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 201: The concept that refers to the sale, transfer or exchange of goods and services is Options:
  A) industry
  B) trade
  C) tariff
  D) marketing
  Show Answer
  The correct answer is B .
• Question 202:

  Goods and services are made available to consumers through

  Options:
  A) The advertising agency
  B) Sales promotion
  C) The channel of distribution
  D) The middle men
  Show Answer
  The correct answer is C .
• Question 203: Spot market goods are those which are available for Options:
  A) immidiate delivery
  B) short-term delivery
  C) long-term delivery
  D) end of the delivery
  Show Answer
  The correct answer is A .
• Question 204:

  Sudden technological changes can have the effect of making?

  Options:
  A) a company's management style ineffective
  B) a company's product obsolete
  C) the control mechanism difficult to implement
  D) the motivational factors in the company difficult to monitor
  Show Answer
  The correct answer is B .
• Question 205: If a business uses part of its profit to develop the area where it operates, the business is fulfilling its ______ Options:
  A) economic responsibilities
  B) marketing responsibilities
  C) social responsibilities
  D) managerial responsibilities
  Show Answer
  The correct answer is C .
• Question 206: To eliminate middlemen, there should be a retail outlet such as Options:
  A) producer co-operative
  B) consumer co-operative
  C) multiple shop
  D) departmental store
  Show Answer
  The correct answer is C .
• Question 207: Which of the following statement is true of preferred stockholders? Options:
  A) They have no voting rights at annual general meetings
  B) They first claim company asset before creditors
  C) The have first claim to company asset after all debts have been settled
  D) They share dividends equally with common shareholders
  Show Answer
  The correct answer is A .
• Question 208: The type of partnership in which all partners are jointly liable in bearing risk is? Options:
  A) limited partnership
  B) partnership-at-will
  C) ordinary partnership
  D) industral partnership
  Show Answer
  The correct answer is C .
• Question 209: The rate of turnover of a firm in a given year is 5 times while the average stock is #12,500. what is the turnover of the firm? Options:
  A) #24,000
  B) #46,500
  C) #62,500
  D) #65,000
  Show Answer
  The correct answer is C .
• Question 210:

  The direct authority of a superior over his subordinate is known as?

  Options:
  A) staff authority
  B) line authority
  C) line and staff authority
  D) lateral authority
  Show Answer
  The correct answer is B .