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 1761: 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
  Show Answer
  The correct answer is A .
• Question 1762:

  Freight note is a document

  Options:
  A) issued by a shipping company giving details of changes
  B) used by government to transport goods from one country to another
  C) used for payment for imported goods
  D) given by an importer to pay for goods at a future period
  Show Answer
  The correct answer is A .
• Question 1763: Bank giro is a system where? Options:
  A) commercial banks can give loan to all customers
  B) a central bank opens account for commercial banks
  C) a customer uses cheque to pay serveral bills
  D) a customer closes his account by writting cheque
  Show Answer
  The correct answer is D .
• Question 1764: The device which interprets and carries out the instructions presented to it by the computer program is known as? Options:
  A) software
  B) microprocessor
  C) mouse
  D) hard-disk
  Show Answer
  The correct answer is B .
• Question 1765: Which of these sets of external environmental factors affects a business operation? Options:
  A) Competition, industry operation
  B) Competition, labour and political
  C) Political, cultural and labour
  D) Economic, social and legal
  Show Answer
  The correct answer is D .
• Question 1766: The documents used in the purchase and sale of goods which contain other terms of trade are? Options:
  A) debit note and credit note
  B) delivery note and advice nopt
  C) invoice and order
  D) quotation and invoice
  Show Answer
  The correct answer is C .
• Question 1767:

  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 1768: The development of tourism in Nigeria will enhance? Options:
  A) agriculture
  B) revenue generation
  C) export
  D) labour mobility
  Show Answer
  The correct answer is B .
• Question 1769: The act of a person employing another to enter into a contract on his behalf is known as? Options:
  A) business
  B) sale of goods
  C) bilateral agreement
  D) agency
  Show Answer
  The correct answer is D .
• Question 1770:

  The service of a retailer is part of production because it

  Options:
  A) creates a link between consumers and producers
  B) enables finished goods to reach consumers
  C) increases consumers standard of living
  D) is a commercial occupation
  Show Answer
  The correct answer is B .