
  B) death of the employee
  C) insanity of a partner
  D) resignation of an employee
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  The correct answer is C .
• Question 146:

  An advantage of division of labour is

  Options:
  A) productivity and total output is increased
  B) monopoly od task is eliminated
  C) interdependence of workers increase remuneration
  D) loss of individual craftmanship is minimized
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  The correct answer is A .
• Question 147: The maximum number of shareholders in a public liability company is? Options:
  A) twenty
  B) fifty
  C) one hundred
  D) unlimited
  Show Answer
  The correct answer is D .
• Question 148: A businessman who undertakes the hull insurance policy is aiming at? Options:
  A) conerting losses on damages to the cargo
  B) protcting injured crew in the ship
  C) averting payment of the freight
  D) covering damages to the body of the ship
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  The correct answer is A .
• Question 149: A floating policy is an example of? Options:
  A) marine insurance
  B) actuaries insurance
  C) motor insurance
  D) fire insurance
  Show Answer
  The correct answer is B .
• Question 150: Land as a factor of production does not vary in? Options:
  A) quantity
  B) nature
  C) quality
  D) cost
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  The correct answer is A .