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 1701:

  Bank giro is a system where?

  Options:
  A) commercial banks can give loan to all customers.
  B) a central bank opens accounts for commercial banks
  C) a customer uses a cheque to pay several bills.
  D) a customer closes his account by writing a cheque
  Show Answer
  The correct answer is C .
• Question 1702:

  A person engaged for the purpose of bringing his principal and a third party into a contractual relation is

  Options:
  A) an arbiter
  B) an auctioneer
  C) an agent
  D) a middlemen
  Show Answer
  The correct answer is C .
• Question 1703: A computer that can be used in weather forecast is? Options:
  A) a hybrid computer
  B) an analog computer
  C) a marineframe computer
  D) a digital computer
  Show Answer
  The correct answer is D .
• Question 1704: A documentary bill will normally be accompanied by Options:
  A) . sales invoice, bill of lading and insurance certificate
  B) clean bill, bill of lading, and insurance certificate
  C) bill of lading, consular invoice, and insurance certificate
  D) consular invoice, FOB certificate and bill of lading
  Show Answer
  The correct answer is D .
• Question 1705: A royal charter was granted to the Royal Niger Company to do business in Nigeria in Options:
  A) December 1888
  B) May 1887
  C) July 1886
  D) August 1885
  Show Answer
  The correct answer is C .
• Question 1706:

  Warehousing is a productive function because it increases the?

  Options:
  A) quantity of goods
  B) utility of goods
  C) quality of goods
  D) price of goods
  Show Answer
  The correct answer is B .
• Question 1707: The body with the responsibility to register shares for subscription on the stock market in Nigeria is the? Options:
  A) Securties and Exchange Commission
  B) Nigerian Stock Exchange
  C) Nigerian Deposit Insurance Company
  D) Central Bank of Nigeria
  Show Answer
  The correct answer is A .
• Question 1708: The conversion of raw materials into finished products creates? Options:
  A) form utility
  B) marginal utility
  C) place utility
  D) time utility
  Show Answer
  The correct answer is A .
• Question 1709: Management of a business involves the development of ideas for the Options:
  A) distribution of goods and services that human wants
  B) transportation of goods and services that human wants
  C) transfer of title of ownership of goodsand services to individuals
  D) production of goods and services that satisfy human needs
  Show Answer
  The correct answer is D .
• Question 1710:

  The process of converting a non-profit making organisation to a profit-making business is

  Options:
  A) commercialisation
  B) deregulation
  C) indigenisation
  D) privatisation
  Show Answer
  The correct answer is D .