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 2401: The document that gives an important freehand to obtain goods form any manufacturer is Options:
  A) A closed indent
  B) A consular invoice
  C) A freight note
  D) An open indent
  Show Answer
  The correct answer is D .
• Question 2402:

  Land as a factor of production does not vary in

  Options:
  A) cost
  B) quality
  C) quantity
  D) nature
  Show Answer
  The correct answer is C .
• Question 2403:

  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 2404:

  The maximum number of shareholders in a public liability company is

  Options:
  A) One hundred
  B) Unlimited
  C) Fifty
  D) Twenty
  Show Answer
  The correct answer is B .
• Question 2405: 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 2406: The proposed monetary integration within ECOWAS sub-region has the overriding benefit of a Options:
  A) improved exchange
  B) enhanced trade
  C) enhance development
  D) improved relations
  Show Answer
  The correct answer is B .
• Question 2407: The insurance principle that requires full disclosure of information on the insured is known as Options:
  A) indemnity
  B) uberrimae fidei
  C) subrogation
  D) caveat emptor
  Show Answer
  The correct answer is B .
• Question 2408: Awarding scholarships and sponsoring sports by a business organization are example of? Options:
  A) advertising strategy
  B) economic responsibility
  C) marketing strategy
  D) social responsibility
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  The correct answer is D .
• Question 2409: A good financial instrument which serves as a hedge against inflation is? Options:
  A) a bond
  B) a share
  C) an opion
  D) a warrant
  Show Answer
  The correct answer is A .
• Question 2410: Production ends when goods and services ________ Options:
  A) reach the final consumer
  B) are used for manufacturing
  C) are packaged and labelled
  D) are sold to the middlemen
  Show Answer
  The correct answer is A .