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 2021: The development of commercial activate in Nigeria was harnessed by Options:
  A) A good storage system
  B) Availability of market
  C) Increase in production
  D) Activities
  Show Answer
  The correct answer is A .
• Question 2022: A motor dealer who agreed to sell a car to Mr X but delivered it to Mr Y on the delivery date agreed with Mr X. He has discharged the contract by Options:
  A) performance
  B) frustration
  C) an agreement
  D) breach
  Show Answer
  The correct answer is D .
• Question 2023: The major aim of establishing a public corporation is to Options:
  A) establish a monopoly
  B) provide essential services
  C) provide employment opportunities
  D) encourage specialization
  Show Answer
  The correct answer is B .
• Question 2024:

  The payment made by a speculator to the buyer when he is unable to deliver stocks on the agreed date is

  Options:
  A) contango
  B) arbitrage
  C) backwardation
  D) franco
  Show Answer
  The correct answer is C .
• Question 2025: A current account is beneficial to its holder as? Options:
  A) cheques can be issued to anybody
  B) customers cannot withdraw frequently
  C) it is only the holder that can make withdrawals
  D) it allows customers the use of passbooks
  Show Answer
  The correct answer is A .
• Question 2026: The payment made by a speculator to the buyer when he is unable to deliver stocks on the agreed date is Options:
  A) arbitage
  B) franco
  C) contango
  D) backwardation
  Show Answer
  The correct answer is D .
• Question 2027: A document which serves as an order with details of goods required by an intending purchaser is Options:
  A) a freight note
  B) an indent
  C) a bill of landing
  D) a way bill
  Show Answer
  The correct answer is B .
• Question 2028: Social responsibility of an organization to? Options:
  A) tackle the socio-economic problem of its community
  B) meet the needs of its community
  C) contribute to sustaining and developing its community
  D) operate without disrupting the very essence of the enviroment
  Show Answer
  The correct answer is C .
• Question 2029: The transmission of telephone services from one country to another is facilitated by? Options:
  A) communication satelite
  B) international facility
  C) interconnectivity
  D) internet services
  Show Answer
  The correct answer is A .
• Question 2030: A common element in all contracts is? Options:
  A) offer
  B) consideration
  C) acceptance
  D) agreement
  Show Answer
  The correct answer is D .