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 151: 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 152: The most important reason for the existence of insurance business is to? Options:
  A) prevent the occurrence of any loss
  B) spread losses to all covered participants
  C) provide for the replacement of facilities
  D) encourage individuals to save
  Show Answer
  The correct answer is B .
• Question 153:

  Advantages of pipeline transport include all except_______

  Options:
  A) Low maintenance cost
  B) It is safe
  C) Continuous Flow of goods
  D) Prone to leakages
  Show Answer
  The correct answer is D .
• Question 154: The pivot on the wheel of commerce rotates is Options:
  A) tariff
  B) trade
  C) taxation
  D) price
  Show Answer
  The correct answer is B .
• Question 155: A major factor that affects business operations is Options:
  A) technology
  B) supply
  C) product
  D) rivalry
  Show Answer
  The correct answer is A .
• Question 156: The type of labour that makes use of physical effort in production processes is the Options:
  A) unskilled labour
  B) skilled labour
  C) blue-collar job
  D) white-collar job
  Show Answer
  The correct answer is A .
• Question 157: A demerit of communication is that it ________ Options:
  A) makes payment for goods cumbersome
  B) increase the cost of goods in transit
  C) give room for distortion of fact
  D) hinder quick reception of messages over a long distance
  Show Answer
  The correct answer is C .
• Question 158:

  A proforma invoice is not required when

  Options:
  A) quoting for the supply of good
  B) dealing regularly with a customer
  C) goods are sent on approval
  D) final prices are uncertain
  Show Answer
  The correct answer is B .
• Question 159: The stock Exchange helps to provide capital for of industrial project because it Options:
  A) determines value of shares, stocks and other securities
  B) assist government in implementing its monetary plicies
  C) assist companies to exchange their securities into cash
  D) renders agency services to organizations and government
  Show Answer
  The correct answer is C .
• Question 160: The letters E and OE stand for? Options:
  A) errors of exception
  B) errors and omissions expected
  C) estimate and order error
  D) end of error
  Show Answer
  The correct answer is B .