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 161: The association that comprises all types of businesses is referred to as? Options:
  A) chamber of commerce
  B) trust
  C) trade association
  D) cartel
  Show Answer
  The correct answer is A .
• Question 162: In foreign trade, document of title is known as Options:
  A) bill of lading
  B) bill at sight
  C) certifiate of origin
  D) declaration form
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  The correct answer is A .
• Question 163: One of the products of an extractive industry is Options:
  A) an airplane
  B) an iron ore
  C) a shoe
  D) a textile material
  Show Answer
  The correct answer is B .
• Question 164:

  

  From the diagram above, what does I stand for?

  Options:
  A) Aids to trade
  B) Publicity
  C) Home trade
  D) Advertising
  Show Answer
  The correct answer is A .
• Question 165:

  Ships used for international transport are

  Options:
  A) oceanliners
  B) yachts
  C) launchers
  D) trawlers
  Show Answer
  The correct answer is A .
• Question 166: The main factors militating against the rapid growth of trade in Nigeria are? Options:
  A) inadequate transportation network and huge capital outlay
  B) lack of motivation and government attitude towards trade
  C) lacks of good transportation network and insecurity of investment
  D) huge capital outlay and government attitude to trade
  Show Answer
  The correct answer is C .
• Question 167: One of the obligations of an employer to an employee is to? Options:
  A) indemnify him against liabilities incurred on duty
  B) award scholarship to his children
  C) terminate his appointment without prior notice
  D) indemnity himagainst injuries caused through negligence
  Show Answer
  The correct answer is A .
• Question 168: The term ‘5 Net 7’ on an invoice means that? Options:
  A) 5% discount will be allowed on the price charged if payment is made within seven days
  B) 5% discount will be allowed on the price charged if payment is made after seven days
  C) 5% surcharge will be made unless payment is made within seven days
  D) 5% dicount will be allowed on the charged if the goods are bought within seven days
  Show Answer
  The correct answer is A .
• Question 169: In business, the computer is very important especially in? Options:
  A) financial amnagement
  B) marketing management
  C) educational management
  D) information management
  Show Answer
  The correct answer is D .
• Question 170: A country is said to be experiencing an unfavorable balance of trade if her Options:
  A) exports exceed imports
  B) visible exports exceed visible imports
  C) imports and exports are equal
  D) visible imports exceed visible exports
  Show Answer
  The correct answer is D .