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 251: The document submitted to the customs authority when full description of imported goods is not provided is Options:
  A) a bill of sight
  B) an invoice
  C) an indent
  D) a bill of entry
  Show Answer
  The correct answer is C .
• Question 252: The type of securities that the stock exchange deals with are Options:
  A) warrants, currency notes, money orders and postal orders
  B) cheques, bankdrafts , warrants and promissory notes
  C) bonds ivory, treasure bills, debentures and warrants
  D) stocks, shares, bonds and warrants.
  Show Answer
  The correct answer is D .
• Question 253:

  A document that embody the conditions and exceptions attached to the contract is

  Options:
  A) proposal form
  B) cover note
  C) the policy
  D) insurance certificate
  Show Answer
  The correct answer is C .
• Question 254:

  Sea vessels that do not operate on regular times and routes are

  Options:
  A) tramps
  B) ocean liners
  C) container ships
  D) ferries
  Show Answer
  The correct answer is B .
• Question 255:

  Use the information below to answer questions 3 and 4.

  Aboki Plc, became the insolvent and decided to wind up to meet the legitimate claims of its creditors.

  Babalawee was called in to manage the dissolution.

  After paying the debts of aboki Plc, the balance goes to?

  Options:
  A) Aboki Plc
  B) Babalawee
  C) shareholders
  D) creditors
  Show Answer
  The correct answer is C .
• Question 256:

  Hire purchase is advantageous to the seller in that

  Options:
  A) it elevates his living standard
  B) people pay on installment
  C) his turnover will increase
  D) it enhances high level of patronage
  Show Answer
  The correct answer is D .
• Question 257: The World Tourism Organization has its headquarters in? Options:
  A) New York
  B) Paris
  C) Madrid
  D) London
  Show Answer
  The correct answer is A .
• Question 258: Marketing differs from selling in that,the latter only creates Options:
  A) possession utility
  B) marginal utility
  C) form utility
  D) place utility
  Show Answer
  The correct answer is A .
• Question 259: Funds used for paying wages, salaries and payments for raw materials are categorized under Options:
  A) liquid capital
  B) circulating capital
  C) fixed capital
  D) nominal capital
  Show Answer
  The correct answer is B .
• Question 260: To meet security requirements before gaining access to data, a computer operator supplies Options:
  A) an e-mail address
  B) a yahoo address
  C) a password
  D) a modem
  Show Answer
  The correct answer is C .